Navigation Links
Beckman Coulter Completes Acquisition of Olympus' Lab-Based Diagnostics Business
Date:8/2/2009

ORANGE COUNTY, Calif., Aug. 2 /PRNewswire-FirstCall/ -- Beckman Coulter, Inc. (NYSE: BEC), a leading developer, manufacturer and marketer of products that simplify, automate and innovate complex biomedical testing, announced today the completion of the acquisition of Olympus' lab-based diagnostics business. This acquisition, first announced in February, extends Beckman Coulter's leadership position in Chemistry and Automation.

(Logo: http://www.newscom.com/cgi-bin/prnh/20031202/BECLOGO )

Scott Garrett, chairman, president and chief executive officer, said, "The completion of this transaction adds considerable product depth and significantly expands our geographic reach and scale. We are confident that the combination of Olympus diagnostics with our business will provide many cross-selling opportunities -- the most compelling being promotion of Beckman Coulter's leading Immunoassay products to the loyal base of Olympus' chemistry customers.

"We remain focused on creating shareholder value through growth, quality and operating excellence. This acquisition demonstrates Beckman Coulter's commitment to further extend our leadership position in chemistry and sustain our above-market growth in immunoassay," concluded Garrett.

Beckman Coulter delivered approximately 76 billion Japanese yen in cash, or approximately USD $780 million, which was funded as follows:

  • Approximately $495 million in net proceeds raised from the issuance of two $250 million senior note offerings of 6- and 10- year maturities with 6% and 7% coupons, respectively.
  • Approximately $240 million in a common stock offering comprised of approximately 4.7 million shares issued to the public at $53.00 per share, or $50.75 net proceeds per share. In connection with the offering, Beckman Coulter entered into forward sale agreements which were settled July 27, 2009, at which time the newly issued shares were added to Beckman Coulter's total outstanding shares.

The company expects to provide additional details on the impact of the transaction on 2009 results during the company's third quarter earnings news release and conference call in late October, and expectations for 2010 will be included at the company's Annual Business Review on December 17, 2009.

About Beckman Coulter

Beckman Coulter, Inc., based in Fullerton, California, develops, manufactures and markets products that simplify, automate and innovate complex biomedical tests. More than 200,000 Beckman Coulter systems operate in laboratories around the world, supplying critical information for improving patient health and reducing the cost of care. Recurring revenue, consisting of consumable supplies (including reagent test kits), service and operating-type lease payments, represent about 78% of the company's 2008 revenue of $3.1 billion. For more information, visit www.beckmancoulter.com.

    Contact:  Cynthia Skoglund
              (714) 773-7620
              Manager, Investor Relations


'/>"/>
SOURCE Beckman Coulter, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Beckman Coulter to Present at the Bear Stearns Healthcare Conference
2. Beckman Coulter to Present at the UBS Global Life Sciences Conference
3. Beckman Coulter Announces Third Quarter 2007 Earnings to Be Released on Tuesday, October 30, 2007 Before Market Opens
4. Beckman Coulter Declares Quarterly Dividend
5. Beckman Coulter Announces Third Quarter 2007 Results
6. Beckman Coulter to Present at the 19th Annual Piper Jaffray Healthcare Conference
7. Beckman Coulter to Present at the Lazard Capital Markets Fourth Annual Healthcare Conference
8. Beckman Coulter to Acquire Exclusive Rights to Break-Through Technologies
9. Beckman Coulter Elects AMN Healthcare Executive to Board of Directors
10. Beckman Coulter to Present at the JPMorgan Healthcare Conference
11. AcroMetrix Signs Development and Supply Agreement With Beckman Coulter Inc. for Molecular Quality Control Standards
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/7/2016)... PA (PRWEB) , ... December 07, 2016 , ... ... website, http://www.autoreactors.com and online shopping cart. The new website has been ... functionality. These essential digital components allow customers to access detailed product information, read ...
(Date:12/6/2016)... ... December 06, 2016 , ... ... privately-held contract pharmaceutical development and manufacturing organisation, today announced the formation ... combining a leading CRO and the industry’s only Contract Commercial Organization (CCO). ...
(Date:12/6/2016)... (PRWEB) , ... December 06, ... ... a Great Point Partners ("GPP") portfolio company, today announced it has acquired ... previously a subsidiary of Chiltern International and focuses on clinical trial drug ...
(Date:12/6/2016)... , Dec. 6, 2016  The Texas ... Society of Australia (HISA) today announced the establishment ... exchange program between Australia and ... the world. HISA and the Texas ... a program to create a global health innovation ecosystem ...
Breaking Biology Technology:
(Date:12/6/2016)... Securus Technologies, a leading provider of ... safety, investigation, corrections and monitoring, and the Prison ... (5) year funding commitment by Securus to PEP ... and reentry support to more inmates and their ... the Prison Entrepreneurship Program (PEP) is an independent ...
(Date:12/2/2016)...   SoftServe , a global digital technology ... electrocardiogram (ECG) biosensor analysis system for continuous driver ... The smart system ensures device-to-device communication between ECG ... mobile devices to easily ,recognize, and monitor users ... technology advances, so too must the security systems ...
(Date:11/29/2016)... Nov. 29, 2016 BioDirection, a privately held ... for the objective detection of concussion and other traumatic ... successfully completed a meeting with the U.S. Food and ... test Pre-Submission Package. During the meeting company representatives reviewed ... a precursor to commencement of a planned pilot trial. ...
Breaking Biology News(10 mins):