IVAX Diagnostics ends deal to buy property for new headquarters

By E. Janene Geiss

Philadelphia, Dec. 28 - IVAX Diagnostics, Inc. terminated its agreement to purchase property for $8.285 million in Weston, Fla., according to a Wednesday 8-K filing with the Securities and Exchange Commission.

The property was to become the company's new headquarters as part of IVAX's plans to expand operations, the filing said.

On Dec. 21, IVAX ended its deal with seller Jeffry A. Epstein during the inspection period permitted under its Nov. 28 agreement. The company's $100,000 deposit was fully refunded, the filing said.

The deal was slated to close Jan. 19, the filing said.

IVAX said it continues to search for another property.

IVAX also said it is in discussions with several potential buyers for its property located near NW 21st Street on North Miami Avenue in Miami.

That property includes the buildings and real property that house IVAX's corporate headquarters and the operations of Diamedix Corp., a wholly owned subsidiary of IVAX.

IVAX develops diagnostics reagents, instrumentation and software.

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