News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

Genzyme Genetics (GENZ) Acquires Alfigen, Inc.


10/19/2005 5:12:32 PM

February 23, 2004 -- Expands its Menu and Service Offerings to Physicians and Patients. Genzyme Genetics, a business unit of Genzyme Corporation, announced today that it has purchased substantially all of the assets of Alfigen, Inc., a national genetic testing provider based in Pasadena, California.

This transaction brings together two organizations committed to excellence in genetic testing. The purchase of this privately owned laboratory business allows Genzyme Genetics to expand its extensive test menu and service offerings. Alfigen offers innovative testing technologies and services, such as preimplantation genetic diagnosis, genetic counseling and continuing medical education programming.

"This acquisition provides us with an opportunity to not only leverage Alfigen's twenty years of experience within the industry, but also to utilize our existing assets and bring the combined service offerings to customers of both Alfigen and Genzyme, " says Mara Aspinall, president, Genzyme Genetics. "Like Genzyme, Alfigen's commitment to advancing science is supported by an excellent staff and we are working closely with the Alfigen team to effect a smooth transition. We are eager to continue to provide the highest quality of prenatal, oncology and other testing to physicians and patients."

"I am confident that this combination brings the highest level of quality and service to Alfigen's clients and provides opportunities for growth for Alfigen's employees", says Ahmed Alfi, CEO of Alfigen, Inc.

Genzyme Genetics intends to maintain Alfigen's Pasadena facility, and expects to fully integrate and link its operations with Genzyme's other operations. The terms of the acquisition were not disclosed.

About Alfigen

Alfigen, Inc. was founded in 1981 as the first private, full-service cytogenetics laboratory in the country. The laboratory offers a broad range of highly complex genetic tests, including cytogenetics (prenatal, postnatal and cancer), fluorescence in situ hybridization (FISH), molecular diagnostics, clinical chemistry and flow cytometry as well as genetic counseling.

About Genzyme Genetics

Genzyme Genetics is a leading, nationwide provider of high-quality genetic testing and genetic counseling services for physicians and their patients. With five laboratories across the U.S., Genzyme Genetics offers extensive reproductive and cancer testing services, supported by innovative technology and a commitment to quality service and trusted information. Genzyme Genetics is a business unit of Genzyme Corporation.

About Genzyme Corporation

Genzyme Corporation is a global biotechnology company dedicated to making a major positive impact on the lives of people with serious diseases. The company's broad product portfolio is focused on rare genetic disorders, renal disease, osteoarthritis and immune-mediated diseases, and includes an industry-leading array of diagnostic products and services. Genzyme's commitment to innovation continues today with research into novel approaches to cancer, heart disease, and other areas of unmet medical need. More than 5,300 Genzyme employees in offices around the globe serve patients in over 80 countries.

This press release contains forward-looking statements, including statements about: the expansion of test menus and service offerings; the leveraging of existing assets, the maintenance of Alfigen's Pasadena, California facility, the growth opportunities for Alfigen employees; and the integration of operations. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected in these forward-looking statements. These risks and uncertainties include, among others: the supplementary nature of Alfigen's tests and services; the ability to expand Genzyme Genetics' testing and services business; the continued utility of the Pasadena facility; the complementary nature of Alfigen's and Genzyme Genetics' operations; and the risks and uncertainties described in reports filed by Genzyme Corporation with the U.S. Securities and Exchange Commission, including without limitation the factors discussed under the caption "Factors Affecting Future Operating Results" in Genzyme's Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2003. We caution investors not to place undue reliance on the forward-looking statements contained in this press release. These statements speak only as of the date of this press release, and we undertake no obligation to update or revise the statements.

Genzyme® and Alfigen® are registered trademarks of Genzyme Corporation. All rights reserved.


Read at BioSpace.com


comments powered by Disqus
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES