Beckman Coulter buys Olympus’ lab-based diagnostics business

Beckman Coulter has completed the acquisition of Olympus’ lab-based diagnostics business, it has announced.

Commenting on the transaction, which was first announced on February 27th, Scott Garrett, chairman, president and chief executive of the firm, said it adds "considerable product depth" to the company’s offerings.

He said that Beckman Coulter is confident that the purchase will provide a range of cross-selling opportunities, the most compelling of which is promotion of the firm’s leading immunoassay products to Olympus’ chemistry customers.

"This acquisition demonstrates Beckman Coulter’s commitment to further extend our leadership position in chemistry and sustain our above-market growth in immunoassay," Mr Garrett concluded.

Additional details of the transaction are expected to be provided during the firm’s third quarter earnings news release in late October.

In a statement issued at the time of the original announcement of the acquisition, Beckman Coulter said that the Olympus Diagnostics business is expected to increase its revenue by around $500 million (294.4 million pounds) on a full-year basis.