Danaher to Buy Genetix for $102 Million
Danaher cited Genetix’s digital pathology and life science products as reasons for the offer. For the research market, Genetix provides cell imaging and lab automation equipment that will complement products for cellular analysis that Danaher will acquire through the purchase of MDS Analytical Technologies (see IBO 9/15/09) and the microscopy products from Leica Microsystems.
Washington, DC 12/18/09; London, England 12/18/09—Diversified technology firm Danaher has announced a £50 million ($82 million) offer, net of cash acquired, for publicly held Genetix, a maker of research and clinical diagnostic instruments. In 2009, Genetix generated revenues of £26 million ($42 million) (see IBO 3/15/09). Danaher proposes to acquire all the issued and to be issued shares of Genetix for 85 pence per share ($1.38 per share), a 35% premium over the company’s closing price on December 17. “The combination of Genetix’s imaging and intelligent image analysis solutions and Leica’s instrumentation capabilities creates an attractive product offering serving both the clinical and research markets,” stated Thomas P. Joyce, vice president of Danaher.
