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GEN News Highlights : Oct 3, 2006

Beckman Coulter Secures Lumigen for $185M

Beckman gains access to technology for immunochemical and other high-sensitivity testing.
Beckman Coulter signed an agreement to acquire Lumigen for $185 million in cash. The transaction is expected to be neutral to reported earnings per share and accretive to margins and to reported earnings per share by at least $0.02 in 2007. The agreement is targeted to close by November 1, 2006.

“Lumigen’s proprietary chemiluminescent chemistry is the detection method used in our Access family of immunoassay systems,” says Richard Creager, Ph.D., vp of R&D for Beckman Coulter’s immunoassay business. “Now, with Lumigen as part of the Beckman Coulter family, we are assured access to all of their current and future technology for immunochemical and other high-sensitivity testing.”

Lumigen develops and manufactures detection chemistries for high-sensitivity testing in clinical diagnostics and life science research. About 40% of its 2005 revenues of $33 million were from sales of chemiluminescent substrate to Beckman Coulter for use in its immunoassay analyzers.