QIAGEN originally acquired 19.9% stake in NeuMoDx in 2018, along with the right to acquire the remaining stake at a purchase price of $234m
Dutch molecular diagnostics firm QIAGEN has acquired the remaining 80.1% stake in diagnostics instruments maker NeuMoDx Molecular, for $248m in cash.
QIAGEN has initially acquired 19.9% stake in NeuMoDx Molecular in 2018, along with the right to acquire remaining stake at a price of $234m.
The final deal value includes customary purchase price adjustments for cash, indebtedness and transaction costs.
QIAGEN has completed the full acquisition following the receipt of the US regulatory clearance.
The deal is said to complete the QIAGEN’s portfolio of automated molecular testing solutions based on the PCR technology.
QIAGEN chief executive officer Thierry Bernard said: “NeuMoDx’s automated molecular testing platforms offer a unique combination of speed, flexibility, throughput and ease of use for molecular diagnostics assays, including laboratory-developed tests.
“NeuMoDx has built an unparalleled platform that has demonstrated superior value during the coronavirus pandemic. This will expand QIAGEN’s portfolio of automated testing solutions and provide another driver for future growth.”
NeuMoDx Molecular designs and develops advanced molecular diagnostic solutions
NeuMoDx Molecular is engaged in designing and developing advanced molecular diagnostic solutions for hospital and clinical reference laboratories.
QIAGEN has distributed the high-throughput NeuMoDx 288 and the medium-throughput NeuMoDx 96 platforms in Europe and other markets, except in the US, as part of its 2018 agreement.
NeuMoDx 288 and NeuMoDx 96 are rapid, integrated PCR-based devices, designed to provide thirteen different CE-IVD-marked assays for different infectious diseases in Europe.
The assays include dedicated Covid-19 test, which received FDA Emergency Use Authorization, and a multiplex test for influenza, respiratory syncytial virus (RSV) and the SARS-CoV-2 virus, planned to be launched in the fourth quarter of 2020.
In August, Global medical technology firm Thermo Fisher Scientific terminated its deal to acquire QIAGEN.
Thermo Fisher had initially signed an agreement on 2 March 2020, to acquire Qiagen at a price of €39 ($44.3) per share in cash, valued at a total of $11.5bn.