Gen-Probe acquires Prodesse

Oct 23 2009

Gen-Probe (Nasdaq: GPRO) announced today that the Company has completed its acquisition of Prodesse, Inc., a leader in molecular testing for influenza and other infectious diseases, for approximately $60 million in cash.

Gen-Probe's purchase price could increase to up to $85 million if Prodesse achieves certain financial and regulatory milestones in 2010 and 2011.

"We are delighted to complete this acquisition ahead of schedule and welcome Prodesse's employees to Gen-Probe," said Carl Hull, Gen-Probe's president and chief operating officer. "Prodesse has had great success introducing clinically differentiated assays for infectious diseases, including influenza, and we believe our global commercial infrastructure will both facilitate and accelerate their next stage of growth."