Abbott has decided to purchase StarLims Technologies for approximately $123 million in cash. Abbott gains web-based applications to help laboratories store, retrieve, and analyze clinical, managerial, and administrative data.
Abbott will pay $14 per share, a 49% premium on its closing price yesterday of $9.40. StarLims reportedly has roughly $18 million in cash on hand currently.
“The acquisition of StarLims will provide Abbott with leading products to build upon existing technologies and expertise in the emerging field of healthcare informatics,” says Edward L. Michael, evp, diagnostics products, Abbott. “StarLims’ advanced web-based technologies can help our customers operate efficiently across the core laboratory, molecular, and point-of care segments of the global diagnostics market.”
As Abbott integrates StarLims into its existing portfolio of laboratory information management products, the company will continue to support and expand the nonclinical market segments that it currently serves. “We believe our laboratory information management solutions, which are widely used by government, manufacturing, and life science organizations, have important applications in clinical laboratories for improving the access, exchange, and analysis of patient and technical data,” reports Itschak Friedman, CEO of StarLims.
Headquartered in Israel, with operations in the U.S., Canada, the U.K., and Hong Kong, StarLims reportedly serves over 500 organizations in 40 countries. It reports that its flagship product, StarLims, improves the reliability of laboratory sampling processes, supports compliance with domestic and international regulations and industry standards, and provides comprehensive reporting, monitoring, and analysis capabilities. StarLims software is used for quality assurance and control, testing and monitoring, and research and development in government, manufacturing, and life science organizations.