Gen-Probe to Acquire Tepnel Life Sciences, Fast-Growing European Molecular Diagnostics Company, for 92.8 Million Pounds Sterling ($132.2 Millio...(e and marketing of rapid accurate and co...),Health

Date:1/30/2009

e and marketing of rapid, accurate and cost-effective nucleic acid tests (NATs) that are used primarily to diagnose human diseases and screen donated human blood. Gen-Probe has approximately 25 years of NAT expertise, 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 1,000 people. For more information, go to www.gen-probe.com.

About Non-GAAP Financial Measures

This announcement contains certain financial measures that are not calculated in accordance with U.S. GAAP, including non-GAAP EPS. Non-GAAP EPS excludes all non-cash charges such as intangible amortization and stock compensation expense, as well as transaction expenses. Gen-Probe's management believes these U.S. non-GAAP financial measures provide Gen-Probe investors meaningful supplemental information regarding the expected financial results of the acquisition.

Tepnel has not reconciled its historical financial statements to U.S. GAAP. All pro forma combined financial information in this press release is based upon a combination of Gen-Probe historical and projected financial information, prepared in accordance with U.S. GAAP, and Tepnel's historical and projected financial information, prepared in accordance with IFRS. Based on Gen-Probe's preliminary analysis, the Company does not anticipate material adjustments to reconcile U.S. GAAP with IFRS.

Caution Regarding Forward-Looking Statements

Any statements in this press release relating to Gen-Probe's offer and the Company's expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and are forward-looking statements. These statements are often, but not always, made thr
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