Genetix Announces Further Expansion into Digital Pathology Market through Acquisition of SlidePath

Genetix has acquired SlidePath, a private company based in Dublin, Ireland, for cash and shares worth up to €3.7 million (£3.3 million) of which €2.5 million (£2.2 million) was paid on closing and up to a further €1.2 million (£1.1 million) is payable based on the achievement of EBIT milestones during the years 2009 and 20101.

In line with Genetix’ strategy to accelerate and strengthen its presence in the growing digital pathology market;

Natural progression following on from the 2006 acquisition of Applied Imaging, strengthening Genetix’ tissue analysis product offerings for both the clinical and drug discovery markets;

• SlidePath’s competencies in cell imaging analysis software are aligned to Genetix’ core skills in imaging and image analysis, enabling Genetix to build a stronger platform to offer a broader mix of products for the digital pathology market;

• SlidePath’s expertise in web-enabled viewing, information management and computer-aided image analysis solutions will enhance Genetix’ product offerings through added functionality in its current markets of drug discovery and diagnostics; and

• Genetix’ sales and customer support infrastructure worldwide and deep customer relationships with diagnostics and pharmaceutical companies will open up new markets and customers for SlidePath products.