Navigation Links
Luminex Corporation Completes Acquisition of EraGen Biosciences, Inc.

AUSTIN, Texas, June 27, 2011 /PRNewswire/ -- Luminex Corporation (NASDAQ: LMNX) today announced the completion of its acquisition of privately-held EraGen Biosciences, Inc., an innovator in molecular diagnostic testing technologies for infectious disease and genetic applications, for $34 million in cash.


Luminex expects the EraGen acquisition will add between $5 million and $7 million to 2011 consolidated revenue. On a GAAP basis, inclusive of purchase related costs, Luminex expects this acquisition to be dilutive in 2011 and accretive to earnings in 2012.  Luminex expects the acquisition to be neutral to earnings in 2011 on a non-GAAP basis as a result of acquisition costs and required accounting adjustments. These costs are not expected to repeat in subsequent periods.

About EraGen Biosciences, Inc.

EraGen Biosciences develops, manufactures and markets molecular reagent products. The company's in-market and pipeline products, based on its novel, patented MultiCode® platform chemistry, are next generation DNA- and RNA-based testing for the early detection of infectious diseases and genetic-based conditions. For more information, visit the EraGen website at

About Luminex Corporation

Luminex Corporation develops, manufactures and markets proprietary biological testing technologies with applications throughout the diagnostic and life sciences industries. The company's xMAP® multiplex solutions include an open-architecture, multi-analyte technology platform that delivers fast, accurate and cost-effective bioassay results to markets as diverse as pharmaceutical drug discovery, clinical diagnostics and biomedical research, including genomic and proteomic research markets. The company's xMAP technology is sold worldwide and is already in use in leading clinical laboratories as well as major pharmaceutical, diagnostic and biotechnology companies. Further information on Luminex Corporation or xMAP technology can be obtained at

Statements made in this release that express Luminex' or management's intentions, plans, beliefs, expectations or predictions of future events are forward-looking statements. Forward-looking statements in this release include statements regarding: projected financial results of EraGen and their effect and the effect of the acquisition on Luminex financial results. The words "believe," "expect," "intend," "estimate," "anticipate," "will," "could," "should" and similar expressions are intended to further identify such forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. It is important to note that the Company's actual results or performance could differ materially from those anticipated or projected in such forward-looking statements. Factors that could cause Luminex' actual results or performance to differ materially include risks and uncertainties relating to, among others, market demand and acceptance of Luminex' products and technology, the Company's dependence on strategic partners for development, commercialization and distribution of products, concentration of the Company's revenue in a limited number of strategic partners, fluctuations in quarterly results due to a lengthy and unpredictable sales cycle and bulk purchases of consumables, Luminex' ability to scale manufacturing operations and manage operating expenses, gross margins and inventory levels, potential shortages of components, competition, the timing of regulatory approvals, the implementation, including any modification, of the Company's strategic operating plans, the uncertainty regarding the outcome or expense of any litigation brought against Luminex, risks relating to Luminex' foreign operations, risks and uncertainties associated with implementing our acquisition strategy and the ability to integrate acquired companies, or selected assets into our consolidated business operations, including the ability to recognize the benefits of our acquisitions, as well as the risks discussed under the heading "Risk Factors" in Luminex' Reports on Forms 10-K and 10-Q, as filed with the Securities and Exchange Commission. The forward-looking statements, including the financial guidance and 2011 outlook, contained herein represent the judgment of Luminex as of the date of this press release, and Luminex expressly disclaims any intent, obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in Luminex' expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.



Harriss T. Currie
Chief Financial Officer and Vice President, Finance
Luminex Corporation


