Biolin Scientific has divested Osstell, its subsidiary focused on dental diagnostic solutions, to the venture capital company Fouriertransform. The transaction price was approximately SEK33mn and involved 100% of the shares in Osstell. The divestiture is expected to be non-dilutive to Biolin's EBITA in FY2014. Biolin stated that Ostell was a non-strategic asset, and the company will now focus on serving industrial and academic research customers within the life sciences and materials sciences space.
Osstell, with revenues of SEK36mn in FY13, develops and sells dental diagnostics solutions designed to reduce treatment time and to manage patients at risk. Its proprietary technology uses a small transducer and resonance frequency analysis to determine the stability and clinical status of dental implants. The method has been used in clinical studies since 1992 and is currently used by dentists and dental surgeons worldwide. Osstell has its headquarters in Gothenburg, Sweden.
Biolin is a Nordic instrumentation company with revenues of SEK240mn in FY13. Its products are intended to aid the pharmaceutical industry to discover new drugs and treatments. The company's proprietary systems are based on nanotechnology and advanced measurement techniques.