QIAGEN Acquires Verogen Strengthening Its Position In Human ID / Forensics - Qiagen (NYSE:QGEN)

QIAGEN NV QGEN has acquired Verogen, a privately held company founded in 2017 and based in San Diego, for $150 million.
QIAGEN expects about $20 million of sales from the Verogen portfolio in 2023, building on about $5 million for QIAGEN in 2022 from the distribution agreement.
The transaction is expected to be dilutive to full-year 2023 adjusted EPS by about $0.03 per share and neutral to adjusted EPS in 2024.
Verogen offers next-generation sequencing (NGS) technologies to drive the future of human identification (HID) and forensic investigation to help resolve criminal and missing person cases.
QIAGEN and Verogen have been commercialization partners since announcing a distribution agreement in June 2021.
The International Commission on Missing Persons in the Netherlands to date has profiled over 44,000 bone samples and made over 18,000 identifications – all processed using QIAGEN chemistry and kits.
Verogen's sequencing and analysis solutions are designed for the MiSeq FGx Sequencing System from Illumina Inc ILMN.
With this acquisition, QIAGEN gains exclusive distribution rights for this version of the MiSeq sequencer designed specifically for forensics applications.
More than 300 MiSeq FGx Sequencing Systems have been placed to date, marking a strong entry into this market segment.
QIAGEN also gains full access to Verogen's pioneering GEDmatch database and GEDmatch PRO portal. GEDmatch allows users to upload genetic profiles created by other genealogy sites to expand the search for familial links.
It currently contains more than 1.8 million genealogical profiles.
Price Action: QGEN shares are down 0.42% at $49.79 during the premarket session on the last check Monday.

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