Luminex Corporation Announces Agreement to Acquire GenturaDx

Luminex Corporation LMNX today announced a definitive agreement to acquire privately-held, GenturaDx, a molecular diagnostics company focused on making nucleic acid testing both affordable and practical for any laboratory. GenturaDx is in late stage development of a fully integrated, highly automated, real-time PCR system that employs a single-use cassette for true sample-to-answer workflow. This new system will make rapid, high-quality molecular diagnostics accessible to hospitals and patients worldwide. The integration of Luminex's MultiCode-RTx chemistry with the GenturaDx instrument is expected to result in a market leading system for molecular diagnostic testing. Financial Details Under the terms of the agreement Luminex will purchase all outstanding shares of GenturaDx for a cash payment of $50 million, subject to working capital reconciliation and potential additional contingent consideration for achievement of future milestones and/or product revenue performance. Luminex anticipates the acquisition will add approximately $6 million in 2012 operating expenses, excluding acquisition related expenses.