Siemens Healthineers has agreed to acquire Luxembourg-based molecular diagnostic tests supplier Fast Track Diagnostics (FTD) for an undisclosed sum.
FTD is engaged in the design, development and manufacturing of infectious disease detection kits. The company produces kits that can detect a range of viruses, bacteria, fungi and parasites.
The acquisition will add Siemens with sites in Luxembourg, Malta, and India, in addition to the workforce of about 80 employees.
In 2016, Siemens also acquired Neo New Oncology to advance its molecular diagnostic applications and services.
Now, the company can offer tests for respiratory infections, gastroenteritis, meningitis, hepatitis, infections of the immunosuppressed, tropical diseases, sexually transmitted diseases, and early childhood diseases.
The tests offered by the company can detect more than 140 viruses, bacteria, parasites and fungi.
The deal is expected to complete by the end of this year.
Siemens Healthineers molecular diagnostics head Fernando Beils said: "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.”
Fast Track Diagnostics CEO Bill Carman said: “Combining FTD's wide range of assays with the Siemens Healthineers portfolio means great things for all of our customers globally.”
In July this year, Siemens Healthineers agreed to acquire Epocal from Alere for an undisclosed price to expand its blood gas portfolio.
The Alere subsidiary develops and manufactures point-of-care blood diagnostic systems for healthcare organizations.
The epoc blood analysis system is a handheld and wireless testing solution that delivers blood gas, electrolyte and metabolite results near the patient in about 30 seconds after introduction of the sample.
Siemens Healthineers, which is the healthcare arm of German technology firm Siemens, offers products and services in the areas of diagnostic and therapeutic imaging, and in laboratory diagnostics and molecular medicine.
Image: Fast Track Diagnostics produces kits to detect a range of viruses, bacteria, fungi and parasites. Photo: courtesy of ponsulak / FreeDigitalPhotos.net.