DiaSorin To Buy Focus Molecular And Immunoassay Product Business From Quest

(RTTNews) - DiaSorin S.p.A. and Quest Diagnostics (DGX) announced they have entered into a purchase agreement under which DiaSorin will buy Quest's Focus Diagnostics, Inc. immunodiagnostic and molecular diagnostic products business. DiaSorin will pay to Quest Diagnostics $300 million in cash for all the tangible and intangible assets of Focus used by the company to develop, manufacture and distribute its molecular diagnostic products and its traditional immunoassay ELISA products, including among other relevant intellectual property, contracts and customer list.

As a result of the acquisition, DiaSorin will have access to a new set of molecular products cleared for distribution both in the US and Europe, significantly increasing its presence in the growing market of Infectious Disease molecular testing. The transaction is expected to be immediately accretive to DiaSorin's ongoing earnings per share upon close.