California-based biomedical testing instrument manufacturer Beckman Coulter has signed a definitive agreement to acquire Cogenics division from Clinical Data, a biotechnology company, for approximately $17 million.
Clinical Data’s Cogenics division provides outsourced genomics services.
Under terms of the agreement, Clinical Data will receive approximately $15.4 million at the closing, which is expected in April.
In addition, Clinical Data expects to retain approximately $2 million in cash from Cogenics immediately prior to the sale. In exchange, Beckman Coulter will acquire all of Cogenics’ operations in the U.S., UK, Germany and France.
The acquisition of Cogenics complements Beckman Coulter’s Agencourt Biosciences’ business, which delivers genomic services and nucleic acid purification products, and expands its reach into new territories.