QIAGEN initially acquired a 19.9% stake in NeuMoDx, along with the right to acquire the remaining stake at a purchase price of $234m
Dutch molecular diagnostics company QIAGEN has acquired the remaining 80.1% stake in diagnostics instruments maker NeuMoDx Molecular for $248m in cash.
NeuMoDx Molecular is engaged in designing and developing advanced molecular diagnostic solutions for hospital and clinical reference laboratories.
QIAGEN has initially acquired a 19.9% stake in the company, in 2018, along with the right to acquire the remaining stake at a price of $234m.
The final deal value includes customary purchase price adjustments for cash, indebtedness and transaction costs. The transaction is closed following the receipt of US regulatory approval for the full acquisition, said the company.
QIAGEN chief executive officer Thierry Bernard said: “NeuMoDx’s automated molecular testing platforms offer a unique combination of speed, flexibility, throughput and ease of use for molecular diagnostics assays, including laboratory-developed tests.
“NeuMoDx has built an unparalleled platform that has demonstrated superior value during the coronavirus pandemic. This will expand QIAGEN’s portfolio of automated testing solutions and provide another driver for future growth.”
Acquisition of NeuMoDx completes QIAGEN’s portfolio of PCR-based molecular testing solutions
The deal is said to complete the QIAGEN’s portfolio of automated molecular testing solutions based on the PCR technology.
As part of its 2018 agreement with NeuMoDx, the company has distributed the high-throughput NeuMoDx 288 and the medium-throughput NeuMoDx 96 testing platforms in Europe and other countries, except in the US.
NeuMoDx 288 and NeuMoDx 96 are rapid, integrated PCR-based devices, designed to provide thirteen different CE-IVD-marked assays for different infectious diseases in Europe.
The assays include dedicated Covid-19 test, which was granted received FDA Emergency Use Authorisation for the US market, and a new multiplex test for influenza, respiratory syncytial virus (RSV) and the SARS-CoV-2 virus, expected to be launched in the fourth quarter of 2020.
NeuMoDx devices are claimed to be different from other devices, by providing a rapid, fully automated turnaround time, delivering insights within one hour, and enabling laboratories to process large volumes and provide insights into infectious diseases including Covid-19.
Furthermore, the devices are flexible to accommodate the growing list of in vitro diagnostic (IVD) tests and enable processing commercial and laboratory-developed tests (LDTs), developed by clinical labs for internal use.
NeuMoDx Molecular chairman and chief executive officer Jeff Williams said: “Becoming a part of QIAGEN allows us to take our successes at NeuMoDx to the next level.
“We have built a broad testing portfolio and created strong customer enthusiasm around the world with our device’s unique combination of speed, flexibility, throughput and ease of use.
“This transaction is a testament to the achievements of the entire NeuMoDx team and we are excited to finally become a full part of the QIAGEN family.”