Saluggia, Italy-based DiaSorin’s board of directors has unanimously approved and signed a definitive merger agreement for DiaSorin to acquire Austin, Texas-based Luminex for a price of USD 37.00 per share in an all-cash transaction. This corresponds to a total equity value of approximately USD 1.8 billion on a fully diluted basis and an enterprise value of approximately USD 1.8 billion.
Luminex develops, manufactures, and sells proprietary biological testing technologies and products with leading applications throughout the diagnostics and life science industries. The company is a leader in multiplexing technology, one of the fastest growing markets in the molecular space, with more than 900 active clients. With its first-class technology and extensive Life Science solutions supporting clinical and pharmaceutical research and development, DiaSorin says Luminex is highly complementary to its growing diagnostics segment.
The acquisition will broaden DiaSorin’s positioning in the molecular diagnostics space and strengthen its existing value proposition in line with its strategic priorities. Through the acquisition, DiaSorin will gain access to Luminex’s molecular diagnostics multiplexing technology and a portfolio that will strengthen its existing offering while expanding its presence in the United States. The acquisition will also provide access to Luminex’s applications throughout the life science industry, supporting access to academic and scientific research to shape market intelligence on future market trends, engaging with biopharma companies to drive opportunities for long-term partnerships (e.g. vaccine development, biological drugs) and access to clinical multiplexing assays for future value-based care projects based on diagnostic algorithms, as defined at the 2019 DiaSorin Investor Day.
“We are really excited about this transaction, which we believe creates value for our shareholders and represents an outstanding opportunity for our future growth, positioning DiaSorin and Luminex as a unique combination of diagnostic specialists,” says Carlo Rosa, CEO of DiaSorin Group. “Luminex perfectly fits with our strategy to grow our positioning in the molecular diagnostics space, to broaden our presence in the US, and to create additional value through life science offerings. Together, DiaSorin and Luminex will provide a unique offer to laboratories, researchers, clinicians, and patients worldwide, matching our extensive solutions in immunodiagnostics and molecular diagnostics with Luminex’s outstanding expertise in multiplexing technology and recognized leadership in life science applications. We look forward to having DiaSorin and Luminex employees working together for an exciting new journey.”
“With the merger into DiaSorin, we believe we can expand the value our customers receive through an expanded global product and service portfolio. The proposed transaction underscores the respected position Luminex has built in the marketplace and rewards our shareholders with attractive value for their shares,” says Nachum “Homi” Shamir, chairman, president, and CEO of Luminex. “The combined company should provide new opportunities for our employees within a larger company that is poised to become a strong leader in the molecular diagnostics and life sciences space, and I want to thank all of our employees, customers, and partners for their contributions over our 25+ year history.”
For more information, visit DiaSorin.