QIAGEN Announces Closing of the Acquisition of SABiosciences
(Thomson Reuters ONE) - Corporate news announcement processed and transmitted by Hugin AS.The issuer is solely responsible for the content of this announcement. ------------------------------------------------------------------------------------ VENLO, The Netherlands, December 14, 2009 - QIAGEN N.V. (NASDAQ:QGEN; Frankfurt, Prime Standard: QIA) today announced the completionof its previously announced acquisition of SABiosciences Corporation,a privately-held developer and manufacturer of disease- andpathway-focused PCR assay panels based in Frederick, Maryland (USA).The closing follows the approval of the acquisition by SABiosciences'stockholders and the expiration of the statutory 30-day waitingperiod under the Hart-Scott-Rodino Antitrust Improvements Act of1976. QIAGEN had announced the signing of a definite agreement toacquire SABiosciences on November 9, 2009."We are pleased to now have completed the transaction", said Peer M.Schatz, Chief Executive Officer of QIAGEN. "Together with our newcolleagues we will initiate the integration process. We believe thisprocess will be a quick and smooth one - given the high level ofcomplementarities. I would like to use this opportunity to welcomeour new employees to QIAGEN. Their competence will help us leveragethe combined Company's value proposition in the field of biomarkerdiscovery and validation for the development of future diagnosticsand pharmaceuticals."SABiosciences brings to QIAGEN a unique position in the design andcommercialization of more than 100 PCR assay panels which allow forhigh-performance analysis of DNA, RNA, epigenetic and microRNAtargets in biological pathways associated with specific diseases orwith defined pathways. These assay panels may be operated on QIAGENinstruments in the future. QIAGEN expects that the combined offeringwill strengthen its position as a premium partner for thepharmaceutical industry and to yield content for its three moleculardiagnostic segments: prevention, profiling and personalizedhealthcare.QIAGEN had already disclosed its intention to expand the business ofdisease- and pathway-focused assay panels and to further growSABiosciences' Frederick site as a Center of Excellence in biologicalcontent development. The proximity to QIAGEN's North Americanheadquarters in Maryland is expected to contribute to a rapid andsmooth integration.Until further notice, customers in the U.S. can continue to order PCRassay panels from SABiosciences' website at www.sabiosciences.com,while customers based outside the U.S. can order from their localdistributors.In the November 9 announcement of the acquisition, QIAGEN said itexpects the transaction: * To add revenues of approximately US$24 million in sales for 2010. The growth rate on these US$24 million in revenues is expected above QIAGEN's average growth rate. * To incur one-time charges of approximately US$0.02 in earnings per share (EPS) in the last quarter of 2009 which primarily relates to costs and expenses incurred in connection with the acquisition such as advisory fees as well as the write-off of certain assets. * To be neutral to EPS in 2010 on an adjusted basis excluding one-time charges, integration and restructuring costs, and amortization of acquisition related intangible assets, and to be significantly accretive to adjusted EPS in 2011.The transaction was valued at approximately US$90 million in cashsubject to customary purchase price adjustments.About QIAGEN:QIAGEN N.V., a Netherlands holding company, is theleading global provider of sample and assay technologies. Sampletechnologies are used to isolate and process DNA, RNA and proteinsfrom biological samples such as blood or tissue. Assay technologiesare used to make such isolated bio-molecules visible. QIAGEN hasdeveloped and markets more than 500 sample and assay products as wellas automated solutions for such consumables. The company provides itsproducts to molecular diagnostics laboratories, academic researchers,pharmaceutical and biotechnology companies, and appliedtesting customers for purposes such as forensics, animal or foodtesting and pharmaceutical process control. QIAGEN's assaytechnologies include one of the broadest panels of moleculardiagnostic tests available worldwide. This panel includes the digeneHPV Test, which is regarded as a "gold standard" in testing forhigh-risk types of human papillomavirus (HPV), the primary cause ofcervical cancer, as well as a broad suite of solutions for infectiousdisease testing and companion diagnostics. QIAGEN employs more than3,400 people in over 30 locations worldwide. Further informationabout QIAGEN can be found at http://www.qiagen.com/.SAFE HARBOR STATEMENTStatements contained in this release that are not historical factsare forward-looking statements, including statements about ourproducts, markets, strategy and operating results. Such statementsare based on current expectations that involve risks anduncertainties including, but not limited to, those associated with:management of growth and international operations (including currencyfluctuations and logistics), variability of our operating results,commercial development of our markets (including applied testing,clinical and academic research, proteomics, women's health/HPVtesting, molecular diagnostics, personalized healthcare and companiondiagnostics), our relationships with customers, suppliers andstrategic partners, competition, changes in technology, fluctuationsin demand, regulatory requirements, identifying, developing andproducing integrated products differentiated from our competitors'products, market acceptance of our products, and integration ofacquired technologies and businesses. For further information, referto our filings with the SEC, including our latest Form 20-F.Information in this release is as of the date of the release, and weundertake no duty to update this information unless required by law. # # #Contacts:Investor Relations: Public Relations:Dr. Solveigh Mähler Dr. Thomas TheuringerDirector Investor Relations Associate Director PublicQIAGEN N.V. Relations+49 2103 29 11710 QIAGEN GmbHe-mail: solveigh.maehler(at)qiagen.com +49 2103 29 11826 e-mail:Albert F. Fleury thomas.theuringer(at)qiagen.comInvestor Relations North AmericaQIAGEN N.V.+1 301 944 7028e-mail: albert.fleury(at)qiagen.com --- End of Message ---Qiagen N.V.Spoorstraat 50 KJ Venlo NetherlandsWKN: 901626; ISIN: NL0000240000; Index: HDAX, MIDCAP, Prime All Share, TECH All Share, TecDAX;Listed: Prime Standard in Frankfurter Wertpapierbörse, Freiverkehr in Börse Berlin, Freiverkehr in Börse Düsseldorf, Freiverkehr in Hanseatische Wertpapierbörse zu Hamburg, Freiverkehr in Niedersächsische Börse zu Hannover, Freiverkehr in Bayerische Börse München, Freiverkehr in Börse Stuttgart;
Datum: 14.12.2009 - 08:04 Uhr
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