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Roche takes majority stake in cancer profiling firm Foundation Medicine; later buys the rest
10 Sep 2020
Executive Summary
Roche acquired the majority stake--52.4% (56.3% on a fully diluted basis)--of publicly traded Foundation Medicine Inc. (FMI; tumor genomic analysis) for $1.03bn, or 20.6mm shares for $50 (a 118% premium). The primary investment consists of 5mm shares, followed by a tender offer for 15.6mm shares. Three Roche representatives will join FMI’s board on deal closing, while FMI will continue to operate independently and retain its management team.
Deal Industry
- In Vitro Diagnostics
-
In Vitro Diagnostics
- Molecular Diagnostics & Genetic Testing
-
Biotechnology
- Pharmacogenetics-Pharmacogenomics
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Drug Discovery Tools
- Bioinformatics
- Genomics-Proteomics
Deal Status
- Final
Deal Type
-
Acquisition
- Includes Contract
- Partial Acquisition
- Payment Includes Cash
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Roche takes majority stake in cancer profiling firm Foundation Medicine; later buys the rest
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