Home health remedies Luminex to buy MilliporeSigma’s flow cytometry portfolio for $75m

Luminex to buy MilliporeSigma’s flow cytometry portfolio for $75m

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Luminex has signed a definitive agreement to buy MilliporeSigma’s flow cytometry portfolio for $75m.

This deal amount comprises around $69.9m to be paid under a stock and asset purchase agreement and around $5.1m in committed inventory purchases.

The transaction is likely to complete by the end of this year and expected to contribute anywhere between $40m and $50m in revenue to Luminex in 2019.

“MilliporeSigma’s flow cytometry portfolio comprises Amnis, a line of imaging flow cytometry products for cell-based analysis; and Guava, a line of high-performance systems based on microcapillary technologies.”

Luminex will be able to expand its current offering of flow-based detection systems, which is based on its innovative xMAP multiplexing technology. So far, over 15,000 xMAP systems have been sold across the world.

xMAP Technology combines optics, advanced fluidics, and digital signal processing with microsphere technology to offer multiplexed assay capabilities.

MilliporeSigma’s flow cytometry portfolio comprises Amnis, a line of imaging flow cytometry products for cell-based analysis; and Guava, a line of high-performance systems based on microcapillary technologies.

Luminex president and CEO Homi Shamir said: “As innovators in flow-based technologies, we are excited to acquire the flow cytometry assets of our existing long-term partner MilliporeSigma, thereby expanding our portfolio of detection systems to address researchers interested in cellular analysis.”

Shamir further added: “This strategic agreement – our first acquisition in the research space – allows us to expand our footprint into the multi-billion dollar flow cytometry market. We expect this deal to provide the opportunity for meaningful growth.”

MilliporeSigma CEO Udit Batra said: “This is an exciting opportunity for both of our organizations and I would like to extend my sincerest thanks to our committed colleagues.

“Luminex is a long and trusted partner who has provided a wide range of solutions for clinical diagnostics, pharmaceutical drug discovery and biomedical research. Luminex shares our conviction to solve the toughest problems in life science. This will be a great new home for the team to build on their expertise and introduce more solutions to a broader base. At the same time, our existing customers will get access to Luminex’s respected product portfolio.”

Cantor Fitzgerald & Co is serving as a financial advisor to Luminex, while Smith, Gambrell & Russell is acting as a legal counsel to the company in this deal.

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