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Nanogen to Acquire Spectral Diagnostics Cardiac Test Business for $7.7M

Dec 20, 2005

NEW YORK, Dec. 20 (GenomeWeb News) - Nanogen will acquire Spectral Diagnostics' rapid cardiac immunoassay test business, including the cardiac STATus, Decision Point, and i-Lynx product lines, the companies said today.

 

Nanogen will assume related sales, marketing, and manufacturing activities for the product lines, which it said it will combine with its own StatusFirst congestive heart failure test. The transaction, expected to close during the first quarter of 2006, is subject to approval by Spectral's shareholders.

 

Nanogen will pay CDN$9 million ($7.7 million) for the business, comprised of CDN$5.65 million in cash and CDN$3.35 million in Nanogen common shares, the companies said.

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