Danish healthcare company Radiometer Medical recently announced the acquisition of Swedish diagnostics company HemoCue AB from Quest Diagnostics. The price for the deal is approximately 300 million USD, plus customary adjustments for cash balances.
Radiometer and HemoCue will continue operations as separate companies and brands. “Although we will continue running Radiometer and HemoCue as separate companies and brands with unchanged management and channel structure, I expect that we will strengthen our offerings to supply healthcare providers around the globe with an even broader and stronger solution for their point-of-care testing,” says Radiometer President Peter Kürstein.
The Danish company was founded in 1935. In 1954 it launched the invention of the world’s first blood gas analyzer. Today, the company offers solutions for blood gas analysis, transcutaneous monitoring and immunoassay testing for cardiac, coagulation, infection and pregnancy markers. Radiometer has 2 400 employees globally. 1 000 of these are working at the Copenhagen headquarters. Swedish HemoCue employs globally close to 500 personnel of which 300 are based at the Ängelholm headquarters in Sweden. The company develops point-of-care testing systems like hemoglobin, glucose and others worldwide.
“Operating in the point-of-care arena comes with a special set of opportunities and challenges, and being owned by a large, well-reputed, global company operating in the same field, will give us focus and support to develop our organization and grow even faster than before,” says Niels Christiansen, President of HemoCue.
The transaction is expected to be completed in March 2013, subject to customary closing conditions.