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Gen-Probe Acquires GTI Diagnostics for $53 Million in Cash
Date:12/16/2010

inancial guidance regarding the transaction in this news release.  In addition, transaction-related professional fees will be expensed as incurred, as required by GAAP per ASC 805 "Business Combinations."

Excluding the charges discussed above, and on a non-GAAP basis, Gen-Probe expects the acquisition will be slightly accretive to the Company's 2011 earnings per share (EPS).  

Gen-Probe financed the transaction with cash currently on its balance sheet.  

Cooley LLP served as legal counsel to Gen-Probe on the transaction, and Jones Day served as legal counsel to Riverside.

About Gen-ProbeGen-Probe Incorporated is a global leader in the development, manufacture and marketing of rapid, accurate and cost-effective molecular diagnostic products and services that are used primarily to diagnose human diseases, screen donated human blood, and ensure transplant compatibility.  Gen-Probe has approximately 27 years of expertise in nucleic acid testing (NAT), and received the 2004 National Medal of Technology, America's highest honor for technological innovation, for developing NAT assays for blood screening. Gen-Probe is headquartered in San Diego and employs approximately 1,300 people. For more information, go to www.gen-probe.com.

About GTIGTI Diagnostics was incorporated in Wisconsin in May 1985 as the for-profit subsidiary of the Blood Research Institute (BRI).  BRI is part of the BloodCenter of Wisconsin, a large community-based blood bank located in Milwaukee.  In July of 2008, the BRI sold its interest in GTI to the Riverside Company, but BRI and GTI maintain a research and licensing collaboration today.  GTI, which employs approximately 100 people, maintains state-of-the-art manufacturing and R&D facilities in Waukesha, Wisconsin.  

Caution Regarding Forward-Looking StatementsAny statements in this news release about our expectations, b
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SOURCE Gen-Probe Incorporated
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