Sign up for the QMED & MD+DI Daily newsletter.
March 15, 2021
2 Min Read
Roche has signed a definitive agreement to acquire GenMark Diagnostics, a provider of infectious disease tests, for $24.05 a share or about $1.8 billion. The proposed acquisition adds to the growing number of diagnostic deals announced in 2021.
Basel, Italy-based Roche’s deal, which is set to close in 2Q21, comes on the heels of a Bloomberg News report speculating about a potential sale process. The price of the deal represents a premium of about 43% to GenMark’s unaffected closing share price on Feb. 10 before the Bloomberg News report.
Roche said GenMark’s syndromic panel testing portfolio will complement its molecular diagnostics portfolio. Roche said its global network will enable expanded reach for GenMark’s products. One of GenMark’s leading products is the ePlex system, which delivers rapid and actionable results so clinicians can determine the cause of infection and the most effective treatment.
“Acquiring GenMark Diagnostics will broaden our molecular diagnostics portfolio to include solutions that can provide lifesaving information quickly to patients and their healthcare providers in the fight against infectious diseases,” Thomas Schinecker, CEO Roche Diagnostics said in a release. “Their proven expertise in syndromic panel testing provides faster targeted therapeutic intervention, resulting in improved patient outcomes and reduced hospital stays, and will contribute to Roche’s commitment to helping control infectious diseases and antibiotic resistance. The rapid identification of bloodstream infections and the detection of antimicrobial resistance genes are more essential than ever for hospitals and their patients.”
A String of Deals Across the Diagnostic Spectrum
Is it just us, or has there been an influx of diagnostics deals lately?
Thermo Fisher Scientific was busy with M&A in January. The Waltham, MA-based company said it was acquiring Mesa Biotech, developer of a PCR-based rapid point-of-care testing platform for detecting infectious diseases including COVID-19, for $450 million in cash with the potential for $100 million in milestones.
Hologic is another company that has been involved in the recent M&A melee. The Marlborough, MA-based company has announced three deals this year – the first two within days of one another.
Very early in the year, Hologic said it would acquire Berlin, Germany-based Somatex for $64 million. Somatex specializes in the development and manufacturing of minimally invasive devices in the areas of tumor diagnostics, biopsy, and interventional specialties.
Hologic then said it would acquire Biotheranostics for $230 million. The San Diego, CA-based company provides molecular diagnostic tests for breast and metastatic cancers.
Hologic’s latest M&A announcement occurred earlier this month. The firm said it would acquire Belgium-based Diagenode for $159 million. Diagenode provides more than 30 real-time polymerase chain reaction tests that are CE-marked for the detection of bacteria, parasites, and viruses involved in sexually transmitted infections, respiratory diseases, meningitis, and gastroenteritis.
About the Author(s)
You May Also Like
Pedersen's POV graphic featuring the headshot of MD+DI Senior Editor Amanda Pedersen and a pull quote from the latest edition of her opinion column.
BioSig's Ridiculously Sparse Layoff Announcement Reeks of CallousnessFeb 26, 2024|3 Min Read
Sourcing Electrical Components: Are We Back to Normal?Feb 26, 2024|6 Min Read
Your Smartwatch Can’t Measure Blood Glucose Levels… YetFeb 26, 2024|3 Min Read
Medtech in a Minute: Medtronic Pulls the Plug on Ventilators and MoreFeb 26, 2024|1 Min Read