Mesa Labs Plans To Acquire Agena Bioscience For US$300 Million
Mesa Laboratories, Inc. (Nasdaq: MLAB), also known as Mesa Labs, announced today that it has entered into a definitive agreement to acquire molecular diagnostics tools company Agena Bioscience, Inc. The acquisition is reported to be for US$300 million.
“Agena brings an innovative approach to the challenges of clinical genomics. Their MassArray system is a proven platform which integrates the best of mass spectroscopy and multiplex PCR; providing a unique combination of sensitivity, cost-effectiveness, fast turnaround time, ease of use, and flexibility,” said Mesa Labs CEO Gary Owens.
The healthcare firm relayed that it expects to finance the all-cash transaction with its cash on hand and proceeds from the credit facility. The acquisition is expected to add between US$63 million and US$67 million of revenues plus between US$3 million and US$5 million of COVID-19 related revenues during the first 12 months of ownership.
The acquisition is expected to close during Mesa Labs’ third fiscal quarter ending December 31, 2021, subject to customary closing conditions and regulatory approvals.
Mesa Laboratories last traded at US$280.00 on the Nasdaq.
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