Nestle Health Science to acquire Prometheus Laboratories

May 24 2011

Prometheus Laboratories Inc., ("Prometheus") a specialty pharmaceutical and diagnostic company, today announced that it has entered into a definitive agreement to be acquired by Nestle Health Science S.A., a wholly-owned subsidiary of Nestle S.A., for an undisclosed amount.  

Nestle Health Science became operational in January 2011 with the goal of pioneering science-based nutritional solutions in order to deliver improved personalized healthcare for medical conditions. In the longer term, the company aims to use nutritional solutions to change the healthcare paradigm and deliver affordable and effective health benefits which are also safe and sustainable.

Prometheus' capabilities strongly support Nestle Health Science's ambition of pioneering science-based nutritional solutions to deliver improved personalized healthcare for medical conditions.

"This is a strategic move into gastrointestinal diagnostics. Prometheus's leading edge diagnostics technology and outstanding sales force will help us to develop an integrated approach to personalized healthcare," said Luis Cantarell, Nestle Health Science President and Chief Executive Officer. "It is fully consistent with our vision of pioneering science-based nutritional solutions to deliver improved personalized healthcare for medical conditions."

"We are delighted to join Nestle Health Science, and we share their commitment to personalized healthcare. With Nestle Health Science's support, we will accelerate the development of our innovative diagnostic platforms for gastroenterology and oncology and potentially into additional important therapeutic areas," said Joseph M. Limber, Prometheus President & Chief Executive Officer.  "We also intend to leverage Nestle Health Science's nutritional product offerings and geographic presence to expand our successful Rx/Dx business model into a Dx/Nx/Rx model."