Matthew Scalo
Sr. Director, Investor Relations
Luminex Corporation


Mimi Torrington
Director, Marketing Communications
Luminex Corporation

Aaron DeLuca
Porter Novelli

SOURCE Luminex Corporation
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Luminex Corporation Named Most Innovative Company of the Year and Receives Business Innovation of the Year Award for MAGPIX® System
2. Luminex Corporation Announces Agreement to Acquire EraGen Biosciences, Inc.
3. Luminex and Life Technologies Sign Agreement for Global Distribution of the Award-Winning MAGPIX® Multiplexing Instrument
4. Luminex Corporation to Present at Jefferies 2011 Global Healthcare Conference
5. Luminex Corporation Reports First Quarter 2011 Results
6. Luminex Corporation First Quarter Earnings Release Scheduled for May 9, 2011
7. Luminex Corporation Wins Prestigious Medical Design Excellence Award
8. Luminex Corporation to Present at Cowen and Companys 31st Annual Health Care Conference
9. Luminex Corporation Ranked One of the 25 Fastest-Growing Technology Companies in America by Forbes for Third Consecutive Year
10. Luminex and Partners HealthCare Announce Collaboration Agreement
11. Luminex Corporation Reports Fourth Quarter and Full Year 2010 Results
Post Your Comments:
(Date:10/9/2015)... Ontario , Oct. 9, 2015 /PRNewswire/ ... radiology furniture, monitor mounting solutions and reading ... Hospital,s Department of Pediatric Radiology realize their ... RedRick Technologies provided ergonomic design guidance and ... clinical collaboration and teaching. George ...
(Date:10/9/2015)... , October 9, 2015 ... --> The report summarizes key ... overall status of the manufacturers making ... and direction for companies and individuals ... . --> ...
(Date:10/9/2015)... PHILADELPHIA , October 9, 2015 ... Conference, Oct. 7-9   ... information products and services, today launched ClinicalKey for Nursing ... authoritative content, tailored to meet the unique needs of nursing ... in Atlanta , Oct. 7-9, will have ...
Breaking Medicine Technology:
... CeQur SA, a company focused on the development ... management of type 2 diabetes, announced the appointment of ... directors, effective immediately. , Milledge is a 34-year ... recently served as company group chairman of Lifescan Inc., ...
... , PITTSBURGH, Oct. 6 Foundation Radiology Group ... services, headquartered in downtown Pittsburgh, recently added Shawn ... growing staff. , Kramer, a 20-year client services ... AT&T Wireless Services, Ceridian, and XO Communications. , ...
Cached Medicine Technology:
(Date:10/9/2015)... ... October 09, 2015 , ... With the FCPX LUT Vibrance pack from ... A LUT is a Lookup Table that contains a mathematical formula for modifying an ... table. This pack comes with 60 vibrant CUBE LUT files. , Inspired ...
(Date:10/9/2015)... ... October 09, 2015 , ... Advanced Hearing Solutions, Nashville based ... Toast of Music City, a reader’s choice awards featuring favorite places to shop, ... for their favorite businesses in over 200 categories, including best pizza, best day ...
(Date:10/9/2015)... ... October 09, 2015 , ... On Saturday, September 26, ... Jump Rope Championship in Madrid, Spain. Representing both the USA and Sweden in the ... Unders and One-Minute Am Front Crosses, she was awarded 1 Silver and 4 Gold ...
(Date:10/9/2015)... ... October 09, 2015 , ... "As a nurse, I care ... Philadelphia, Pa. "They have to wear large diapers or pads. We came up with ... the TROUSAFE to absorb urine leaking from the tip of the penis. This prevents ...
(Date:10/9/2015)... ... October 09, 2015 , ... Santa Rosa Consulting and The ... MD Anderson prepares to go-live on the Epic platform in March of 2016. Both ... Santa Rosa will execute the contract by supporting Scheduling Appointment Conversion and the Go-Live. ...
Breaking Medicine News(10 mins):
... Reporter , MONDAY, Feb. 14 (HealthDay News) -- Obesity and ... of an average of 3.5 years of life in which ... pain, new research finds. Some 40 percent of older ... an often painful and potentially disabling condition that can be ...
... 300-year ancestry of deaf people in America, Richard C. Pillard, ... Medicine (BUSM) and his co-authors argue that deaf people who ... group. The book, "The People of the Eye: Deaf ... people who identify themselves as members of Deaf-World and compares ...
... News) -- Smoking may increase the risk of the fatal ... year in the United States, more than 5,500 people are ... is no cure for the disease and treatments are very ... long-term studies that involved a total of more than 1.1 ...
... HealthDay Reporter , MONDAY, Feb. 14 ... with attention-deficit hyperactivity disorder may reveal insights into ... according to two new studies. In joint ... and the Kennedy Krieger Institute in Baltimore performed ...
... cancer, approximately 25% have a subtype that is characterized ... HER2-positive breast cancer tends to be more aggressive than ... HER2-positive breast cancer is so aggressive could aid in ... a team of researchers, led by Lewis Chodosh, at ...
... This release is available in French . ... Engineering Research Council of Canada (NSERC) awarded 12 prizes ... than C$1 billion, the federal granting agency is the ... Artificial intelligence and machine learning pioneer Geoffrey Hinton was ...
Cached Medicine News:
Indications For Usage: ,Adult (recommended tidal volume >150ml), single patient use on anesthetized patients and respiratory care patients who require a breathing circuit. The product is intended to ...
Indications For Usage: ,Adult (recommended tidal volume >150ml), single patient use on anesthetized patients and respiratory care patients who require a breathing circuit. The product is intended to ...
... The Portex® Thermovent® T helps provide protection ... It is small and extremely lightweight making it ... adults. With a high rate of heat and ... secretion retention., ,All HMEs and filters have ...
... helps provide protection to the exposed airway of ... lightweight making it ideal for active young children ... of heat and moisture recovery, it ensures patient ... and filters have ISO standard tapered ends to ...
Medicine Products: