Siemens Healthineers inks deal to buy Fast Track Diagnostics for undisclosed price

Siemens Healthineers has inked a deal to buy Fast Track Diagnostics for an undisclosed price.

Healthineers, a subsidiary of Siemens, inked a deal to acquire Fast Track Diagnostics (FTD), a Luxembourg-based maker of diagnostics that can distinguish between viral, bacterial or other infections in one test.

Terms of the deal weren’t disclosed.

With the acquisition of FTD, Healthineers expands its menu of Versant kPCR Molecular System by over 80 assays and syndromic panels, the company said. FTD’s tests target conditions such as respiratory infections, gastroenteritis, meningitis, hepatitis, infections of the immunosuppressed, tropical diseases, sexually transmitted diseases, and early childhood diseases, and can detect over 140 viruses, bacteria, parasites, and fungi.

Whitepaper

Overcoming Risk in Oncology Drug Development

Oncology drug development is full of potential obstacles and risks, and you must carefully plan each step. Download this whitepaper for tips on finding the fast track. Premier Research. Built for Biotech.

“By integrating the high-quality and cost effective solutions of Fast Track Diagnostics into our own cutting-edge molecular diagnostics portfolio, Siemens Healthineers continues to strengthen and expand its presence in the field of molecular testing and precision medicine,” Fernando Beils, Healthineers’ head of molecular diagnostics, said in a statement.

With the deal, Healthineers gets FTD’s sites in Luxembourg, Malta, and India, and about 80 employees. The company will continue to operate as Fast Track Diagnostics.

The fate of Siemens Healthineers has kept analysts buzzing this year. In late October, press reports said Siemens had named Goldman Sachs, Deutsche Bank and JP Morgan to lead a Healthineers IPO. Earlier this year Siemens said it planned to keep a majority stake in the unit after a spinoff or IPO, and then in May hinted that Healthineers may go public through a reverse merger instead.

Suggested Articles

The FDA approved the first spinal tether to correct the most common form of scoliosis—a ropelike implant that pulls the vertebrae into shape.

Agilent launched a new analyzer for research that observes cell behavior in real time while also collecting biosensor information.

Five years after Congress passed a law to reduce unnecessary MRIs and CT scans, federal officials have yet to implement it.