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.
"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."
Hawkins, former chairman and CEO for medical device giant Medtronic (NYSE:MDT), accepted the keys to Immucor’s corner office in October 2011. He took over for Joshua Levine, who now recently took over as president & CEO at radiosurgery devices company Accuray (NSDQ:ARAY).
The Lifecodes move is Immucor’s 1st publicly reported acquisition since Hawkins took over.
"We are excited to welcome Lifecodes to the Immucor team," Hawkins said. "With the Lifecodes acquisition, Immucor will be well-positioned to help both transfusion centers and HLA labs anywhere in the world improve patient safety by ensuring the most compatible transfusion and transplantation."
