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Siemens enters IVD market via $1.8 bil. DPC purchase

This article was originally published in The Gray Sheet

Executive Summary

Siemens will combine its medical imaging and healthcare IT business with Diagnostic Products Corporation's immunodiagnostic test offerings under a $1.86 bil. acquisition agreement slated for a DPC shareholder vote by June. Valued at $58.50 per share and announced April 27, the cash deal represents a roughly 21% premium over DPC's April 26 close of $48.45. The move will allow Siemens to establish a solid base in the cancer and cardiac disease testing markets. DPC, which will operate as a wholly owned subsidiary of Siemens, gains access to the German firm's broad distribution resources...
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