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Cepheid makes second diagnostic acquisition.

Sunnyvale, CA 2/15/07 -- Cepheid, a provider of nucleic acid amplification equipment and reagents, has acquired Sangtec Molecular Diagnostics AB from ALTANA Pharma AG for $27 million in cash. Based in Broma, Sweden, Sangtec is a manufactuer of PCR-based molecular diagnostics products and had 2006 revenues of $8 million. Cepheid intends to integrate Sangtec's affigene kits for the immunocompromised market with in vitro molecular diagnostics products.

Cepheid continues to expand its molecular diagnostics PCR business. Last year, the company purchased Actigenics (see IBO 8/15/06), which provides mRNAs. For the first nine months of 2006, the Cepheid's clinical molecular diagnostics market accounted for 22% of sales, or $13.4 million, up from 10% of sales the year before.
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Title Annotation:Executive Briefing: News, Trends & Market Intelligence for Instrument Executives
Publication:Instrument Business Outlook
Date:Feb 15, 2007
Words:120
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