Siemens (NYSE:SI) Healthineers said today it agreed to acquire Alere‘s (NYSE:ALR) Epocal point-of-care blood diagnostic business as Alere looks to clear regulatory hurdles in its pending acquisition by Abbott (NYSE:ABT).
Financial details of the acquisition were not disclosed, but the companies said that the acquisition is subject to the completion of Abbott’s purchase of Alere.
Alere said the divestiture was “in connection with a review by the Federal Trade Commission and the European Commission on the consummation of the transactions contemplated by the agreement and plan of merger,” according to an SEC filing.
The company said it expects the Epocal sale to “occur concurrent with, or as soon as practicable following, the closing of the merger.”
Epocal produces the handheld wireless Epoc blood analysis system designed to analyze blood gas, electrolyte and metabolite results in approximately 30 seconds after blood sample introduction, Siemens said. The system is comprised of the Epoc room-temperature stable BEM test card, Epoc reader and Epoc host2 mobile computer. A range of tests can be performed on the BGEM card, the company added.
“We want to help our customers innovate care delivery. As one of the market leaders in blood gas, the acquisition of the Epoc product line will enable us to provide the right solution in the right setting, all from one partner. The Epoc product line will seamlessly integrate with our digital ecosystem offering customers the broadest solution available in the market. The acquisition complements our existing offerings in the point of care diagnostics space, with a view to provide customers globally with a full range of blood gas solutions,” Siemens Healthcare point of care diag prez Peter Koerte said in a prepared statement.
Last week, Alere shareholders voted to approve its amended merger with Abbott. The new merger was agreed to in April at a $5.3 billion price tag, with Alere shareholders receiving $51 per common share in cash. Those numbers are down from the original merger agreement, which would have seen Abbott paying $5.8 billion for the company.