QIAGEN (NYSE:QGEN; Frankfurt Prime Standard: QIA), a Venlo, Netherlands-based holding company, acquired Verogen, a San Diego, CA-based company using next-generation sequencing technologies to drive the future of human identification and forensic investigation.
The acquisition amounted to $150m in cash paid from existing reserves. QIAGEN currently expects about $20 million of sales from the portfolio in 2023, building on about $5 million of sales for QIAGEN in 2022 from the distribution agreement. Due to planned investments for commercialization and portfolio development, the transaction is expected to be dilutive to full-year 2023 adjusted EPS by about $0.03 per share and neutral to adjusted EPS in 2024.
With the acquisition, Qiagen will strengthen its position in the field of Human ID / forensics anchored by sample collection and preparation, genetic testing analysis and workflow automation. The company also gains access to Verogen’s GEDmatch database and GEDmatch PRO™ portal. GEDmatch allows users to upload genetic profiles created by other genealogy sites in order to expand the search for familial links; it currently contains more than 1.8 million genealogical profiles and continues to grow. GEDmatch PRO™ is designed to support police and forensic teams with investigative comparisons to data uploaded by consenting GEDmatch users.
Led by CEO Brett Williams, Verogen is a dedicated developer of DNA-based biometric human identification products for analysis of forensic genomic samples.
Led by CEO Thierry Bernard, QIAGEN is a provider of Sample to Insight solutions that enable customers to gain molecular insights from samples containing the building blocks of life. Its sample technologies isolates and processes DNA, RNA and proteins from blood, tissue and other materials. Assay technologies make these biomolecules visible and ready for analysis. Bioinformatics software and knowledge bases interpret data to report relevant, actionable insights. QIAGEN provides solutions to more than 500,000 customers around the world in Molecular Diagnostics (human healthcare), Applied Testing (primarily forensics), Pharma (pharma and biotech companies) and Academia (life sciences research).
FinSMEs
10/01/2023