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Beckman Coulter to Acquire Diagnostic Systems Laboratories, Inc.
Company Seeks to Gain Leadership in Specialty Endocrine Testing
10-10-2005: Beckman Coulter, Inc. (NYSE:BEC) today announced that it has signed an agreement to acquire all of the stock of Diagnostic Systems Laboratories Corporation (DSL) of Webster, Texas, a leading provider of specialty immunoassays including proprietary technology for reproductive endocrinology and cardiovascular risk assessment. Subject to customary closing conditions, the acquisition is expected to close in mid-October. The acquisition is presently estimated to be $0.01 dilutive to Beckman Coulter's fourth quarter EPS and $0.06 dilutive in 2006 becoming accretive to earnings in the fourth quarter of 2006.
"Coupling DSL's expertise and proprietary tests with Beckman Coulter's industry leading immunoassay platforms should be a winning combination," said Michael Whelan, group vice president of Beckman Coulter's immunoassay business. "DSL is a mature organization with significant scientific and clinical collaboration skills. Together we aim to quickly broaden our immunoassay menu and strategically advance our already successful immunoassay franchise."
With 2004 sales of approximately $34 million, DSL competes in the specialty endocrinology segment of the immunoassay market. DSL markets three proprietary reproductive endocrinology tests, including Inhibin A and B, and anti-Mullerian hormone. In addition, DSL holds exclusive rights to PAPP-A, a marker being evaluated for cardiovascular risk assessment. Recently growing at about 15 percent per year, specialty endocrinology makes up about 10 percent of the $5 billion immunoassay market.
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