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Last $3.51 USD
Change Today +0.08 / 2.33%
Volume 14.6K
ERB On Other Exchanges
As of 8:04 PM 03/31/15 All times are local (Market data is delayed by at least 15 minutes).

erba diagnostics inc (ERB) Snapshot

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52 Week High
09/10/14 - $4.13
52 Week Low
04/28/14 - $1.39
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Current Stock Chart for ERBA DIAGNOSTICS INC (ERB)

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erba diagnostics inc (ERB) Details

ERBA Diagnostics, Inc., through its subsidiaries, develops, manufactures, and markets diagnostic test kits or assays, and automated systems that are used to aid in the detection of disease markers primarily in the areas of autoimmune, infectious diseases, clinical chemistry, hematology, and diabetes testing. It manufactures scientific and laboratory instruments, such as Mago 4, Mago 4S, and Mago Plus systems, which perform tests in an automated mode; sells other diagnostic products in Italy; and develops, manufactures, and markets diagnostic equipment, as well as raw materials, such as antigens that are used in the production of diagnostic kits. The company also develops, manufactures, and markets autoimmune reagents and research products for use by research laboratories and commercial diagnostic manufacturers. In addition, the company provides instruments for blood cell counting and blood analysis; supplies reagents and other consumable materials; sells diabetic testing products, including the DS5 instrument, dispenser, and associated reagent kits, which measure long-term glucose control in diabetic patients; and offers equipment for use in the field of human and veterinary hematology. Further, it manufactures and sells liquid stable, diagnostics chemistry reagents used for in vitro diagnostics testing. The company markets its products through its sales force to hospitals, reference laboratories, clinical laboratories, and research laboratories, as well as to other commercial companies that manufacture diagnostic products in the United States; and through sales representatives and independent agents in Italy, as well as through independent distributors internationally. ERBA Diagnostics, Inc. was founded in 1980 and is headquartered in Miami Lakes, Florida. ERBA Diagnostics, Inc. is a subsidiary of ERBA Diagnostics Mannheim GmbH.

135 Employees
Last Reported Date: 04/14/14
Founded in 1980

erba diagnostics inc (ERB) Top Compensated Officers

Chief Executive Officer
Total Annual Compensation: $150.0K
Principal Financial Officer, Principal Accoun...
Total Annual Compensation: $47.4K
Compensation as of Fiscal Year 2013.

erba diagnostics inc (ERB) Key Developments

ERBA Diagnostics, Inc. Enters into the New Line of Credit with Citibank, N.A

On March 25, 2015, ERBA Diagnostics, Inc. entered into that certain Business Loan Agreement and that certain Promissory Note with Citibank, N.A., which provides for a secured, revolving credit facility of up to $3,500,000 ("the New Line of Credit"). The New Line of Credit has replaced the secured, revolving credit facility of up to $2,000,000, which the Company had entered into with Citibank on March 1, 2013 (the Old Line of Credit") and which is no longer outstanding. Amounts outstanding under the New Line of Credit (a) will accrue interest at an annual rate equal to the 30-day LIBOR plus 1.75% and (b) will become due and payable on February 29, 2016, subject to acceleration upon the occurrence of certain specified events of default that the Company believes are customary for transactions of this type. Pursuant to the New Loan Agreement, the Company will be subject to certain specified positive and negative covenants that the Company believes are customary for transactions of this type. Amounts outstanding under the New Line of Credit will be secured by all of the assets of the Company and its wholly-owned subsidiaries located in the United States Diamedix Corporation, ImmunoVision, Inc., Drew Scientific, Inc., and JAS Diagnostics, Inc. (JAS"). The security interests were granted pursuant to that certain Commercial Security Agreement (the New Security Agreement"), dated as of March 25, 2015, made by JAS in favor of Citibank, and pursuant to those certain Commercial Security Agreements (the Old Security Agreements"), dated as of March 1, 2013, made by each of the Company, Diamedix, ImmunoVision and Drew Scientific in favor of Citibank in connection with the Old Line of Credit. Amounts outstanding under the New Line of Credit will also be secured by the Company's pledge of up to 66% of the total combined voting power of all classes of capital stock and other equity interests entitled to vote of Delta Biologicals, S.r.L. (Delta"). The pledge was granted pursuant to that certain Commercial Pledge Agreement (the New Pledge Agreement"), dated as of March 25, 2015, made by the Company in favor of Citibank. In addition, each of Diamedix, ImmunoVision, Drew Scientific and JAS has guaranteed the repayment of amounts drawn on the New Line of Credit pursuant to Commercial Guaranty Agreements (the New Guaranties"). Further, Transasia Bio-Medicals Limited, the indirect parent company of the Company, has also guaranteed the repayment of amounts drawn on the New Line of Credit.

ERBA Diagnostics Seeks Acquisitions

ERBA Diagnostics, Inc. (AMEX:ERB) intends to use the proceeds from the sale of facilities in Miami by Diamedix Corporation for potential facilities purchases, potential strategic acquisitions and for general working capital. Diamedix Corporation, wholly owned subsidiary of ERBA Diagnostics entered into an agreement to sell its former facilities in Miami for $23 million.

ERBA Diagnostics, Inc. Attains CE Mark for HB Vario A1c Detection System and Reagents for Management of Diabetes

ERBA Diagnostics, Inc. has attained CE Mark clearance for the HB Vario A1c detection system and associated reagents. Monitoring A1c values can help healthcare providers manage complications from diabetes in patients. The CE Mark registration provides marketing authorization in the 28 member states of the European Union and can be used for registration in additional countries who recognize the CE Mark. Following CE Mark clearance in December 2014, ERBA Diagnostics has commenced a limited launch of the HB Vario A1c detection system and associated reagents in Europe through its direct sales team and a limited launch in India through its distributor, and indirect parent company, Transasia Bio-Medicals. The Hb-Vario is capable of processing up to 10 samples at a time with an assay time of just around 4 minutes per sample. The Hb-Vario can sample from a wide number of sample tubes. The touchscreen of the Hb-Vario, the interactive software and user-friendly features makes the unit extremely easy to use. Diabetes continues to be one of the major challenges worldwide to the healthcare industry, a challenge that is pronounced in developing countries and emerging markets. It is currently estimated by the World Health Organization that 347 million people worldwide are afflicted with diabetes.


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