Qiagen acquires Verogen for $150M to bolster forensics portfolio
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Qiagen (NYSE:QGEN) stated it done the acquisition of DNA-biometrics business Verogen for $150M.
Verogen develops DNA-based biometric human identification merchandise for analysis of forensic genomic samples. The San Diego-centered corporation makes use of following-technology sequencing (NGS) systems for human identification (HID) and forensic investigation.
Qiagen reported the acquisition bolsters its place in Human ID / forensics anchored by sample selection and planning, genetic screening analysis and workflow automation.
The deal builds upon a commercialization partnership among the two companies partners on a distribution arrangement in June 2021.
“Bringing collectively Verogen and Qiagen makes a exclusive possibility to improved help investigators and researchers to advance forensic science and to uncover lacking individuals, properly identify suspects and exonerate the innocent,” mentioned Qiagen CEO Thierry Bernard.
Qiagen mentioned that Verogen’s sequencing and assessment methods are designed for use on the MiSeq FGx Sequencing Procedure from Illumina. With the acquisition, Qiagen gains exceptional distribution legal rights for this edition of the MiSeq sequencer built for forensics apps.
Qiagen included that it also gains whole obtain to Verogen’s pioneering GEDmatch databases and GEDmatch Professional portal.
Qiagen said it compensated $150M in cash for privately held Verogen from existing reserves and currently expects about $20M of profits from the Verogen portfolio in 2023, developing on about $5M of sales for Qiagen in 2022 from the distribution agreement.
The transaction is predicted to be dilutive to complete-year 2023 modified EPS by about $.03 for every share and neutral to adjusted EPS in 2024, in accordance to Qiagen.
