Life Technologies (JOBS) Signs Definitive Agreement to Acquire AcroMetrix
Published: Jan 12, 2010
CARLSBAD, Calif.--(BUSINESS WIRE)--Life Technologies Corporation, a provider of innovative life science solutions, today announced that it has signed a definitive agreement to acquire AcroMetrix, for an undisclosed amount.
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.
About Life Technologies (www.lifetechnologies.com)
Life Technologies Corporation (NASDAQ: LIFE - News) is a global biotechnology tools company dedicated to improving the human condition. Our systems, consumables and services enable researchers to accelerate scientific exploration, driving to discoveries and developments that make life even better. Life Technologies customers do their work across the biological spectrum, working to advance personalized medicine, regenerative science, molecular diagnostics, agricultural and environmental research, and 21st century forensics. Life Technologies had sales of more than $3 billion in 2008, employs approximately 9,500 people, has a presence in more than 100 countries, and possesses a rapidly growing intellectual property estate of approximately 3,600 patents and exclusive licenses. Life Technologies was created by the combination of Invitrogen Corporation and Applied Biosystems Inc., and manufactures both in-vitro diagnostic products and research use only-labeled products. For more information on how we are making a difference, please visit our website: www.lifetechnologies.com.
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Life Technologies Corporation Corporate Communications Farnaz Khadem, (760) 603-7245 firstname.lastname@example.org or Investor Relations Eileen Pattinson, (760) 268-7408 Eileen.Pattinson@lifetech.com