Mesa Labs Acquires the Biological Indicators Business of Apex Laboratories, Inc.(2)
LAKEWOOD, Colo., Dec. 21, 2010 /PRNewswire-FirstCall/ -- Mesa Laboratories, Inc. (Nasdaq: MLAB), a Lakewood, Colorado based manufacturer of electronic instruments and disposables today announced the acquisition of the biological indicators business of Apex Laboratories, Inc., a North Carolina based company. The acquisition of the Apex business is expected to be immediately accretive to Mesa's earnings per share.
Apex Labs is the worldwide leader in sales of biological indicators (BI) for hydrogen peroxide vapor systems that operate at ambient pressures. These processes are commonly used for decontamination of glove boxes, aseptic processing lines, and entire rooms in the pharmaceutical, medical device, healthcare, and food industries. Biological indicators are used to ensure that the conditions in enclosures are appropriate to achieve the proper level of decontamination. Apex pioneered this market in the mid-1990's with the introduction of a BI using a small stainless steel disk as the bacterial spore carrier. As the market grew, the Apex disk became the standard in the industry for quality control applications.
Mesa Labs was founded in 1982 and manufactures instruments and disposable products utilized in connection with industrial applications and healthcare. Products include DataTrace data loggers and Torqo torque testers for quality control applications in pharmaceutical, food, and medical device manufacturing; Medical meters used for quality control in dialysis clinics; and Biological Indicators used for quality control of sterilization processes in hospitals and dental offices, along with pharmaceutical and medical device companies.
In this transaction, Apex is selling to Mesa Labs the assets associated with their hydrogen peroxide BI products and services. Following a brief transition period, Mesa wil