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Diagnostics Business News

Financial news, mergers and acquisitions, partnerships, and alliances.

The German company offers rare disease genetic tests and services for clinical applications and to support clients' drug discovery and development programs.

The firm said that the second tranche is part of the financing provided by Ampersand Capital for the $23.5 million acquisition of Cancer Genetics' biopharma business earlier this year.

If the underwriters exercise their option to purchase the over-allotment in full, total gross proceeds from the offering would be $230 million.

While clinical lab product revenues were flat year over year, point-of-care sales spiked 29 percent on higher HIV test sales in Africa.

The company's revenues were driven by its centralized and point-of-care solutions as well as its molecular diagnostics business, both rising in the single digits.