Australian diagnostics firm Cellestis gets $355 million offer from Qiagen

In another recent move on an Australian medical company, Netherlands-based Qiagen (Nasdaq: QGEN) has reached an agreement to acquire Cellestis (CST: AU) for around A$341 million ($355 million) in cash, providing Qiagen with access to a novel "pre-molecular" technology that offers a new dimension in disease detection not currently possible with other diagnostic methods.

The acquisition of Cellestis, a publicly-listed, profitable company headquartered in Australia, will provide Qiagen with exclusive rights to QuantiFERON technology, a proprietary approach for disease detection and monitoring.

Noting that the board would unanimously recommend acceptance, Cellestis chairman Ron Pitcher said: "The offer price recognizes the significant value within Cellestis Quantiferon technology, which the management team and staff at Cellestis have developed into a global leading technology in the diagnosis of latent tuberculosis. Shares in Cellestis were 15.3%, higher at $3.46 at 12.58 AEST on Monday.