Cepheid is buying Sweden's Sangtec Molecular Diagnostics from Altana for about $27 million in cash. Sangtec makes polymerase chain reaction molecular diagnostic kits. Sangtec has 59 workers who will be integrated into Cepheid's European operations.
"The acquisition of Sangtec immediately brings Cepheid three key strategic benefits. First, Sangtec currently has a relatively complete line of products for potential use in managing infections of immunocompromised patients. Second, Sangtec has a very strong R&D team experienced in developing real time PCR based products which will enable Cepheid to more expeditiously expand its clinical test product menu. Third, Sangtec has an accomplished manufacturing team noted for its ability to produce high quality products. This team will provide Cepheid with an established reagent manufacturing base in Europe," said Cepheid CEO John Bishop.
- here's the release on the deal