Roche buys US blood-testing firm for initial $220m
Contingent payments dependent on achievement of certain milestones
Roche said the acquisition would strengthen its position in the laboratory haematology-testing business
Swiss drugmaker Roche is buying Constitution Medical Investors (CMI), the US developer of a testing system for blood diseases like leukaemia, for an upfront $220 million, plus further contingent payments.
Roche, the world’s largest maker of cancer drugs, said yesterday the contingent payments depended on the achievement of certain milestones.
It said CMI would strengthen Roche’s position in the laboratory haematology-testing business, with an estimated global market size of more than $2 billion. CMI is developing “Bloodhound” technology which should save laboratory space by replacing several workstations with a single, compact unit.