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Magellan Biosciences Sells TREK Microbiology Business to Thermo Fisher Scientific
Date:7/18/2011

CHELMSFORD, Mass., July 18, 2011 /PRNewswire/ -- Magellan Biosciences, a global manufacturer of products designed to make diagnostic testing easier, more cost-effective, and less labor intensive, announced that it has sold its microbiology business, TREK Diagnostic Systems, to Thermo Fisher Scientific (NYSE: TMO). The sale will enable Magellan to focus all its resources on its LeadCare® and Dynex® businesses, both of which have been experiencing strong growth. Terms of the sale were not disclosed.

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"Thermo Fisher is an ideal home for the TREK business and its 150 employees around the world," commented Magellan's President and CEO, Hiroshi Uchida, Ph.D. "TREK's automated blood culture, microbial identification, and microbial susceptibility testing platforms complement Thermo Fisher's portfolio of microbiology technologies. We will now focus on realizing our ambitious plans for expanding the reach and growth of our remaining businesses," Dr. Uchida continued. "This is an exciting time for Magellan."

Dynex – Later this month at AACC, Magellan will be previewing its breakthrough Dynex Agility™ ELISA processing system, which brings true automation and extraordinary ease-of-use to what historically has been a tedious and time-consuming process. Magellan has removed all of the manual set-up and data entry from the workflow, eliminating nearly 50 percent of the hands-on time compared with traditional systems, significantly reducing cost of ownership as well as cost per test. Rather than the manual reagent loading and data input of current systems, Agility's designers have vastly simplified the process – working with assay manufacturers to develop pre-loaded Smartkits™ that the user installs directly from the shipping package. The Smartkit format eliminates the need for manual reagent transfer and includes a barcode system that electronically
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