UK Firm to Acquire Orchid's Diagnostic Unit
By HospiMedica staff writers
Posted on 12 Nov 2003
In a move to expand its diagnostic portfolio, Tepnel Life Sciences plc (Manchester, UK) has agreed to acquire the diagnostic unit of Orchid BioSciences, Inc. (Princeton, NJ, USA) for US$4.3million in cash.Posted on 12 Nov 2003
Orchid's diagnostic unit provides systems, consumables, and services for human lymphocyte antigen testing (HLA) for organ transplantation matching, tests for cystic fibrosis, and genetic screening. Tepnel will acquire the products and services business of Orchid's diagnostic unit in the USA, the UK, and Belgium. These include Orchid's LifeMatch system and consumable product line for HLA testing and its Elucigene product line for the testing of certain genetic diseases. Tepnel has agreed to assume certain liabilities of Orchid's diagnostic unit and will assume control of the facilities in Stamford (CT, USA) and Brussels (Belgium).
"This will enable the expansion of our diagnostic product and service offerings in Europe and the USA, a key component for the advancement of our corporate strategy,” said Ben Matzilevich, CEO of Tepnel. "We expect that Orchid's well-established HLA typing and Elucigene businesses will provide the expansion and international presence we are aiming for in this key sector.”
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