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Qiagen Discloses It Spent up to $181.7M on Recent Acquisitions

NEW YORK (GenomeWeb News) – Qiagen made three acquisitions in April and May for up to $181.7 million, it disclosed in a document filed yesterday with the US Securities and Exchange Commission.

In its Form 10-Q Qiagen said that the acquisitions included the remaining 60 percent of Scandinavian Gene Synthesis that it didn't already own, and AmniSure International. Qiagen did not provide details on its third acquisition.

Based in Koping, Sweden, Scandinavian Gene Synthesis provides oligonucleotides to the in vitro diagnostics industry. AmniSure is a point-of-care diagnostic firm based in Boston.

The purchase price on the two companies and the undisclosed third firm was about $133.4 million in cash and $48.3 in contingent consideration, Qiagen said in its SEC document. It added that it funded the deals with cash on hand and through use of its revolving credit facilities.

Qiagen also said in its Form 10-Q that on April 10 it entered into a €30 million ($38.8 million) revolving credit facility, which can be used for general corporate purposes. The company did not identify the lender on the facility.

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