Optics.org
daily coverage of the optics & photonics industry and the markets that it serves
News
Menu
Business News

Luminex buys MilliporeSigma's flow cytometry interests for $75 million

24 Oct 2018

Transaction for medical imaging technology assets is expected to be completed by the end of 2018.

US biotech company Luminex, which develops imaging and testing technologies for diverse life-science applications, is to acquire MilliporeSigma's flow cytometry portfolio in a deal valued at $75 million. Luminex stated that the deal will “diversify its footprint in life science research, while expanding its instrument offering into cellular analysis.”

The terms of the purchase consist of $69.9 million to be paid under a Stock & Asset Purchase Agreement and $5.1 million in committed inventory purchases. The deal is expected to close by the end of 2018, and to contribute $40 million to $50 million in revenue to the expanded Luminex in 2019.

This acquisition expands Luminex’s range of flow-based detection systems, centered on its xMAP multiplexing technology, which combines advanced fluidics, optics, and digital signal processing with proprietary microsphere technology to achieve multiplexed assay capabilities.

MilliporeSigma's flow cytometry portfolio includes Amnis, a range of imaging flow cytometry products for cell-based analysis, as well as its Guava range, based on microcapillary technologies.

Homi Shamir, President and CEO of Luminex commented, "We are excited to acquire the flow cytometry assets of our long-term partner MilliporeSigma, to expand our portfolio of detection systems for researchers interested in cellular analysis."

"This strategic agreement allows us to expand our footprint into the multi-billion dollar flow cytometry market. Together with our next generation xMAP system in development, we will be well-positioned to address a range of research needs for our current and future customers."

Analyst conference

Harriss Currie, Senior VP and CFO at Luminex, told the associated analyst conference: “Probably the most exciting aspect of this transaction is the imaging-based systems that combine high-resolution imaging with flow cytometry. Effectively, the image-based products combine the speed, sensitivity and phenotyping of flow cytometry with the detailed imagery and functional insights of microscopy.”

Asked how fast the flow cytometry market is growing and about its total value, Homi Shamir, Luminex’s CEO, replied: “The flow business growing at about 5% to 8% [per year] and which we know to be in the life science industry.” Currie added, “Based on the research that we’ve done, the total cytometry market exceeds $4 billion a year.”

Currie also expended on the value of the new imaging systems Luminex will gain from the deal: “What MilliporeSigma has developed that is really unique provides microscopic-level insight into the flow stream of cells that are flowing through. That will really give us a big advantage in this market.”

He added, “Today, that imaging market is pretty small because it’s a developing market. We are talking about a less than $100 million market. But with significant opportunities in a variety of research areas like cancer research, for instance, where you can really interrogate the cell flowing through and get a lot of meaningful information. And so for us, that really is the most exciting part of this. “

EKSMA OPTICSBristol Instruments, Inc.ULO OpticsPhotonTec Berlin GmbHInfraTec GmbHCobolt ABKentek Corporation
Copyright © 2019 SPIE EuropeDesigned by Kestrel Web Services