Qiagen (QGEN) fully acquires NeuMoDx Molecular

QIAGEN N.V. (NYSE: QGEN; Frankfurt Prime Standard: QIA) today announced the acquisition of the remaining 80.1% of diagnostics instruments company NeuMoDx Molecular, Inc. for $248 million in cash. The move rounds out QIAGEN’s portfolio of automated molecular testing solutions based on the proven PCR technology.

The transaction was completed after QIAGEN received U.S. regulatory clearance for the full acquisition. In 2018, QIAGEN had purchased a 19.9% stake in NeuMoDx along with the right to acquire the remaining NeuMoDx stake at a price of $234 million. The final payment price for this remaining stake includes customary purchase price adjustments for cash, indebtedness and transaction costs. Also as part of the 2018 agreement, QIAGEN has distributed the high-throughput NeuMoDx™ 288 and the medium-throughput NeuMoDx™ 96 platforms in Europe and other markets outside the U.S.

“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,” said Thierry Bernard, Chief Executive Officer of QIAGEN. “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 devices offer labs with medium to high throughput exactly what they need,” Bernard added. “Labs want compact systems with true random access, fast turnaround time, full automation and comprehensive menus. The full integration of the NeuMoDx systems will allow QIAGEN to address laboratory needs in almost any setting for molecular diagnostics. We are excited to be able to build on NeuMoDx’s success and will jointly work on expanding our product portfolio and global distribution.”

You May Also Be Interested In

• Justice Department halts antitrust cooperation with Canada - report
• Primero Games Acquires Win Systems Gaming Division, Expanding International Reach
• Clearmind Medicine to acquire 51% of EV wireless charging firm