Genetix Completes Acquisition of Applied Imaging Corporation
News Nov 22, 2006
Genetix Group plc. the cell biology and health technology group, has announced that following approval by the stockholders of Applied Imaging Corporation it has completed the acquisition of AI for approximately $25.8m in cash (approximately £13.6m).
Commenting on the acquisition, Mark Reid, Chief Executive of Genetix said:
“Combining with Applied Imaging will increase Genetix’ strength in cell imaging and analysis allowing us to exploit the growth opportunities in both the drug discovery and clinical diagnostics markets. As we move to integrate the two businesses, our priority is to expand our product portfolio and improve the level of support for our wider customer base and ultimately increase shareholder value.”