Qiagen to buy 61% stake in Ipsogen, aiming to take full control of the molecular diagnostics firm

Netherlands company Qiagen (Nasdaq: QGEN) has entered into binding agreements with a group of major shareholders of Marseille, France-based Ipsogen (Alternext: ALIPS) to purchase around 61% of the firm which is focused on molecular profiling and personalized health care diagnostics  for a broad range of applications in the field of hematology. The latter’s board of directors has voted in favor of the deal, which is expected to complete on July 12.

Last month, Qiagen announced its plans to buy the French firm for 12.90 euros a share, in a deal valued at around 70 million euros ($101.4 million), representing a 71.3% premium to Ipsogen's share price of 7.53 euros on June 13, the last trading day before the announcement. Qiagen said at that time it would subsequently initiate a public tender offer for the remaining shares at the same price if the offer was accepted. The agreements announced on Friday between Qiagen and the group of major shareholders of Ipsogen are made under the terms of this initial announcement.

The acquisition of Ipsogen, a publicly listed company founded in 1999, will provide Qiagen with access to a broad range of assays covering 15 biomarkers used worldwide for the diagnosis, prognosis and monitoring of patients with various blood cancers. Many of these assays also are used as companion diagnostics in personalized healthcare to make and guide treatment decisions.