Roche buys molecular diagnostics company IQuum for up to $450 million
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By: Katie Bell
Ref: CNBC, Sharenet, The Wall Street Journal, Roche, MarketWatch, FinanzNachrichten, Winnipeg Free Press, The Local, Le Figaro
Published: 04/07/2014
Roche announced Monday the acquisition of IQuum for up to $450 million, allowing the company to "quickly" enter the point of care segment of the molecular diagnostics market. Under the deal, Roche will pay IQuum shareholders $275 million upfront and up to $175 million in contingent product related milestones, and gain access to the latter's Laboratory-in-a-tube (Liat) system.
According to Roche, the Liat system "enables healthcare workers to perform rapid molecular diagnostic testing in a point of care setting, closer to patients and with minimal training." The CE marked and FDA cleared Liat Analyzer and Liat Influenza A/B Assay are the first tests available for use on the system. On completion of the purchase, IQuum will be integrated into Roche's molecular diagnostics unit.
Roland Diggelmann, chief operating officer of Roche Diagnostics, commented "with IQuum, we further strengthen our molecular diagnostics offerings with cutting-edge technology and products that serve the point of care segment." He noted that "patients will benefit from on-the-spot and accurate diagnoses, which will allow healthcare professionals to make rapid, informed treatment decisions in flexible settings."
According to Roche, the Liat system "enables healthcare workers to perform rapid molecular diagnostic testing in a point of care setting, closer to patients and with minimal training." The CE marked and FDA cleared Liat Analyzer and Liat Influenza A/B Assay are the first tests available for use on the system. On completion of the purchase, IQuum will be integrated into Roche's molecular diagnostics unit.
Roland Diggelmann, chief operating officer of Roche Diagnostics, commented "with IQuum, we further strengthen our molecular diagnostics offerings with cutting-edge technology and products that serve the point of care segment." He noted that "patients will benefit from on-the-spot and accurate diagnoses, which will allow healthcare professionals to make rapid, informed treatment decisions in flexible settings."