The university's researchers have developed a laboratory test that measures the body's response to infection in the blood, and can distinguish between bacterial and viral meningitis.
Siemens adds more than 80 assays and panels to its Versant kPCR molecular diagnostics system with the acquisition, which also broadens Siemens' customer base.
Under the terms of the deal, Siemens will expand its kPCR Molecular System menu to include Fast-track's range of tests covering several medical conditions.
Mergers and acquisitions in the omics space rose for the second year in a row, but the increase was significantly less than the 33 percent uptick in 2015 deals.
The deal gives Siemens Healthineers access to Neo New Oncology's next-generation sequencing-based assays and technology for tissue and biofluid specimens.
The companies will work together to pursue US Food and Drug Administration clearance for a workflow combining Siemens' sample prep module and Thermo's qPCR instrument.