Varian, Inc. Acquires Analogix Business( PAULO ALTO Calif. Nov. 5 /- Varia...),Health

PAULO ALTO, Calif., Nov. 5 /PRNewswire-FirstCall/ -- Varian, Inc. (Nasdaq: VARI) today announced that it has acquired the assets of Analogix, Inc., a privately owned company based in Burlington, Wisconsin, for approximately $11 million in cash plus assumed net debt, subject to certain net asset adjustments. The transaction also includes the opportunity for additional purchase price payments over three years, depending on future milestones and financial performance. Those future payments could total up to $4 million if performance targets are achieved.

Analogix is a technology leader in the development of consumables and instrumentation for automated compound purification, using flash chromatography, for the pharmaceutical industry.

"The acquisition of Analogix is strategic to the advancement of Varian's goal to grow applications based consumables products and to further broaden its product offering to the pharmaceutical industry," said Garry Rogerson, President and CEO, Varian, Inc. "Analogix has demonstrated an ability to successfully meet customer needs in the area of drug discovery and to grow its business rapidly in North America. Analogix products will now be distributed more effectively on a global basis via Varian's worldwide distribution network."

"The sale of Analogix to Varian is a win-win situation," said Nick DeMarco, President of Analogix. "With a dedicated group of employees, we have been able to bring the company to its current level of success. I am excited for both our employees and our customers to be able to take Analogix to the next level of development and distribution as part of Varian."

Flash chromatography is a technique used by medicinal chemists in the pharmaceutical i
'/>"/>