Quest Diagnostics to Sell Focus Diagnostics to DiaSorin
March 30 2016 - 8:30AM
Dow Jones News
Quest Diagnostics Inc. agreed to sell its immunodiagnostic and
molecular diagnostic products business to Italy's DiaSorin S.p.A.
for $300 million.
In the agreement, DiaSorin will acquire all assets of Focus
Diagnostics Inc. to develop, manufacture and distribute its
molecular diagnostic products and its traditional immunoassay ELISA
products, including contracts and customer lists.
DiaSorin expects to continue to manufacture Focus products—which
include the Simplexa molecular line, HerpeSelect HSV serology, and
the line of DxSelect IFA and ELISA assays—from the company's base
facility in Cypress, Calif., with the 180 Focus employees currently
employed there.
The acquisition doesn't include Quest's diagnostic information
service laboratories currently operating under the Focus
Diagnostics brand.
The move will help DiaSorin boost its presence in the infectious
disease molecular testing market and expand the Focus business
outside the U.S.
Quest, meanwhile, is transitioning to focus on its core
diagnostic information-services business.
The acquisition, which DiaSorin said would be carried out
through a newly created U.S. affiliate, is expected to close in the
second quarter.
Write to Anne Steele at Anne.Steele@wsj.com
(END) Dow Jones Newswires
March 30, 2016 08:15 ET (12:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
DiaSorin (BIT:DIA)
Historical Stock Chart
From Apr 2024 to May 2024
DiaSorin (BIT:DIA)
Historical Stock Chart
From May 2023 to May 2024
