US-based biotechnology company, Transgenomic, has agreed to acquire Precipio Diagnostics, LLC with the aim of creating a platform for improving accuracy of cancer diagnoses.
The target company, which is a cancer diagnostics reference laboratory, will become a wholly owned subsidiary of the acquirer company, while the acquirer company will be renamed as Precipio, Inc, whose shares are planned to be listed on the NASDAQ.
The existing security holders of Precipio Diagnostics will receive 62%-80% of the outstanding shares of Precipio, Inc.
Japanese optical products maker, Hoya Corporation, will acquire full stake in US-based ophthalmic lens maker, Performance Optics, LLC from private equity firm Wind Point Partners, which holds 63.37% stake in the target company, and other co-investors, who hold the remaining 36.63% stake.
The acquisition, which involves a purchase consideration of $476m, is expected to be completed in March 2017, and will enable Hoya to expand its product portfolio and take new initiative in the life care segment.
UK-based diagnostics company, Oxford Immunotec Global PLC, has completed the acquisition of Immunetics, Inc, a diagnostics company based in the US, for $6m in initial cash payment and further $6m cash payable upon achieving certain milestones over the next three years.
The acquisition is expected to help the Oxford Immunotec Global to diversify its revenue, improve profitability and provide new offering in the tick-borne disease market.
Danaher provides medical, commercial and industrial products and services, whereas Phenomenex makes high-value consumables for the separation sciences. Both the companies involved in the transaction are based in the US.
Phenomenex aims to expand its research and development (R&D) activities further, enhance its position in the market and diversify its product portfolio through the acquisition.