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.
Source : wsj.com