New Management Team Will Ensure a Smooth, Fast Integration Process Pending
Final Approval for Chiron Diagnostics Acquisition
TARRYTOWN, N.Y., Nov. 9 /PRNewswire/ -- Bayer Group Diagnostics announced
today its plans for a new senior management team under President Rolf Classon.
The new team will assume its responsibilities pending regulatory approval for
the Bayer acquisition of Chiron Diagnostics and the closing of the
transaction.
Classon created the senior management team by selecting from the senior
levels of both companies.
"It is critical for our customers that the integration is precise, rapid,
and brings together the best of our two companies," said Classon. "Having a
senior management team in place at the time of the closing will allow us to
move quickly to stabilize the organization and ensure that our customers can
see the benefits of the new company."
The senior management team includes:
Business Segments:
-- Critical Care Testing -- Chris Gleeson
-- Laboratory Testing -- Gerald Wagner
-- Nucleic Acid Testing -- Mickey Urdea
-- Point of Care Testing -- Joe Martin
-- Self Testing -- Pierre Cassigneul
Regions:
-- Europe -- Christopher Tobin
-- Japan -- Matasuke Egashira, Anthony Wynn
-- North America -- Clyde Grimm
-- Regions of the World -- Philippe Gauthier
Staff Functions:
-- Finance, Controlling & Administration -- W. Michael Weaber
-- Human Resources -- John Schulz
-- Quality Assurance/Regulatory Affairs -- Javad Seyedzadeh
-- Strategic Planning, Business Development & Communications -- Philip
Tabbiner
"Upon closing our agreement with Chiron, Bayer Diagnostics will be in a
strong position across all three major segments of diagnostics -- Laboratory
Testing, Point-of-Care Testing, and Self-Testing," Classon said. "Bayer
Diagnostics' new leadership will ensure that we harness the talent of our
combined organizations and focus our energy on building an organization that
exceeds all expectations."
On September 17, 1998, Bayer announced that it had signed a definitive
agreement with Chiron Corporation to acquire Chiron's diagnostics business for
$1.1 billion. The agreement includes acquisition of Chiron's
immunodiagnostic, critical care diagnostic, nucleic acid diagnostic and
clinical chemistry businesses. Since the announcement, Bayer has filed with
the regulatory agencies where required, has received clearance from the FTC,
and is waiting for clearance from the European Union to proceed with the
closing. In the interim, the company has quickly put in place a global
integration process with teams staffed by representatives from both companies.
The teams are preparing plans to combine the two organizations once the deal
is final. The newly named senior management team will work closely with the
integration teams to ensure a seamless transition.
Bayer's Business Group Diagnostics, headquartered in Tarrytown, N.Y.,
(http://www.bayerds.com) is one of the largest diagnostics businesses in the world.
The company serves customers in 100 countries with an offering that includes
diagnostics systems in three key segments: Laboratory Testing, Point-of-Care
Testing and Self-Testing. The Group has approximately 4,900 employees
worldwide with 1997 sales of $1.1 billion. Bayer Diagnostics is a member of
the worldwide Bayer Group, a $32 billion chemicals and pharmaceutical company
based in Leverkusen, Germany.
Chiron Diagnostics Corporation, headquartered in East Walpole, Mass., is
an international leader in diagnostics focusing on critical blood analysis,
clinical chemistry, endocrinology, infectious disease, allergy, and oncology.
The company has operations in 20 countries, sells its products in more than
90 countries, and employs approximately 3,300 people. Chiron Diagnostics is a
wholly owned subsidiary of Chiron Corporation (Nasdaq: CHIR), headquartered in
Emeryville, Calif.
SOURCE Bayer Diagnostics
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