Medical equipment manufacturer Bruker has signed a definitive agreement to acquire a majority stake in Hain Lifescience, an infectious disease-focused molecular diagnostics (MDx) company in Germany, for an undisclosed amount.
Under the terms of the acquisition, Bruker is expected to acquire an 80% stake in Hain with the option to purchase the remaining 20% interest after 2021.
The acquisition forms part of Bruker’s strategy to bolster its infectious disease and molecular diagnostics market portfolio.
With multiple European and African subsidiaries, Hain Lifescience focuses on providing various MDx solutions to identify microbial and viral pathogens, antibiotic resistance testing and for other human genetic diseases.
Its offerings include the DNA sample preparation instrument and GenoType assay portfolio for detecting tuberculosis, as well as kits for sexually transmitted diseases and HIV viral load testing.
Commenting on the deal, Bruker president and CEO Frank Laukien said: “We are excited to have concluded an agreement for the acquisition of Hain Lifescience, an innovative, fast-growing and high-quality company in the infectious disease molecular diagnostics markets.
“Hain is a great fit for Bruker’s Microbiology & Diagnostics business, which is one of the key drivers for our Project Accelerate.
“With this planned acquisition, we expect to broaden our footprint in molecular diagnostics, particularly in microbiology and virology testing solutions.”
After the completion of the deal, Hain Lifescience co-founders David Hain and Tobias Hain will continue to operate as the managing directors of the company.
Bruker also intends to retain Hain’s all staff as well as its research and development, manufacturing and distribution capabilities.
David Hain and Tobias Hain stated: “As part of the Bruker microbiology and diagnostics business, we will be able to drive our business to the next level.
“Bruker provides us with the required instrumentation experience and critical scale for the go-to-market approach for our molecular diagnostic solutions.”
The acquisition is expected to close in the fourth quarter of this year, subject to regulatory approvals and other customary closing conditions.