Steris Corp. To Acquire Ricerca, Enhance Product Development Services

Ricerca Biosciences, LLCris Corp. (Mentor, OH) has reached an agreement in principle with ISK Americas Inc., a subsidiary of Ishihara Sangyo Kaisha Ltd. (Osaka, Japan), to acquire the assets of <%=company%> (Concord, OH). The deal is expected to close by June 30, 1999. Upon completion of the transaction, Steris intends to consolidate its Mentor, OH scientific R&D activities into the Ricerca operations, with Ricerca continuing its contract R&D and technical services business.

Ricerca, a subsidiary of ISK Americas, provides a wide variety of research, development, and technology services to the pharmaceutical, animal health, agrochemical, and specialty chemical industries. The company supports new product development from the laboratory through initial pilot plant scale-up. Their staff of over 200 scientists, engineers, and support personnel includes more than 40 Ph.D.-level scientists and engineers. Major categories of services and studies include chemistry and process services, analytical and bioanalytical services, environmental and metabolic studies, toxicology and pharmacokinetics, and residue analysis. Ricerca Biosciences, LLCris expects revenues to increase by approximately $10 million in the current fiscal year and $20–25 million next fiscal year as a result of the acquisition. The transaction is expected to have minimal direct impact on earnings per share during the current fiscal year. Ricerca Biosciences, LLCris Corp. is a provider of infection prevention, contamination prevention, microbial reduction, and surgical support systems, products, services, and technologies to health care, scientific, research, food, and industrial customers.

For more information, call Steris Corp. at 440-354-2600.