Italian diagnostics firm DiaSorin has agreed to buy U.S. rival Luminex Corp for $1.8 billion in a move that could boost its molecular business and offset a potential drop in demand for COVID-19 tests as the pandemic is brought under control.
The pandemic has fuelled rapid growth at Diasorin’s molecular division, which in 2020 accounted for 29% of sales. But as the rollout of COVID-19 vaccines progresses, some analysts have raised concern about a possible drop in demand for COVID-19 molecular tests once the emergency is over.
The deal, which grows DiaSorin’s footprint in the key U.S. market, follows a similar acquisition by diagnostics rival Roche, which bought GenMark Diagnostics in a $1.8 billion deal to fill a testing portfolio gap.
Luminex will be merged with a newly formed U.S. subsidiary of DiaSorin. The combined group would have had 2020 revenues of around $1.5 billion.
Read more at Reuters
By Giancarlo Navach
