Abbott To Acquire Starlims Technologies

Abbott has entered into a definitive agreement to acquire Starlims Technologies for approximately $123m in cash. As Abbott integrates Starlims into its existing portfolio of laboratory information management products, the company will continue to support and expand the non-clinical market segments currently served by Starlims.

As per the terms of the agreement, Abbott is expected to acquire all outstanding equity of Starlims for $14 per share, for a total purchase price of approximately $123m. Starlims currently has approximately $18m in cash.

The company said that the transaction does not impact Abbott’s previously issued ongoing earnings-per-share guidance for 2009 and is subject to customary closing conditions. Abbott expects the transaction to close in the first quarter of 2010.

Edward Michael, executive vice president of diagnostics products at Abbott, said: The acquisition of Starlims will provide Abbott with leading products to build upon existing technologies and expertise in the emerging field of healthcare informatics. Starlims’ advanced web-based technologies can help our customers operate efficiently across the core laboratory, molecular and point-of care segments of the global diagnostics market.

Itschak Friedman, chief executive officer of Starlims, who will continue to lead the Starlims team after the acquisition closes, said: We believe our laboratory information management solutions, which are widely used by government, manufacturing and life sciences organizations, have important applications in clinical laboratories for improving the access, exchange and analysis of patient and technical data.

We look forward to becoming a part of Abbott and working together to serve our current customers and expand the availability of our technologies to address unmet needs in laboratories around the world.