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news.OraSure Technologies plans to acquire DNA Genotek, which provides oral fluid sample collection, stabilization and preparation products for molecular diagnostic applications.
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Through the $53m acquisition OraSure hopes to strengthen its position in oral fluid diagnostics as DNA Genotek will offer a complementary portfolio of products for easy and reliable collection, stabilisation, transportation and storage of nucleic acid samples.
Following the acquisition, DNA Genotek will operate as a wholly-owned subsidiary of OraSure.
DNA Genotek president and CEO Ian Curry said the acquisition will be instrumental in taking the company to the next level and will increase the ability to capitalize quickly on the opportunity in rapidly growing molecular research and clinical diagnostic markets.
The transaction, which is expected to close in the third quarter of 2011, is subject to the satisfaction of customary closing conditions.