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Going with the flow
September 2011
EDIT CONNECT
SHARING OPTIONS:
BETHLEHEM, Pa.—In late July, OraSure Technologies Inc. made
it known
that it was in the process of acquiring privately held DNA
Genotek Inc., a
Canadian provider of oral fluid sample collection, stabilization and
preparation products for molecular diagnostic applications.
DNA Genotek is a
leading provider of oral fluid collection devices to the direct-to-consumer
personal genetics testing market.
The
deal closed on Aug.17, and cost OraSure just under $51 million in
cash in U.S. currency.
The purchase strengthens
OraSure's position in oral fluid diagnostics by
providing OraSure with a complementary portfolio of products that enable easy
and reliable collection,
stabilization, transportation and storage of
high-quality nucleic acid (DNA and RNA) samples. These samples can then be used
for a wide range of
diagnostic and research applications.
DNA Genotek blazed its own trail in the nucleic acid collection market
with
products that provide substantial advantages over traditional methods such
as blood or buccal swabs, including the reliable collection of high-quality
genetic samples using a simple, non-invasive method and the ability to transport
and store collected samples for extended periods at ambient
temperatures.
Products in DNA Genotek's portfolio include a saliva test that can
detect a biomarker related to
nicotine dependence.
"We targeted entry into the $4 billion molecular diagnostics market
given the magnitude and
rapid growth profile of the segment," said Douglas
A. Michels, president and CEO of OraSure Technologies, in a prepared statement.
"Our companies
share a common capability and passion to develop
best-in-class oral fluid-based solutions. Since 2004, DNA Genotek has posted
impressive financial
revenue growth and profitability, and we fully expect that
solid performance to continue."
Company
representatives did not respond to questions posed to them for
this story.
"Joining forces with OraSure at this
time will be instrumental in
taking DNA Genotek to the next level. Together, we will have the ability to
capitalize more quickly on the tremendous
opportunity in the rapidly growing
molecular research and clinical diagnostic markets," comments Ian Curry,
president and CEO of DNA Genotek. "Our
companies both endeavor to provide
high-quality, non-invasive sample collection devices, and the combination of
our resources will significantly
enhance our ability to deliver industry-leading
solutions to our customers.
"The two organizations are
complementary from a technology and people
perspective," Curry continues. "We have been impressed with the leadership at
OraSure and look forward to
working closely with them."
In a letter to customers, Curry said DNA Genotek will operate as a
wholly owned
subsidiary of OraSure and maintain all of its operations in
Ottawa, Canada, keeping the company's team and structure intact.
DNA Genotek serves more than 3,000 customers in approximately 100
countries worldwide, including many of the top research
universities and
hospitals in the United States. DNA Genotek's lead product, the Oragene DNA
sample collection kit, provides an all-in-one system for
the collection,
stabilization, transportation and purification of DNA from saliva. DNA Genotek
products are used in the academic research, clinical
genetic testing,
pharmacogenomics, personalized medicine, animal genetics and livestock genetics
markets. The company says it has realized significant
revenue growth over the
past four years, and has been profitable in both operating and net income each
year during that period.
OraSure Technologies is a leader in the development, manufacture and
distribution of oral fluid diagnostic devices and other
technologies designed
to diagnose critical medical conditions and diseases. Its innovative products
include rapid tests for the detection of antibodies
to HIV and HCV at the point
of care and testing solutions for detecting various drugs of abuse. These
products enable healthcare providers to deliver
critical information to
patients, empowering them to make decisions to improve and protect their
health. OraSure's products are sold globally to
various clinical laboratories,
hospitals, clinics, community-based organizations and other public health
organizations, distributors, government
agencies, physicians' offices and
commercial and industrial entities. Code: E091113 Back |
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