Date: Mar 11, 2008 Source: bizjournals (
click here to go to the source)
Immucor Inc. will pay $117 million in cash to buy privately held Warren, N.J.-based BioArray Solutions Ltd., which makes proprietary molecular diagnostic systems for DNA analysis of blood.
"This is a landmark acquisition for Immucor which will enable us to provide innovative molecular diagnostic solutions for blood transfusions that complement our current product line," said Gioacchino De Chirico, president and CEO of Immucor. "Our leadership in blood banking industry automation and BioArray's leadership in molecular diagnostic systems for specialty transfusion applications should allow the combined company to develop and deliver more precise genotyping solutions to enhance patient outcomes. This acquisition also opens up broader opportunities for Immucor in transplantation and transfusion-related applications."
Norcross, Ga.-based Immucorhttp://www.bizjournals.com/atlanta/stories/2008/03/10/daily24.html will get the broad intellectual property portfolio BioArray has generated, including about 100 issued or pending patents. BioArray will stay be based in Warren and operate under its name.
Immucor, a maker of blood reagent systems, saw its profit rise 15 percent in the second quarter to $16.2 million, aided by higher sales and favorable exchange rates.