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Molecular Devices Snaps Up Cellular Imaging Company For $22 Million

NEW YORK, June 4-Molecular Devices said yesterday that it had acquired Universal Imaging Corporation, which develops systems for automated cellular imaging and screening.


UIC's  MetaMorph software, which provides for the capture and analysis of cellular images, is currently installed in about 2,000 institutions. Its Discovery-1 system integrates the cellular imaging system with microplate-based instrumentation to provide cell-based data for drug discovery.


UIC was established in 1983, and is based in Downington, Pa. In 2001, it had 42 employees and revenues of $9.6 million. The company is profitable on an operating basis, according to MDC.


Molecular Devices paid $22 million to acquire all outstanding capital stock in Universal Imaging, and expects the company to generate $6 million to $7 million in revenue by the end of the calendar year.


The transaction will have no impact on earnings per share guidance, said Molecular Devices.


For more information, see the company press release.

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