Printer Friendly

DIANON SYSTEMS, INC. ANNOUNCES THE PURCHASE OF COLLABORATIVE DIAGNOSTICS

 STRATFORD, Conn., June 30 /PRNewswire/ -- DIANON Systems, Inc. (NASDAQ: DIAN) announced today that it has signed a definitive agreement to acquire Collaborative Diagnostics, a division of Collaborative Research, Inc., Waltham, Mass.
 Collaborative Diagnostics is a provider of cancer and genetic testing services for hospitals throughout the United States, with annualized sales of approximately $1 million. DIANON intends to keep the laboratory in Waltham and continue to offer the same quality and breadth of services to all of Collaborative's current customers.
 Dr. Ray Fenwick, director of Collaborative Diagnostics' laboratory, stated that "this acquisition provides us with the marketing and sales support that we need to significantly expand our business." Prior to this acquisition, Collaborative had a small sales and marketing staff. DIANON has been marketing Collaborative's leukemia/lymphoma immunophenotyping services since the beginning of the year.
 Jack Davis, president and co-CEO of DIANON, stated, "This acquisition contributes to DIANON in two important ways. First, in gynecology it provides the genetic testing technology we have been seeking to significantly expand our laboratory service offerings in pre-natal testing. It complements the recently announced investment in and technology acquisition from Aprogenex, a Houston-based company developing DNA probes for the direct measurement of fetal abnormalities from maternal blood. Second, in oncology it provides a core technology in molecular and cellular biology which will have broad applications for genetic diagnostic and prognostic testing." Mr. Davis added that he expects the acquisition to reduce earnings in 1993 by about $.05 per share and to have a neutral to slightly positive impact on earnings in 1994.
 DIANON Systems, Inc., headquartered in Stratford, Conn., is a leading provider of specialized laboratory testing services to physicians and hospitals in the United States and Europe. DIANON has a dedicated sales force consisting of 60 cancer specialists and 20 Ob/Gyn specialists in the United States.
 -0- 6/30/93
 /CONTACT: Richard A. Sandberg, chairman and co-chief executive officer, 203-381-4022; or John P. Davis, president and co-chief executive officer, 203-381-4033, both of DIANON/
 (DIAN)


CO: DIANON Systems, Inc.; Collaborative Research, Inc. ST: Connecticut, Massachusetts IN: MTC SU: TNM

GK -- NY080 -- 7360 06/30/93 17:03 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 30, 1993
Words:355
Previous Article:W INDUSTRIES MAKES VIRTUAL REALITY A REALITY FOR SEGA; STRATEGIC JOINT VENTURE ANNOUNCED
Next Article:AIM STRATEGIC INCOME FUND, INC. DIVIDEND DECLARATION FOR THE MONTH OF JULY 1993
Topics:


Related Articles
DIANON SYSTEMS REPORTS AUDITED RESULTS FOR THE YEAR ENDED DEC. 31, 1991
DIANON SYSTEMS FORECASTS INCREASE IN SECOND QUARTER SALES
DIANON SYSTEMS, INC. ANNOUNCES THE LAUNCH OF A NATIONAL PROGRAM TO SCREEN FOR PROSTATE CANCER
DIANON SYSTEMS, INC. REPORTS FIRST QUARTER SALES AND EARNINGS
DIANON SYSTEMS, INC. REPORTS SECOND QUARTER SALES AND EARNINGS
DIANON SYSTEMS, INC. ADOPTS STOCKHOLDER RIGHTS PLAN
DIANON SYSTEMS, INC. SIGNS AGREEMENT WITH JAPANESE LABORATORY FOR GENETIC TESTING
DIANON SYSTEMS, INC. REPORTS SECOND QUARTER SALES AND EARNINGS
DIANON SYSTEMS, INC. REPORTS FOURTH QUARTER SALES AND EARNINGS
LabCorp acquires Dianon Systems. (News: Industry Watch).

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters