QIAGEN N.V. announced that its wholly owned subsidiary QIAGEN GmbH has entered into a definitive agreement to acquire artus Gesellschaft für molekularbiologische Diagnostik und Entwicklung mbH, an established leader in PCR-based molecular diagnostic tests for pathogenenic, genotyping and pharmacogenomic testing. QIAGEN expects that this transaction will add approximately US$15 million in net sales and US$1.5 - 2.0 million in net income to QIAGEN's 2006 financial results.
QIAGEN believes that this acquisition is a perfect fit in its strategy to increase QIAGEN's value as a partner to the molecular diagnostics industry. In addition to its leading position in preanalytical sample preparation in molecular diagnostics, QIAGEN is now able to offer optimized and synchronized combinations of preanalytical sample preparation and diagnostic assay solutions to its partners in molecular diagnostics. By providing the opportunity for partners in molecular diagnostics to expand their portfolio by adding artus' validated assays, QIAGEN intends to further contribute to accelerating the growth of molecular diagnostics by broadening the menu of tests available on today's diagnostic platforms.
Subject to the terms of the acquisition agreement, QIAGEN will pay approximately US$39.2 million in cash in exchange for all of the outstanding capital stock of artus GmbH. Approximately US$11.6 million of this consideration will be paid into escrow and will be released subject to certain milestones being met. QIAGEN expects to incur charges relating to the acquisition of approximately US$2.0 - 3.0 million in its financial results for the second quarter of 2005.