Nothing but negotiation

The Gap Partnership

Miraca Holdings finishes sales negotiations with CLS

Miraca Holdings will be taking over Caris Life Sciences for $725 million.

07 October 2011

Clinical diagnostics firm Miraca Holdings is to take over Caris Life Sciences (CLS) after the pair completed business negotiations.

The deal is expected to cost the former $725 million (£470 million), however CLS' Target Now molecular profiling service and Carisome are not included in the agreement.

David Halbert, chairman and chief executive officer of CLS, stated it is brilliant that a deal has been arranged with a "likeminded partner".

"Miraca shares our vision for changing healthcare globally through better diagnosis and has demonstrated a dedication to high quality," he added.

Mr Halbert continued by saying he is looking forward to seeing how the pathology business will develop and grow under the command of Miraca, a firm that was established in 2005 when Fujirebio and SRL merged.

Subject to customary closing conditions being fulfilled - and Target Now and Carisome successfully becoming a separate entity - the deal is all but completed.

Posted by Ron Maverick

Source: Miraca press release, October 6th

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