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ZyGem buys MicoLab

This article was originally published in The Gray Sheet

Executive Summary

New Zealand-based ZyGem announces May 24 it has acquired microfluidic device maker MicroLab Diagnostics for an undisclosed amount. The company plans to integrate its DNA extraction and reagents and detection assays with MicroLab's microfluidic chip technology for "a broad range of applications." ZyGem expects to begin field testing of the combined system this year, "with commercial introduction planned for 2011," according to CEO Paul Kinnon. "We will initially target the forensic and government sectors, where we have already demonstrated convincing proof-of-concept, and which represent markets we estimate to exceed $3 billion annually in the U.S. alone," he added. As part of the agreement, ZyGem's senior management will relocate to MicroLab's Charlottesville, Va., headquarters, but the firm will retain its New Zealand labs
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