Luminex to acquire GenturaDx for $50 million
Luminex Corp. agrees to buy the molecular diagnostics company in a cash deal designed to expand Luminex's presence in the market
GenturaDx is developing a polymerase chainreaction (PCR) system to enable rapid and accurate diagnosis with minimalsample volume, a technology for which Luminex expects to see commercialavailability of assays by early 2014—the company also aims to integrate the PCRsystem with its MultiCode-RTx chemistry to increase its status and share in themolecular diagnostic testing market.
"This acquisition accelerates the developmentof integrated sample processing capabilities for our technology, and alignswith our mission to reduce healthcare costs and improve clinical outcomes byproviding innovative and affordable solutions to today's clinicallaboratories," said Luminex CEO Patrick J. Balthrop. "The acquisition ofGenturaDX builds on our strategic investments to date and positions the companyto deliver ongoing growth by increasing our product portfolio, expanding ourmarket opportunities and leveraging our leadership position."
Luminex expects the acquisition will add about $6million in operating expenses this year, excluding acquisition-relatedexpenses. Additional payments beyond the $50 million up front may be made aswell, if GenturaDx meets future milestones or achieves product revenue targets.