CARLSBAD, Calif.--(BUSINESS WIRE)--Life Technologies Corporation, a provider of innovative life science solutions, has completed the previously announced sale of its mass spectrometry business to Danaher Corporation (NYSE: DHR - News) for $450 million in cash, subject to a conventional working capital adjustment.
Danaher has also acquired Life Technologies’ joint venture partner in the business, MDS Analytical Technologies, a division of MDS Inc. (NYSE: MDZ - News). Mass spectrometers are highly sensitive and sophisticated instruments used by researchers and clinicians to identify and quantify specific molecules in complex samples.
As previously announced, Life Technologies does not expect the sale of its mass spectrometry business to affect its previously announced 2009 and 2010 earnings expectations.
About Life Technologies (http://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 $3.3 billion in 2009, employs approximately 9,000 people, has a presence in approximately 160 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: http://www.lifetechnologies.com.
Life Technologies’ Safe Harbor Statement
This press release includes forward-looking statements about our anticipated results that involve risks and uncertainties. Some of the information contained in this press release, including, but not limited to, statements as to industry trends and Life Technologies’ plans, objectives, expectations and strategy for its business, contains forward-looking statements that are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by such forward-looking statements. Any statements that are not statements of historical fact are forward-looking statements. When used, the words “believe,” “plan,” “intend,” “anticipate,” “target,” “estimate,” “expect” and the like, and/or future tense or conditional constructions (“will,” “may,” “could,” “should,” etc.), or similar expressions, identify certain of these forward-looking statements. Important factors which could cause actual results to differ materially from those in the forward-looking statements are detailed in filings made by Life Technologies with the Securities and Exchange Commission. Life Technologies undertakes no obligation to update or revise any such forward-looking statements to reflect subsequent events or circumstances.
Contact:
Life Technologies Corporation Tim Ingersoll, 760-918-3883 Corporate Communications tim.ingersoll@lifetech.com
