Roche buys blood testing firm for $220m
pharmafile | July 2, 2013 | News story | Sales and Marketing | CMI, Diagnostics, Roche
Roche has acquired Boston-based Constitution Medical Investors in order to buy into its haematology testing system.
The cancer drug specialist has bought the firm for $220 million, and said it will shell out out further contingent payments depending on the achievement of certain milestones.
These new haematology capabilities will support Roche’s growth and strengthen its competitive position in the laboratory haematology testing business, it says, which had an estimated global market size of more than $2 billion in 2011.
Roland Diggelmann, chief operating officer of Roche’s Diagnostics, said: “With this acquisition, we will further strengthen our commitment to haematology and drive towards integrated laboratory solutions with innovative products which deliver medical value to our customers and patients.”
CMI is developing the patented ‘Bloodhound’ technology, which the firm says should increase efficiency and save laboratory space by replacing several workstations with a single, compact unit.
The system based on the Bloodhound technology is currently in development, however, and not yet available in the market.
Diggelmann added: “Patients will benefit from faster and more accurate diagnosis of blood diseases such as anaemia and leukaemia. We are happy to welcome CMI’s employees, a very talented group of people with strong expertise and domain knowledge in the field of haematology, to the Roche Group.”
Patrick Sullivan, chairman and chief executive of CMI, said: “We are very excited about the prospect of continuing our successful development as part of the Roche Group and bringing our technology to medical laboratories in the service of patients on a global scale.”
CMI will serve as a ‘centre of excellence’ in the field of haematology within Roche’s own Diagnostics unit.
Ben Adams
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