Danaher Corporation (Washington, D.C., USA) will acquire Cepheid (Sunnyvale, California, USA) by purchasing all of the company’s outstanding shares for $53.00 per share in cash, or a total enterprise value of approximately USD 4 billion, including indebtedness and net of acquired cash.
Cepheid develops, manufactures, and markets molecular systems and tests, and has the largest global installed base of instruments as well as the broadest test menu in molecular diagnostics. The company will now become part of Danaher's USD 5 billion Diagnostics segment, joining the company's Beckman Coulter, Leica Biosesystems and Radiometer businesses.
Danaher's President and CEO, Thomas P. Joyce, Jr., said, "We expect Cepheid to be an excellent complement to our existing Diagnostics businesses and to expand our runway for growth across the platform. Cepheid's extensive installed base, test menu and innovative product offering contribute to its market leadership in molecular diagnostics and we expect it to strengthen our position in this high-growth segment."
Joyce continued, "By applying the Danaher Business System and combining Cepheid with our existing $5 billion revenue position in the diagnostics industry, we believe that Cepheid will be well-positioned to improve operational efficiencies, significantly expand margins and drive long-term growth. We look forward to welcoming the Cepheid team to Danaher."
By LabMedica International
