Invitrogen Strengthens Cell Systems Business
At a recent investor conference, Mr. Lucier discussed the fast growth prospects for the specialty cell systems market and Invitrogen’s aim to be a complete provider for the market, especially for validated solutions. He maintained that Invitrogen was well positioned with a complete set of products, to which this acquisition is a further addition.
Carlsbad, CA 1/10/08—Invitrogen has definitively agreed to acquire CellzDirect, a provider of hepatocyte-based primary cell products and services, for $57 million in cash. Hepatocyte-based primary cells are used in predicting the effect of a drug on enzymatic metabolism in the liver. “CellzDirect’s high-value products and services will greatly complement Invitrogen’s market-leading portfolio of complete cell systems, including primary cells, media, matrices and growth factors,” commented Invitrogen Chairman and CEO Greg Lucier. Founded in 2001 and based in Research Triangle Park, North Carolina, with 90 employees, CellzDirect’s 2007 estimated revenues were $18 million. The acquisition is forecasted to be EPS neutral in 2008 and accretive in 2009.
