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)