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Luminex Completes Nanosphere Acquisition

NEW YORK (GenomeWeb) – Luminex has completed its roughly $90 million acquisition of molecular diagnostics firm Nanosphere, the firm announced today.

Its tender offer of $1.70 per share for all of the shares of Nanosphere expired as of midnight on June 29. According to Luminex, as of the expiration of the tender offer, a total of 45,252,609 shares were validly tendered and not withdrawn, representing a total of nearly 86 percent of Nanosphere's outstanding shares.

"This transaction creates an exciting opportunity to enhance our four pillars of growth strategy by providing our customers with a wider array of products, increased support and services, and greater depth in both the molecular microbiology and diagnostic markets," Luminex President and CEO Homi Shamir said in a statement. "Consistent with the prior full-year revenue estimate of between $28 to $30 million dollars, we expect Nanosphere to contribute between $13 million and $16 million to our consolidated revenue in 2016, and we expect its revenue to continue to grow at an annualized rate well into the double digits."

The acquisition provides Luminex with Nanosphere's high-plex, low-throughput system to complement its existing molecular platforms.

Shamir recently said at the Jefferies 2016 Global Healthcare Conference that the firm believes it will report fiscal year 2016 revenues at the high end of its guidance range of $247 million to $255 million.

In early Thursday trade on the Nasdaq, shares of Luminex were down a fraction of 1 percent at $19.84.