Utah’s business landscape is rich with professionals who have le...Read More
Social Media and Employers: Friends or Enemies?
The Case for HSAs
Time to Show Up
Make a Move
In the Lab
Rent to Own
Back from the Dead
A Breath of Fresh Air
Travel & Tourism
Salt Lake City—bioMérieux, a French company that provides in vitro diagnostics, has entered into an agreement to acquire BioFire Diagnostics Inc., a privately held Salt Lake-based company specialized in molecular biology.
Under the terms of the agreement, bioMérieux will acquire 100 percent ownership of BioFire. The transaction will include a $450 million acquisition price and the company’s net financial debt. Completion of this acquisition remains subject to usual closing conditions, in particular certain regulatory approvals. The deal is expected to close by the end of the fiscal year or in early 2014 and consequently will not have a significant impact on sales and current operating income before non-recurring items in 2013. Acquisition costs will amount to €6 million to be recorded under non-recurring items.
“We could not have found a better shareholder than bioMérieux, world leader in clinical and industrial microbiology,” said Kirk Ririe, chief executive officer and founder of BioFire. “This is an exciting next step in the evolution of BioFire, and it will allow us to achieve our mission of helping to make the world a healthier and safer place and to continue to support our biodefense customers in the United States Department of Defense and allied forces.”
BioFire invented, manufactures and commercializes its multiplex PCR FilmArray system, a simple and rapid molecular biology solution dedicated to the diagnosis of infectious diseases.