Roche to acquire BioVeris for $600 million

Roche Diagnostics said the acquisition would allow it to expand its immunochemistry business from the human diagnostics field into new market segments such as life science research, life science development, patient self testing, veterinary testing, drug discovery, drug development and clinical trials.

By acquiring BioVeris, Roche will own the complete patent estate of the electrochemiluminescence (ECL) technology deployed in its Elecsys product line.

“ECL is a highly innovative technology. In comparison with other detection technologies ECL offers distinct advantages such as enhanced sensitivity, short incubation times and broad measuring ranges. This acquisition ensures that Roche will be able to provide unrestricted access to all customers and therefore represents a significant growth opportunity for our immunochemistry business,” said Severin Schwan, CEO Division Roche Diagnostics.

The transaction is subject to the approval of BioVeris's shareholders, receipt of certain regulatory approvals and other customary closing conditions. Subject to satisfaction of these conditions, it is expected that the transaction will be closed during the third calendar quarter of 2007.