Italian diagnostics firm DiaSorin has concluded the acquisition of Luminex in an all-cash transaction for an equity value of nearly $1.8bn or $37 per share.

In April, DiaSorin entered a definitive merger agreement to buy its US rival Luminex.

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With expertise in multiplexing technology,  Luminex currently has approximately 900 clients. It focuses on developing, producing and marketing biological testing technologies as well as products with applications in the diagnostics and life science industries.

DiaSorin noted that Luminex’s technology and life science solutions, which support clinical and pharmaceutical research and development, are in line with its diagnostics business.

With the deal, DiaSorin will be able to access Luminex’s multiplexing technology as well as a portfolio that will boost its current offering and aid in increasing its presence in the US.

The acquisition will also include access to Luminex’s applications in the life science sector, which feature both academic and scientific research.

Furthermore, it will boost DiaSorin’s collaboration with biopharma firms and enable better access to clinical multiplexing assays for value-based care projects in the future.

For Luminex, the deal will aid in expanding its technology and solutions outside the US by leveraging DiaSorin’s broad commercial and geographical reach.

DiaSorin CEO Carlo Rosa said: “Today, we begin a new phase of our growth, that will position DiaSorin as a fully-fledged diagnostic and life science player, that can offer increasingly sophisticated solutions to customers worldwide, also via the integration of the multiplexing technology that Luminex has pioneered globally.

“The future success of the diagnostics and life science sectors will be increasingly determined by the ability to innovate through cutting-edge technologies and solutions.

“This is the reason why we believe that Luminex is the perfect asset to boost our growth and to turn us into an even more competitive global company.”

DiaSorin has a presence in five continents, which includes 45 companies, four branches and ten production sites, as well as nine research and development centres.