Wednesday, October 7, 2009
Gen-Probe Buys Molecular Testing Firm
San Diego-based Gen-Probe said Tuesday that it has signed a definitive agreement to acquire Prodesse, a provider of molecular testing for influenza and other infection diseases. The deal is worth $60M in cash, with provision to increase the price to $85M on meeting specific financial and regulatory milestones. Prodesse was based in Waukesha, WI, and was privately funded.