GEN Exclusives

More »

GEN News Highlights

More »
Feb 27, 2009

Beckman Coulter to Shell Out Almost $800M for Olympus’ Lab-Based Diagnostics Franchise

  • Beckman Coulter will acquire the diagnostic systems portion of Olympus' life sciences business for ¥77.45 billion, or approximately $799.7 million. The acquisition will broaden Beckman Coulter's chemistry offering and give it a valuable new customer set for its immunoassay products.

    The Olympus diagnostics business is anticipated to increase Beckman Coulter's revenue by approximately $500 million in 2010 and generate approximately $40 to $50 million in operating income. Beckman Coulter believes that 2010 pretax savings of between $50 and $60 million can be achieved from the combination of Olympus operating expenses of about $200 million and Beckman Coulter’s of more than $1 billion. Savings are expected to be realized from leveraging existing global infrastructure and integrating sales, service, administrative, and R&D activities.

    Beckman Coulter expects to finance the acquisition with a combination of newly issued Beckman Coulter common stock (approximately $300 million) and newly issued debt (approximately $500 million). This transaction is expected to close in the third quarter.



Related content

Jobs

GEN Jobs powered by HireLifeScience.com connects you directly to employers in pharma, biotech, and the life sciences. View 40 to 50 fresh job postings daily or search for employment opportunities including those in R&D, clinical research, QA/QC, biomanufacturing, and regulatory affairs.
 Searching...
More »

GEN Poll

More » Poll Results »

Alzheimer's Therapies

Do you think an effective treatment for Alzheimer’s will be found within the next 10–15 years?