Roche increases diagnostics capability with acquisition of Ventana

30 January 2008

Swiss pharmaceutical and diagnostics giant Roche has bought US diagnostics company Ventana Medical Systems for about $3.4 billion.

The acquisition of Arizona-based Ventana, a leader in the fast-growing histopathology (tissue-based diagnostics) market, will allow Roche to broaden its diagnostic offerings and complement its world leadership in both in-vitro diagnostic systems and oncology therapies.

The offer price if $89.5 per share represents a premium of 4.9% on Ventana's closing price on January 18, 2008.

"Our combined company will be uniquely positioned to further expand Ventana's business globally and together develop more cost-efficient, differentiated and targeted medicines," said Franz Humer, Chairman and CEO of Roche.

Christopher Gleeson, Ventana's President and Chief Executive Officer, will continue as CEO of Ventana's business following completion of the transaction and become a member of the Roche Diagnostics Executive Committee. Ventana will remain based in Tucson, Arizona and its employees will become part of the combined company.

Ventana's President and CEO Christopher Gleeson said, "I am confident that Ventana's unique position at the forefront of the emerging field of companion diagnostics and its robust growth in both advanced staining and primary staining ideally complements the strong position of Roche in the field of diagnostics and oncology over the long term."