Summary
IDEXX Laboratories, Inc. (IDXX) announced on December 21, 2006, that it has entered into a material definitive agreement to acquire the Critical Care Division of Osmetech plc. This division specializes in electrolyte and blood gas analyzers and related consumables. The acquisition is structured as an asset purchase for approximately $44.9 million in cash, plus the assumption of certain liabilities. The purchase price is subject to a post-closing adjustment based on the net asset value of the acquired division. This move is strategic, as IDEXX currently sources its VetStat® analyzers and consumables from Osmetech and has also engaged them for next-generation product development.
Key Highlights
- 1IDEXX Laboratories is acquiring Osmetech's Critical Care Division for $44.9 million in cash and assumed liabilities.
- 2The acquired division develops and sells electrolyte and blood gas analyzers and consumables.
- 3The transaction is an asset purchase, with the final price subject to a net asset value adjustment.
- 4The acquisition is expected to close around January 31, 2007, pending Osmetech shareholder approval and regulatory requirements.
- 5IDEXX already has an existing relationship with Osmetech, purchasing its VetStat® products and engaging them for future product development.
- 6The acquisition aligns with IDEXX's strategy to integrate critical product lines and technology.