Abbott to Acquire STARLIMS for $123 Million
STARLIMS’ primary end-user markets are government, manufacturing and life science organizations, which accounted for 39%, 32% and 25% of 2008 sales, respectively. Its lab software expertise can be expected to supplement Abbott’s software offerings for clinical and diagnostic labs. STARLIMS is listed on the NASDAQ and Tel Aviv stock exchanges.
Abbott Park, IL and Hollywood, FL 12/14/09—Health care firm Abbott has definitively agreed to acquire publicly held STARLIMS Technologies for $14 per share, a 43% premium over the company’s closing price on December 11, or $123 million in cash. STARLIMS is a provider of Laboratory Information Management Systems (LIMS) for research and clinical laboratories. The company had 2008 revenues of $25.2 million (see IBO 3/31/09). “The acquisition of STARLIMS will provide Abbott with leading products to build upon existing technologies and expertise in the emerging field of healthcare informatics,” commented Edward L. Michael, executive vice president, Diagnostics Products, Abbott. “STARLIMS’ advanced web-based technologies can help our customers operate efficiently across the core laboratory, molecular and point-of care segments of the global diagnostics market.” Abbott stated that it intends to continue to support and expand the nonclinical markets currently served by STARLIMS. STARLIMS CEO Itschak Friedman will continue to lead STARLIMS after the acquisition closes. The transaction is expected to close in the first quarter of next year.
