NEW YORK (GenomeWeb News) – Cepheid today said that it will acquire Stretton Scientific, a UK-based distributor of diagnostic and monitoring equipment, for around £1.2 million ($1.9 million).
Privately held Stretton already distributes Cepheid’s SmartCycler system to customers, including the National Health Service, throughout the UK. The acquisition is expected to “augment our newly established UK-based direct sales team,” Cepheid CEO John Bishop said in a statement.
Cepheid said that it will pay the $1.9 million acquisition price in cash. It expects to close the transaction early this month, subject to customary closing conditions. Cepheid noted that the deal is not expected to have a material impact on its fourth-quarter financial results.