The firm said it is tackling challenges in its Diagnostics business, which had 2 percent growth year over year on a comparable basis in its fiscal fourth quarter.
The company said it plans to move all its immunoassays to a single vendor, representing an opportunity worth between $250 million and $400 million annually.
Industry experts say a receptive market and investor interest in new technologies have spurred the increase in genomics tools and molecular diagnostics IPOs.
Ascend Clinical Laboratory said it replaced its existing Siemens analyzers with the Atellica to manage growth, including during periods of high demand.
The firm anticipates that point-of-care adoption may attract licensing deals from companies interested in adding the biomarkers to their large laboratory analyzers.
With the firm seeing lower profitability in diagnostics, its CEO said it is focusing on improving earnings strength with the Atellica Solution IVD platform.
