Roche Buys Constitution Medical Investors for initial $220M Payment
Roche (OTC: RHHBY) announced today that it has acquired Constitution Medical Investors, Inc. (CMI), based in Boston Massachusetts (USA). CMI is the developer of a highly innovative hematology testing system, which is designed to provide faster and more accurate diagnosis of blood-related diseases, thereby improving patient care. CMI was created and funded by the private equity firm Warburg Pincus and members of CMI's management team. Under the terms of the agreement, Roche will pay CMI shareholders USD 220 million upfront, as well as further contingent payments depending on the achievement of certain milestones. CMI will serve as a center of excellence in the field of hematology within Roche Diagnostics.
“With this acquisition, we will further strengthen our commitment to hematology and drive towards integrated laboratory solutions with innovative products which deliver medical value to our customers and patients. Patients will benefit from faster and more accurate diagnosis of blood diseases such as anemia and leukemia”, says Roland Diggelmann, COO of Roche's Diagnostics. “We are happy to welcome CMI's employees, a very talented group of people with strong expertise and domain knowledge in the field of hematology, to the Roche Group”, he adds.
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