Life Technologies Corporation (NASDAQ: LIFE), a provider of innovative life science solutions, today announced that it has signed a definitive agreement to acquire AcroMetrix, for an undisclosed amount.
“We’re pleased to add our superior line of products to Life Technologies’ comprehensive suite of offerings in the molecular diagnostics market”
AcroMetrix is a provider of molecular and serological diagnostic quality control products to clinical laboratories, blood screening centers and in-vitro diagnostic (IVD) manufacturers. Diagnostic controls allow a laboratory to achieve better standardization across systems and are more economically efficient to use than “homebrew” control reagents.
“With the growth of DNA and other molecular based tests, there is a growing need for high quality, independently provided controls to ensure the accuracy and integrity of laboratory test results,” said Gregory T. Lucier, Chairman and Chief Executive Officer of Life Technologies. “The acquisition of AcroMetrix builds on our substantial business of providing tools and technologies into the molecular diagnostics industry.”
Life Technologies holds a significant portfolio of molecular diagnostics products that comprise more than $300 million of the company’s revenue, including components such as magnetic beads, fluorescent dyes and specific antibodies, which can be custom designed for diagnostics manufacturers. The company also provides the SPOT-Light® HER2 CISH Kit for assessment of breast cancer patients; the Dynachip® System for automated HLA antibody screening; and molecular diagnostic instruments such as the 3500 Dx Series Genetic Analyzer, cleared for diagnostic use in certain European countries, and the 7500 Fast Dx Real-Time PCR instrument. The 7500 Fast and 7500 Fast Dx instruments have received Emergency Use Authorization from the Food and Drug Administration for surveillance of the Influenza A (H1N1) virus and have been used by public health agencies worldwide.
“The addition of AcroMetrix will accelerate the expansion of our focused commercial channel for reaching molecular diagnostics customers, both with the current product portfolio and with assays in development,” said Mark Stevenson, Life Technologies’ President and Chief Operating Officer. “Our objective is to become the technology partner of choice to organizations worldwide that are building out their molecular diagnostic capabilities.”
“We’re pleased to add our superior line of products to Life Technologies’ comprehensive suite of offerings in the molecular diagnostics market,” said Michael J. Eck, President and Chief Executive Officer of AcroMetrix. “Our customers will now benefit from even greater investment in new molecular products designed to meet the needs of clinical laboratories.”
The transaction is subject to customary closing conditions. Life Technologies does not expect this transaction to have a material effect on its financials in fiscal year 2010.
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