Roche to acquire molecular diagnostic solutions firm GenMark Diagnostics
Roche has agreed to acquire US-based molecular diagnostic solutions provider GenMark Diagnostics for $24.05 per share or about $1.8 billion in an all-cash deal.
GenMark Diagnostics offers molecular diagnostic tests that can detect multiple pathogens from a single patient sample.
According to Roche, the syndromic panel testing portfolio of GenMark Diagnostics will complement its current molecular diagnostics portfolio.
The global network of the Swiss healthcare company is expected to enable expanded reach for the products of the US molecular diagnostic solutions provider.
GenMark Diagnostics’ ePlex system is said to bring in lab efficiency through optimized order-to-reporting workflow. The ePlex system is also said to facilitate better patient outcomes by quickly diagnosing a patient’s symptoms.
Thomas Schinecker – CEO of Roche Diagnostics said: “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.
“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.”
Post-acquisition, the main operations of GenMark Diagnostics will continue at its current location in Carlsbad, California.
Scott Mendel – CEO of GenMark Diagnostics said: “As a part of Roche, we can accelerate our mission to enable rapid diagnosis of infectious disease to improve patient outcomes. Together with Roche’s diagnostics healthcare solutions, we will be able to provide a full suite of molecular diagnostic solutions to customers around the world.”
Subject to customary closing conditions, the deal is anticipated to be wrapped up in the second quarter of this year.