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3/15, 8:07 AM (Source: TeleTrader)
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Roche to acquire GenMark Diagnostics for $1.8 billion

Roche Holding AG announced on Monday the company would buy GenMark Diagnostics, the American company developing molecular diagnostic tests, for $1.8 billion. According to the Swiss healthcare company, GenMark will be sold for $24.05 per share in an all-cash transaction.

"Acquiring GenMark Diagnostics will broaden our molecular diagnostics portfolio to include solutions that can provide lifesaving information quickly to patients and their healthcare providers in the fight against infectious diseases," Roche Chief Executive Thomas Schinecker commented on the agreement.

Roche noted that GenMark's California operations would continue as usual after the deal is finalized in the second quarter of the year.

Breaking the News / ND