IVAX Diagnostics Reports Purchase of Majority Stockholders’ Interests

MIAMI--(BUSINESS WIRE)--IVAX Diagnostics, Inc. (NYSE Amex: IVD), a fully integrated in vitro diagnostics company, announced that today ERBA Diagnostics Mannheim GmbH purchased from a group controlled by Patrice Debregeas and Paul Kennedy all of the approximately 72% of the outstanding shares of IVAX Diagnostics owned by their group for $0.75 per share, or an aggregate purchase price of approximately $15 million. ERBA Diagnostics Mannheim, headquartered in Mannheim, Germany, is an emerging player in the in vitro diagnostics market.

About IVAX Diagnostics, Inc.

IVAX Diagnostics, Inc. (www.ivaxdiagnostics.com), headquartered in Miami, Florida, is a fully integrated in vitro diagnostics company that develops, manufactures and distributes in the United States and internationally, proprietary diagnostic reagents, test kits and instrumentation, primarily for autoimmune and infectious diseases, through its three subsidiaries: Diamedix Corporation (U.S.), Delta Biologicals S.r.l. (Europe), and ImmunoVision, Inc. (U.S.)

Safe Harbor Statement

Except for the historical matters contained herein, statements in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements involve risks and uncertainties that may affect the business and prospects of IVAX Diagnostics, Inc., and investors should consider the economic, competitive, governmental, technological and other risks and uncertainties discussed in IVAX Diagnostics’ filings with the Securities and Exchange Commission, including, without limitation, the risks and uncertainties discussed under the heading “Risk Factors” in such filings.