Roche makes $3bn offer for Ventana

Roche Diagnostics has announced that it has made a bid of approximately $3 billion (1.5 billion pounds) to acquire tissue-based diagnostics firm Ventana Medical Systems – an offer equal to $75 per share.

The company reports that this price equates to a 44 per cent premium over the cost of the shares when trading closed on June 22nd and a 55 per cent increase over the three-month average price of $48.30.

In looking to acquire Ventana, Roche reports that it is seeking to widen its diagnostic offerings, with this transaction a key stage in the company’s strategy of providing patients with customised healthcare solutions.

This offer follows a number of attempts to discuss the possibility of a negotiated merger with the board and chairman of Ventana – with Roche reporting that such attempts had been declined by the firm – though the company notes that it continues to prefer a negotiated merger.

Franz B Humer, chairman and chief executive officer of Roche, said: “We believe our proposal for Ventana represents a unique opportunity for both our companies and their respective stockholders.

“Ventana will be an outstanding addition to the Roche group, and we believe we are the best strategic partner to capitalise on Ventana’s potential.”

He added that the offer from Roche properly acknowledges the value of Ventana in addition to its expectations for future growth, with Roche expressing a desire for the opening of negotiations with the company.

In April 2007, Roche announced the signing of a definitive merger agreement with electrochemiluminescence based immunochemistry firm BioVeris.