ICN Completes Purchase of Flow General: ICN...
From Times Staff and Wire Reports
ICN Completes Purchase of Flow General: ICN Biomedicals Inc., Costa Mesa, has completed its previously announced agreement to acquire Flow Laboratories from Flow General Inc. of McLean, Va., for approximately $41.5 million. The purchase price includes 100,000 shares of ICN Biomedicals stock. The acquisition will increase the company’s annual sales from $50.4 million in 1988 to approximately $150 million. Flow Laboratories makes biomedical products for research laboratories, universities, pharmaceutical and biotechnology companies, and government research laboratories. ICN Biomedicals makes products for the biotechnology research and clinical diagnostic marketplaces.
