Roche acquires German cancer testing firm mtm laboratories for up to 190 million euros
Switzerland’s Roche (ROG: SIX), a global leader in cancer therapeutics and diagnostics, it has signed an agreement under which it will acquire 100% of mtm laboratories AG, a privately-held company based in Heidelberg, Germany.
Under the terms of the agreement, Roche will pay mtm shareholders an upfront payment of about 130 million euros ($183.6 million), as well as up to around 60 million euros on reaching performance-related milestones. The transaction is subject to customary closing conditions and is expected to close in the coming weeks.
Roche notes that mtm is a global leader in developing in vitro diagnostics with a focus on early detection and diagnosis of cervical cancer, the largest early detection market in oncology. mtm will become part of Roche’s Tissue Diagnostics (Ventana Medical Systems) business unit.
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