NEW YORK (GenomeWeb News) — MDS today said it has closed its $615-million acquisition of Molecular Devices.
MDS is using the purchase to create a new segment, MDS Analytical Technologies, which is a hybrid of Molecular Devices and the MDS Sciex business.
MDS Sciex President Andy Boorn will lead the new business unit.
With the deal, Molecular Devices’ stock was delisted yesterday from the Nasdaq Global Select Market.
The two businesses had combined revenues of $432 million last year, and MDS expects Molecular Devices to contribute $190 million in revenue over the coming year, the company said in January.
MDS said at the time that its Sciex business will continue its mass spectrometry partnerships with Applied Biosystems and PerkinElmer.