Summary
Gen-Probe, one of the leading worldwide clinical diagnostic companies has announced an agreement to acquire privately held Prodesse. This strategic move expands Gen-Probe's molecular diagnostics infectious disease portfolio and solidly positions the company in this high growth clinical diagnostics market segment.
Analysis
Gen-Probe is one of the few "pure-play" global molecular diagnostics companies. It has been long known and respected for its novel, automated solutions for infectious disease testing. The recent announcement to acquire privately held Prodesse for approximately $60 million enhances its position as a premier competitor in the high growth molecular diagnostics segment in general and the infectious disease segment in particular.
Gen-Probe's move to acquire Prodesse marks the second acquisition by the company this year. In January, Gen-Probe announced the acquisition of Tepnel Life Sciences, a leader in human leucocyte antigen testing, genetic tests for cystic fibrosis, Down's syndrome, familial hypercholesterolemia, and other diseases.
Gen-probe's moves builds on its position in molecular diagnostics, the fastest growing and highest value clinical diagnostics market segment. Gen-Probe's strategic agility should improve its attractiveness as a growth company and one that could attract the attention of other major in vitro diagnostics (IVD) players.
For more information on the companies mentioned above, the high growth molecular diagnostics segment and the $52 billion dollar global clinical diagnostics industry, please contact your GLG representative today to schedule an individual consult.
Analyses are solely the work of the authors and have not been edited or endorsed by GLG.
