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Diagnostics In Brief

This article was originally published in The Gray Sheet

Executive Summary

Siemens/Dade deal: Siemens expects to close its $7 billion acquisition of diagnostics firm Dade Behring Nov. 6, ahead of initial expectations. The announcement follows expiration of the $77 per share cash tender offer on Oct. 31. Dade CEO Jim Reid-Anderson will become the new chief of Siemens Medical Solutions Diagnostics. The division is currently headed by Tony Bihl, former president of Bayer Diagnostics, which Siemens acquired in January. Primary offices will be located at Dade's headquarters in Deerfield, Ill. Dade recently reported third-quarter sales of $475 million, up 12% over the prior-year period. Upon completion of the deal, Siemens is expected to overtake Roche Diagnostics as the in vitro diagnostics market leader (1"The Gray Sheet" July 30, 2007, p. 4)

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Immucor Accepts $2 Billion Private Equity Buyout, But Open To Richer Offer

Blood transfusion testing product maker Immucor will gain added financial resources for future growth following investment firm TPG Capital’s purchase of the company for $1.97 billion, the firm announced July 5.

Immucor gets DoJ subpoena

Antitrust Division of the U.S. Department of Justice subpoenas blood-transfusion instrument maker Immucor seeking documents dating back to September 2000 as part of an investigation into "possible violations of the federal criminal antitrust laws in the blood reagents industry," the company says. Immucor says it intends to "fully cooperate with the investigation." The company, which sells reagents and systems to hospitals, reference laboratories and donor centers to detect and identify various properties of both the cell and serum components in donated blood, reported in October 2007 that the Federal Trade Commission was investigating possible antitrust violations related to three of its acquisitions between 1996 and 1999. According to Immucor's most recent quarterly filing with the Securities and Exchange Commission on April 7, the firm has responded to FTC's request for documents and continues to cooperate (1"The Gray Sheet" Nov. 5, 2007, p. 18)

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