Spain-based healthcare company Grifols has completed the acquisition of the US-based medical devices maker Hologic's interest in their joint-business for $1.85bn.

The acquired unit of Hologic is focused on research, development and manufacture of assays and instruments based on Nucleic Acid Testing (NAT) technology..

The NAT technology aids transfusion, transplantation screening and identification of infectious agents in blood and plasma donations.

"With more than $10,000m investments in the US since 2002, the acquisition is part of Grifols' consolidation and growth strategy for its diagnostic unit."

Based on an existing agreement between the firms, Grifols currently markets these assays and instruments.

The assets acquired additionally include a plant in San Diego, CA in the US as well as development rights, licenses to patents and access to product manufacturers.

Hologic chairman, president and chief executive officer Steve MacMillan said: "Completing the divestiture of our blood screening business will strengthen our efforts to build a sustainable growth company by accelerating top- and bottom-line growth rates, while significantly increasing financial flexibility.

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"We are immensely proud of the contributions we have made to global blood safety over nearly 20 years, and wish our former employees and partner much continued success in the field."

With more than $10,000m investments in the US since 2002, the acquisition is part of Grifols' consolidation and growth strategy for its diagnostic unit.

The transaction is expected to enable the firm to leverage the NAT technology for the manufacture of antigens for immunoassay and blood-typing products.

Structured via Grifols Diagnostic Solutions situated in the US, the transaction has been financed with $1,700m term loan and existing cash on the balance sheet.