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Luminex to acquire GenturaDx for $50 million
07-09-2012
EDIT CONNECT
SHARING OPTIONS:
AUSTIN, Texas—Privately held GenturaDx of
Hayward,
Calif., seeks to make nucleic acid testing more affordable and practical for
laboratories, while Luminex Corp. wants to expand its presence in the diagnostic
and testing markets. This all comes
together this month in the form of a
cash deal worth $50 million, under which Luminex has agreed to acquire GenturaDx.
GenturaDx is developing a polymerase chain
reaction (PCR) system to enable rapid and accurate diagnosis with minimal
sample
volume, a technology for which Luminex expects to see commercial
availability of assays by early 2014—the company also aims to integrate the PCR
system
with its MultiCode-RTx chemistry to increase its status and share in the
molecular diagnostic testing market.
"This acquisition accelerates the development
of integrated sample processing capabilities for our technology, and aligns
with our mission to reduce healthcare costs and improve clinical outcomes by
providing innovative and affordable solutions to today's clinical
laboratories," said Luminex CEO Patrick J. Balthrop. "The acquisition of
GenturaDX builds on our strategic investments to date and positions the
company
to deliver ongoing growth by increasing our product portfolio, expanding our
market opportunities and leveraging our leadership position."
Luminex expects the acquisition will add about $6
million in operating expenses this year, excluding
acquisition-related
expenses. Additional payments beyond the $50 million up front may be made as
well, if GenturaDx meets future milestones or achieves
product revenue targets.
Code: E07091201 Back |
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