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10 Deals That Shook up the Diagnostics Industry

MD+DI looks at 10 deals that fundamentally changed the diagnostics industry.

  • 10 Mergers & Acquisitions That Helped Redefine the Diagnostics Market

    The diagnostics space is rapidly changing and growing. In May, a session on Center Stage at BIOMEDevice Boston will address some of these changes in the in vitro diagnostics market along with fast growth markets and disruptive trends. MD+DI has identified 10 of the biggest deals that have really shaken up the IVD and the diagnostics market over the past few years.

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  • BioTechne’s Big Play in Liquid Biopsy

    BioTechne made moves in the liquid biopsy space when it revealed it would acquire Exosome Diagnostics for $250 million plus $325 million in potential milestones. Waltham, MA-based Exosome has developed the urine-based test ExoDx Prostate (IntelliScore) to assist physicians in determining the need for a prostate biopsy in patients with an ambiguous PSA test result.

     

     

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  • Quidel Levels Up Big Time

    Quidel is a San Diego-based diagnostics company that received quite a change in 2017. The company put up $400 million to buy some of the assets of Alere.  Waltham, MA-based Alere put the assets up for sale to satisfy its merger with Abbott (more on that deal later in the list). Through the transaction, Quidel gained Triage MeterPro products and B-type Naturietic Peptide assays. Quidel said acquiring Alere's triage business and (BNP) assay business could give the company a boost in the point-of-care diagnostics market.

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  • Hologic’s Loss, Grifols’ Gain

    When Hologic was in the process of trying to acquire Cynosure, it had a problem on its hands. Just what would it do with its stake in its blood screening firm with Grifols. Shortly before the deal occurred, executives from Hologic said the business operated in a challenging market with ongoing headwinds. Hologic ended up divesting its stake in the blood screening business to Grifols for $1.85 billion and moving full stream with Cynosure in the aesthetics health market.

     

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  • Danaher's Big Deal

    About three years ago, Danaher expanded its diagnostics offerings significantly through the acquisition of Sunnyvale, CA-based Cepheid. The $4 billion price tag equaled about $53 per share price and marked a 53% premium off Cepheid's closing price (before the deal was announced). Through the acquisition, Danaher gained the full automated GeneXpert systems, among other applications, and products that provide test results for the management of infectious diseases.

     

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  • Hologic Shines With Gen-Probe M&A

    In 2012, Hologic was growing significantly in its diagnostics offerings. But the Marlborough, MA-based company needed a bit more. The firm remedied this situation by making a move to acquire Gen-Probe for $3.7 billion. The acquisition would give the company an edge against competitors and a greater presence in the molecular diagnostics and services market.

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  • LabCorp Finds New Opportunities in Clinical Trials With Covance

    LabCorp made a significant change to its business back in 2014. The medical diagnostics company moved into the drug research and development with the acquisition of Covance for $6.1 billion. The Covance acquisition diversified the Burlington, NC-based company even further into the clinical trial space. LabCorp made news earlier this week when it announced that its Covance unit would acquire Envigo's non-clinical research services business. In addition, Envigo's Research Models Services business would acquire the Covance Research Products business.

  • Myriad Expands its Horizons in Neurology

    Myriad Genetics received its first neuroscience diagnostic through the acquisition of Assurex Health. The GeneSight diagnostic, which was developed by Assurex, is a genetic test for psychotropic medicine selection. Salt Lake City, UT-based Myriad said the market potential for the test could well exceed $4 billion.

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  • Roche Gets Ventana in the End

    Roche went through a lot (and we do mean a lot) to acquire Ventana Medical Systems. The Basel, Switzerland-based company made offers and even tried a hostile takeover attempt to pick up the molecular diagnostics firm. In the end – and after (seven months of trying) Roche managed to acquire Ventana for about $3.4 billion. The deal stands out because it contributed to Roche’s push into molecular diagnostics.

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  • Long Live Mega-Mergers

    When Becton Dickinson & Co. (BD) first made moves to acquire CareFusion, there weren’t many medtech mega-mergers out there. Sure you had Medtronic/Covidien and Zimmer/Biomet, but that was about it. However, BD, which manufactured medical supplies, devices, laboratory equipment and diagnostic products, completely reinforced the idea that mega-mergers were here to stay in the medtech industry, when it announced it would pick up CareFusion for $12.2 billion.

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  • The Abbott and Alere Saga

    Ah Abbott and Alere. The merger that almost wasn’t? Perhaps now the merged company can look back and fondly reminisce over the series of events that led to the acquisition. But when it was happening in real time? Probably not so much. Abbott, after announcing the acquisition, was "blindsided by disclosures that Alere was the subject of U.S. Department of Justice probes into its overseas business practices, its billing of Medicare, and the reliability of a product line. Consequently, Abbott insisted Alere provide more information about those three federal investigations, and, in April, it even offered Alere tens of millions of dollars to terminate the planned acquisition altogether.  Alere rejected that offer. Also in April, Alere was "stunned" to learn of Abbott's intent to buy Minneapolis-based St. Jude Medical Inc. for $25 billion. Alere brought a rather juicy lawsuit forth,  charging Abbott with covertly planning to sink the merger altogether. However, both sides were eventually able to work things out and Abbott ended up acquiring Alere for $5 billion in 2017.

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