Siemens to acquire Diagnostic Products Corporation
Siemens and Diagnostic Products Corporation (DPC) announced today that the later would be acquired by the former for approximately $1.86 billion. In the merger - pending approval by DPC shareholders and regulatory authorities - each shareholder of DPC will receive $58.50 (in cash) per share for each share of DPC stock then held, and DPC will become a wholly owned subsidiary of Siemens Medical Solutions USA, Inc. DPC employs 2,500 people in 100 countries and just reported (pdf) record quarterly sales of 129.6 million. Siemens’ goal is to increase its ability to enable early and specific diagnosis and individualized patient therapy, with both in vitro and in vivo diagnostics abilities. More details in this press release and Reuters coverage.
April 27, 2006 Related topics: Laboratory Equipment, Mergers & Acquisitions