Bio-Rad to Pay Biotest Roughly $67.5M for Certain Diagnostics Businesses
Purchase will pad company’s immunohematology solutions.!--h2>
Bio-Rad Laboratories is buying some of Biotest’s diagnostic businesses for €45 million, or about $67.57 million. Bio-Rad says that the integration of Biotest's diagnostic business will broaden its offering in the area of immunohematology.
The transaction is expected to close in the first quarter of 2010. Details about which assets will be bought are not being revealed at this time.
Biotest’s solutions in blood-group typing and antibody diagnostics for immunohematology include reagents and the Tango® optimo system, an automated system for blood group typing for medium-sized and large laboratory.
“Biotest has an impressive reputation for offering quality products and customer service, and we believe their array of products in the area of immunohematology will fit in well with Bio-Rad's existing diagnostics business,” says Norman Schwartz, Bio-Rad president and CEO.
Based in Germany, Biotest develops, manufactures, and markets pharmaceutical, biotherapeutic, and diagnostic products. The company’s diagnostic business is broken down into medical diagnostics and microbiological tests and systems.
Under the medical category it offers tests related to transfusion, transplantation, and infectious diseases. Its microbiological division has tests for hygiene monitoring, particle counting, and molecular microbiology.