Monday, May 16, 2016
DiaSorin S.p.A. announced the completion of the transaction to acquire the Focus Diagnostics' immunodiagnostic and molecular diagnostic products business ("Focus") from Quest Diagnostics (NYSE: DGX), initiated with a binding purchase agreement signed on March 29, 2016.
DiaSorin paid to Quest Diagnostics $300 million in cash for all the tangible and intangible assets of Focus used by the latter to develop, manufacture and distribute its molecular diagnostic products and its traditional immunoassay ELISA products, including among other relevant intellectual property, contracts and customer list.
Focus' product lines include the Simplexa™ molecular product line, HerpeSelect® HSV serology, and a line of DxSelect™ IFA and ELISA assays that will continue to be manufactured by the relevant facility in Cypress, California, USA.
The transaction does not include Quest Diagnostics' diagnostic information services laboratories currently operating under the Focus Diagnostics brand.
The transaction's main terms and conditions are those already made available by both parties to the public on March 30, 2016.
Source : diasorin.com
