SQI Diagnostics to Acquire Scienion AG for $17 Million

SQI Diagnostics Inc. (Toronto, Ontario, Canada), a life science company specializing in proprietary human diagnostic technology, announced plans to acquire the German-based microarray manufacturer Scienion AG (Dortmund, Germany).

The $17 million transaction is expected to strengthen SQI's technology position and processing capabilities in the medical diagnostics sector. It will serve to accelerate the commercialization of SQI's in vitro diagnostic products through the use of Scienion's equipment and "print solution."

SQI expects to add Scienion's 400 customers to its client base and benefit from its equipment sales support in North America and Europe diversifying its revenues.

SQI Diagnostics develops and commercializes proprietary technologies and products for advanced microarray diagnostics. The Company's microarray tests and automated systems are designed to simplify protein and antibody testing workflow, increase throughput, reduce costs and provide superior data quality.

Scienion AG provides systems and services for the contact-free printing of biological and chemical agents for human diagnostics, pharmaceutics, veterinary, plant and food analytics, and research. Scienion has leading technology in the area of ultra low volume liquid handling, particularly for the handling of precious and sensitive compounds of biological or chemical origin.

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