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Roche eyes firm to boost position
Source: Agencies |
August 24, 2010, Tuesday
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SWISS pharmaceutical company Roche Group yesterday said it is buying California-based medical scanning company BioImagene Inc for US$100 million to strengthen its position in the field of tissue-based cancer diagnostics and research.
"The increasing complexity of new tests and technologies creates tremendous need for more sophisticated tools for tissue analysis and diagnosis," the head of Roche's diagnostics division, Daniel O'Day, said in a statement.
Privately-held BioImagene, based in Sunnyvale, specializes in producing high-resolution pictures from microscope slides and also provides image archiving and retrieval products for pathologists.
Analysts at Helvea said the acquisition would complement and strengthen Roche's existing diagnostics portfolio, particularly at its subsidiary Ventana Medical Systems Inc.
Switzerland-based Roche said it expects to complete the purchase of BioImagene in the coming weeks.
"The increasing complexity of new tests and technologies creates tremendous need for more sophisticated tools for tissue analysis and diagnosis," the head of Roche's diagnostics division, Daniel O'Day, said in a statement.
Privately-held BioImagene, based in Sunnyvale, specializes in producing high-resolution pictures from microscope slides and also provides image archiving and retrieval products for pathologists.
Analysts at Helvea said the acquisition would complement and strengthen Roche's existing diagnostics portfolio, particularly at its subsidiary Ventana Medical Systems Inc.
Switzerland-based Roche said it expects to complete the purchase of BioImagene in the coming weeks.
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