Roche will purchase GenMark Diagnostics, a U.S.- based producer of molecular diagnostic tests in a $1.8 billion arrangement, the Swiss drugs producer said on Monday.
Roche said it will launch a proposal to fully acquire GenMark at a cost of $24.05 per share in an all-money exchange. The price represented a premium of 43% on GenMark’s closing share price on Feb. 10, preceding media speculation about an arrangement, Roche said.
California-based GenMark gives molecular diagnostic tests that are intended to distinguish different microbes from a solitary patient sample.
“Getting GenMark Diagnostics will expand our molecular diagnostics portfolio to incorporate arrangements that can give lifesaving data rapidly to patients and their medical services suppliers in the battle against irresistible infections,” Roche CEO Thomas Schinecker said in an explanation.
Roche said the procurement, which has been endorsed by the boards of the two organizations, is required to be finished during the second quarter of 2021.
Upon deal completion, GenMark’s essential tasks will proceed at the current area in Carlsbad, California, Roche said.
