Switzerland-based pharmaceuticals and diagnostics developer Roche has purchased US-based Constitution Medical Investors (CMI) for $220m, as part of its strategy to strengthen its hematology testing portfolio.
CMI is a hematology testing system, which is claimed to boost patient care by offering correct diagnosis of blood-related diseases.
Under the terms of the agreement, Roche will make further contingent payments following achievement of some milestones. CMI will act as a hematology centre within Roche Diagnostics.
Roche Diagnostics COO Roland Diggelmann said, "With this acquisition, we will further strengthen our commitment to hematology and drive towards integrated laboratory solutions with innovative products which deliver medical value to our customers and patients."
CMI CEO, chairman Patrick Sullivan noted that the company is excited about the prospect of continuing its successful development as part of the Roche Group and bringing its technology to medical laboratories in the service of patients on a global scale.
The acquisition will further boost Roche's competitive position in the global laboratory hematology testing business, which is valued at over $2bn in 2011.
