OraSure Technologies, Inc., a company that develops, manufactures, markets, and sells oral fluid diagnostic products and specimen collection devices in the United States and internationally, announced that it has completed its previously-announced acquisition of DNA Genotek Inc., a premium provider of oral fluid sample collection, preparation and stabilization products used for molecular diagnostic applications, for 50 million Canadian dollars in cash (approximately US $50.7 million with current exchange rates). The funding for the acquisition was made by OraSure with cash on hand.
The acquisition of DNA Genotek makes OraSure’s leadership in oral fluid diagnostics stronger by providing OraSure with a complementary portfolio of products that allow for easy and reliable collection, stabilization, storage, and transportation of high quality nucleic acid (RNA and DNA) samples. These samples can then be utilized for a wide range of research and diagnostic applications.
DNA Genotek, based in Ottawa, Canada, caters to more than 3,000 customers in over 100 countries globally, including various top research universities and hospitals in the U.S. DNA Genotek’s leading product, the Oragene®•DNA Self-Collection Kit, offers an all-in-one system for the stabilization, collection, transportation, and purification of DNA from saliva. DNA Genotek products are utilized in the clinical genetic testing, academic research, pharmacogenomics, personalized medicine, livestock genetics, and animal genetics markets. DNA Genotek is a leader in providing oral fluid collection devices to the direct-to-consumer personal genetics testing market. DNA Genotek will be operating as a wholly-owned subsidiary of OraSure.
More details regarding this acquisition can be found in the Company’s Current Reports on Form 8-K filed with the Securities and Exchange Commission on July 25, 2011 and August 18, 2011.
For more information on OraSure Technologies, visit their website at www.orasure.com
Find out more about DNA Genotek at www.dnagenotek.com
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