Beckman Coulter Acquires Biosite
Beckman Coulter announced March 25th that they will acquire Biosite in a $1.55 billion cash deal. Beckman Coulter manufactures and distributes products for biomedical and lab testing. Biosite and Beckman Coulter developed a partnership during the past four years with Biosite’s Triage BNP, a blood test for congestive heart failure that can rapidly make diagnosis, within 15 minutes. The combined assets of the two create a leader in immunoassays, particularly for cardiac disease. Last year, Beckman Coulter purchased Lumigen, a diagnostic technology company. The current deal with Biosite will be financed by Citigroup and Morgan Stanley.
March 27, 2007 Related topics: Partnerships & Consortia, Mergers & Acquisitions