Hologic sells Lifecodes to Immucor for $85M

January 4, 2013 by MassDevice staff

Immucor agrees to acquire Hologic's Lifecodes transplant diagnostics business in a deal worth up to $95 million, marking the 1st publicly reported acquisition by Immucor since former Medtronic CEO William Hawkins took the corner office.

M&A illustration

In-vitro diagnostics maker Immucor (NSDQ:BLUD) signed a definitive agreement to acquire the Lifecodes transplant diagnostics business of Hologic (NSDQ:HOLX) in a deal worth up to $95 million.

Immucor paid $85 million in cash, with another $10 million to be paid out for certain financial milestones, according to a press release.

The Lifecodes business is a "worldwide leader in transplantation diagnostics," part of a $400 million global market that Immucor says is growing fast. Hologic acquired Lifecodes' technology in August 2012 when it acquired molecular diagnostics giant Gen-Probe (NSDQ:GPRO) for $4 billion.

Sign up to get our free newsletters delivered right to your inbox.

"Everything we do at Immucor is about helping anyone who needs blood get the right blood safely. The Lifecodes business will extend our mission to organs and stem cells," president & CEO William Hawkins said in prepared remarks. "The clear market advantage here is that customers anywhere in the world will have a single source for proven diagnostics that has a core competency in antigen typing and antibody screening and identification."