Immucor to Acquire Hologic's Lifecodes Business
Posted on January 7, 2013 @ 02:31 pm
Norcross, Ga.-based Immucor Inc. has entered into a definitive agreement to purchase Hologic Inc.’s Lifecodes business—the company’s transplantation diagnostics business. Under the terms of the agreement, Immucor will purchase the outstanding shares of the Lifecodes business for $85 million in cash, plus an earn-out provision totaling $10 million in cash based on the achievement of certain financial targets in calendar year 2013.
Hologic is based in Medford, Mass. The company develops, manufactures and supplies diagnostic products, medical imaging systems, and surgical products that serve women’s health.
According to Immucor, the addition of Lifecodes strengthens the company’s position in the global in vitro diagnostics market by creating a single source for transfusion and transplantation-related testing. Transplantation diagnostics represents a $400 million market that is growing at mid-to-high single digits.
“Everything we do at Immucor is about helping anyone who needs blood get the right blood safely. The Lifecodes business will extend our mission to organs and stem cells,” says William A. Hawkins, president and CEO of Immucor (Hawkins is also the former CEO of Medtronic). “The clear market advantage here is that customers anywhere in the world will have a single source for proven diagnostics that has a core competency in antigen typing and antibody screening and identification.”
The Lifecodes business specializes in pre-transplant human leukocyte antigen (HLA) typing and screening to ensure the most compatible match between patient and donor, as well as post-transplant patient monitoring to aid in the identification of graft rejection; the business also offers other immune-monitoring products. Before being acquired by Hologic in August last year, it was part of San Diego, Calif.-based Gen-Probe Inc.
“We are excited to welcome Lifecodes to the Immucor team,” added Hawkins, “Hospital labs and blood banks rely on best-in-class technology and support to improve their operations, and achieve better healthcare outcomes. With the Lifecodes acquisition, Immucor will be well-positioned to help both transfusion centers and HLA labs anywhere in the world improve patient safety by ensuring the most compatible transfusion and transplantation.”
Immucor manufactures and sells a complete line of reagents and systems used by hospitals, reference laboratories, and donor centers to detect and identify certain properties of the cell and serum components of blood prior to transfusion.
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