Leader in multiplex diagnostic technologies, DiaSorin, is set to acquire US rival Luminex in a $1.8bn deal. DiaSorin detects multiple pathogens from just one sample.
The acquisition will provide DiaSorin to control of a multiplex infectious disease testing system. This is set to both catapult the firm into the US and help mitigate the potential drop in demand for DiaSorin’s COVID-19 tests as the world returns to normality.
DuaSorin’s molecular division soared during the COVID-19 pandemic, contributing to 29% of its sales in 2020.
Luminex shareholders are set to receive an all-cash transactions price of $37 per share which represents a 23.1% premium based on the closing price of Luminex recorded on 24 February 2021.
It is also expected that the transaction will close in Q3 2021, awaiting approval from Luminex shareholders and other customary closing conditions.
DiaSorin Group CEO Carlo Rosa shared in a statement:
Luminex perfectly fits with our strategy to grow our positioning in the molecular diagnostics space, to broaden our presence in the US and to create additional value through life science offerings.
Luminex president and CEO Nachum Shamir said:
With the merger into DiaSorin, we believe we can expand the value our customers receive through an expanded global product and service portfolio. The proposed transaction underscores the respected position Luminex has built in the marketplace and rewards our shareholders with attractive value for their shares.