VENLO, The Netherlands, December 14, 2009 - QIAGEN N.V. (NASDAQ:
QGEN; Frankfurt, Prime Standard: QIA) today announced the completion
of its previously announced acquisition of SABiosciences Corporation,
a privately-held developer and manufacturer of disease- and
pathway-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 waiting
period under the Hart-Scott-Rodino Antitrust Improvements Act of
1976. QIAGEN had announced the signing of a definite agreement to
acquire 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 new
colleagues we will initiate the integration process. We believe this
process will be a quick and smooth one - given the high level of
complementarities. I would like to use this opportunity to welcome
our new employees to QIAGEN. Their competence will help us leverage
the combined Company's value proposition in the field of biomarker
discovery and validation for the development of future diagnostics
and pharmaceuticals."
SABiosciences brings to QIAGEN a unique position in the design and
commercialization of more than 100 PCR assay panels which allow for
high-performance analysis of DNA, RNA, epigenetic and microRNA
targets in biological pathways associated with specific diseases or
with defined pathways. These assay panels may be operated on QIAGEN
instruments in the future. QIAGEN expects that the combined offering
will strengthen its position as a premium partner for the
pharmaceutical industry and to yield content for its three molecular
diagnostic segments: prevention, profiling and personalized
healthcare.
QIAGEN had already disclosed its intention to expand the business of
disease- and pathway-focused assay panels and to further grow
SABiosciences' Frederick site as a Center of Excellence in biological
content development. The proximity to QIAGEN's North American
headquarters in Maryland is expected to contribute to a rapid and
smooth integration.
Until further notice, customers in the U.S. can continue to order PCR
assay panels from SABiosciences' website at www.sabiosciences.com,
while customers based outside the U.S. can order from their local
distributors.
In the November 9 announcement of the acquisition, QIAGEN said it
expects 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 cash
subject to customary purchase price adjustments.
About QIAGEN:
QIAGEN N.V., a Netherlands holding company, is the
leading global provider of sample and assay technologies. Sample
technologies are used to isolate and process DNA, RNA and proteins
from biological samples such as blood or tissue. Assay technologies
are used to make such isolated bio-molecules visible. QIAGEN has
developed and markets more than 500 sample and assay products as well
as automated solutions for such consumables. The company provides its
products to molecular diagnostics laboratories, academic researchers,
pharmaceutical and biotechnology companies, and applied
testing customers for purposes such as forensics, animal or food
testing and pharmaceutical process control. QIAGEN's assay
technologies include one of the broadest panels of molecular
diagnostic tests available worldwide. This panel includes the digene
HPV Test, which is regarded as a "gold standard" in testing for
high-risk types of human papillomavirus (HPV), the primary cause of
cervical cancer, as well as a broad suite of solutions for infectious
disease testing and companion diagnostics. QIAGEN employs more than
3,400 people in over 30 locations worldwide. Further information
about QIAGEN can be found at
http://www.qiagen.com/.
SAFE HARBOR STATEMENT
Statements contained in this release that are not historical facts
are forward-looking statements, including statements about our
products, markets, strategy and operating results. Such statements
are based on current expectations that involve risks and
uncertainties including, but not limited to, those associated with:
management of growth and international operations (including currency
fluctuations and logistics), variability of our operating results,
commercial development of our markets (including applied testing,
clinical and academic research, proteomics, women's health/HPV
testing, molecular diagnostics, personalized healthcare and companion
diagnostics), our relationships with customers, suppliers and
strategic partners, competition, changes in technology, fluctuations
in demand, regulatory requirements, identifying, developing and
producing integrated products differentiated from our competitors'
products, market acceptance of our products, and integration of
acquired technologies and businesses. For further information, refer
to our filings with the SEC, including our latest Form 20-F.
Information in this release is as of the date of the release, and we
undertake no duty to update this information unless required by law.
# # #
Contacts:
Investor Relations: Public Relations:
Dr. Solveigh Mähler Dr. Thomas Theuringer
Director Investor Relations Associate Director Public
QIAGEN N.V. Relations
+49 2103 29 11710 QIAGEN GmbH
e-mail: solveigh.maehler@qiagen.com +49 2103 29 11826
e-mail:
Albert F. Fleury thomas.theuringer@qiagen.com
Investor Relations North America
QIAGEN N.V.
+1 301 944 7028
e-mail: albert.fleury@qiagen.com
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.