Good Chemistry? Beckman Will Acquire Olympus Diagnostics For $800 Mil.

Article preview from "The Gray Sheet" - March 2, 2009

Beckman Coulter's proposed $800 million acquisition of Tokyo-based Olympus Diagnostics would help grow its chemistry diagnostics portfolio and expand its global presence, the firm said Feb. 27.

"The complementary market positions and product portfolios in chemistry and automation will broaden the global sales opportunity and increase customer choice, while facilitating penetration of Beckman Coulter's immunoassay products into the Olympus chemistry customer base," CEO Scott Garrett explained during a conference call announcing the deal.

"While Beckman Coulter's has U.S. scale, Olympus adds considerable scale in Europe," a region where Beckman has not "has good penetration up until now," Garrett said.

Click here to purchase this article online or sign up for a 30-day, risk-free trial of "The Gray Sheet."