The transaction is expected to close during the fourth quarter, after which Iris will become part of Danaher's Beckman Coulter Diagnostics business. Over the past few years the firm acquired Beckman Coulter, AB Sciex, Genetix, Molecular Devices and Leica. The Iris acquisition is the latest to further Danaher's presence in the molecular tools and diagnostics market. "Iris will benefit from being part of a larger organization with significant resources to enable the acceleration of its diversified product pipeline strategy," Iris President and CEO Cesar Garcia said in a statement. Iris had fiscal-year 2011 revenues of $118.3 million. Management did an excellent job in focusing the employees on common, consistent goals. Working on 5 different projects I found my fellow employees collaborative. Working at Beckman Coulter was never boring. Last year Iris announced a restructuring that included the discontinuation of its non-proprietary testing services but retaining some staff to continue developing lab-developed tests based on the NADiA platform. Program Manager, Urinalysis (Former Employee) - Chatsworth, CA - February 15, 2018. The subsidiary also runs a CLIA lab and offers a test for identifying patients at risk of developing prostate cancer following a prostatectomy.
The firm also operates a personalized medicine subsidiary developing assays based on the firm's Nucleic Acid Detection Immuno-Assay (NADiA) technology, which combines the specificity of monoclonal antibody capture with the sensitivity of real-time polymerase chain reaction detection. 14.Ĭhatsworth, Calif.-based Iris has three operating units: Iris Diagnostics, Iris Sample Processing, and Iris Molecular Diagnostics. The purchase price represents a 45 percent premium to Iris' closing stock price of $13.42 on Sept. The total consideration being paid is $338 million including debt and net of cash acquired, said Danaher. NEW YORK (GenomeWeb News) – Danaher today said that it has signed definitive agreement to acquire diagnostics and sample prep technologies firm Iris International for $19.50 per share in cash. Advances in Clinical Genomics Profiling.