Roche increases diagnostics capability with acquisition of Ventana
30 January 2008
Swiss pharmaceutical and diagnostics giant Roche has
bought US diagnostics company Ventana Medical Systems for about $3.4
The acquisition of Arizona-based Ventana, a leader in the fast-growing
histopathology (tissue-based diagnostics) market, will allow Roche to
broaden its diagnostic offerings and complement its world leadership in both
in-vitro diagnostic systems and oncology therapies.
The offer price if
$89.5 per share represents a premium of 4.9% on Ventana's closing price on
January 18, 2008.
"Our combined company will be uniquely positioned to further expand
Ventana's business globally and together develop more cost-efficient,
differentiated and targeted medicines," said Franz Humer, Chairman and CEO
Christopher Gleeson, Ventana's President and Chief Executive
Officer, will continue as CEO of Ventana's business following completion of
the transaction and become a member of the Roche Diagnostics Executive
Committee. Ventana will remain based in Tucson, Arizona and its employees
will become part of the combined company.
Ventana's President and CEO Christopher Gleeson said, "I am confident that
Ventana's unique position at the forefront of the emerging field of
companion diagnostics and its robust growth in both advanced staining and
primary staining ideally complements the strong position of Roche in the
field of diagnostics and oncology over the long term."