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Gen-Probe Completes Tepnel Acquisition

NEW YORK (GenomeWeb News) – Gen-Probe today said that it has completed its acquisition of Tepnel Life Sciences for £92.8 million (US$136.4 million).

The acquisition provides Gen-Probe with an entry into the transplant diagnostics market as well as genetic tests that Gen-Probe believes are complementary to its molecular diagnostics products. Tepnel also has collaborations with pharmaceutical clients to develop companion diagnostics.

Gen-Probe expects the acquisition to be neutral to its 2009 earnings per share and accretive to its 2010 EPS.

It noted that the cash consideration of 27.1 pence per share will be sent to Tepnel's shareholders within 14 days.

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