Dade Behring to be bought out by Siemens

Dade Behring is to be acquired by Siemens Medical Solutions, the company has revealed.

The German healthcare developer is to purchase Dade Behring for 77 dollars (38 pounds) per share, the regulatory announcement states.

Under the terms of the agreement, the acquisition is to take place in the form of a merger with a Siemens subsidiary.

Jim Reid-Anderson, chair, president and chief executive officer of Dade Behring, stresses that the clinical diagnostics provider’s commitment to a high level of service remains.

"We will continue to serve our clinical laboratory customers with the same care and commitment that we always have," he claims.

"As part of Siemens Medical Solutions Diagnostics, the combined businesses will continue to follow that same strategy into the future."

A recent financial statement from the firm saw quarterly revenue rise by eight per cent year-on-year and a six per cent increase in earnings for the previous six months.