Hologic acquires molecular diagnostics company Mobidiag Oy in an estimated $ 795 million deal that will allow the women’s health company to offer closer testing to patients with ‘a technology capable of rapidly detecting several pathogens

Marlborough, Massachusetts-based Hologic already offers molecular diagnostic testing But diagnostic companies have looked to add multiplex offerings – the ability to identify multiple pathogens from a single test sample Multiplexing has become particularly appealing as the labs that use it and the doctors who trust the results are looking for ways to sort out which of many microorganisms is causing an infection.

Private company Mobidiag, based in Finland, has released technology offering multiplexing capability Hologic plans to expand the platform’s offerings According to financial terms announced Thursday, Hologic will pay around $ 714 million in cash for Acquire Mobidiag The deal includes the net debt of the Finland-based company, estimated at around $ 81 million

Mobidiag was founded in 2000 as a diagnostic company In 2003 it merged with diagnostics developer Genewave from France and with stool-based analysis company Amplidiag from Finland Mobidiag currently markets two polymerase chain reaction (PCR) test platforms, Amplidiag and Novodiag Both are automated instruments that offer test times ranging from 50 minutes to two hours

Mobidiag’s test menu for acute care conditions includes gastrointestinal infections, respiratory infections, antibiotic resistance management, and healthcare associated infections Over the past year, the company added capacity to test Covid-19 Hologic said Mobidiag’s revenue for calendar year 2020 was 35 million euros (approximately $ 42 million)

Hologic divides its operations into five segments: diagnostics, breast health, GYN surgery, skeletal health and medical aesthetics The diagnostics segment is the largest in terms of revenue, accounting for more $ 2 billion of the company’s $ 3 billion in fiscal 2020 revenue This total was 164% higher than the previous fiscal year, an increase the company attributes to sales of Covid tests. 19 newly launched

Hologic’s main molecular diagnostic tests are performed on its instruments: Panther, Panther Fusion and Tigris Panther instruments use PCR The Aptima family of tests detects the microorganisms responsible for sexually transmitted diseases Hologic also offers tests for acute respiratory infections, including SARS-CoV-2

Although Mobidiag offers its own Covid-19 testing offerings, Steve MacMilllan, president, president and CEO of Hologic, said in a prepared statement that the acquisition will prepare his business for a post-pandemic world Mobidiag will allow Hologic to enter the acute care market, which requires testing to be done on patients This market is expected to double in the next five years, MacMillan said

Hologic isn’t the only company that has turned to M&A to boost its ability to deliver multiplex assays Last month, Roche agreed to pay $ 1.8 billion to acquire GenMark Diagnostics, a Carlsbad-based company, in California, which has reported sky-rocketing revenue growth due to demand for a multiplex breath test including SARS-CoV-2

The Mobidiag acquisition is expected to close at the start of Hologic’s fourth quarter of fiscal 2021, which ends in September

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World News – FI – Hologic Launches Multiplex Molecular Test with Mobidiag Acquisition at $ 795 million

Source: https://medcitynews.com/2021/04/hologic-makes-a-multiplex-molecular-testing-move-with-795m-mobidiag-acquisition/