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Luminex Completes EraGen Purchase for $34M

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Luminex said after the close of the market on Monday that it has completed its $34 million all-cash purchase of EraGen Biosciences.

Luminex said the acquisition of the Madison, Wis.-based molecular diagnostics firm would add between $5 million and $7 million in revenues to Luminex in 2011. The deal is expected to be dilutive to 2011 earnings and accretive to 2012 earnings on a GAAP basis.

Luminex said last week when the deal was announced that EraGen is expected to remain headquartered in Madison.

EraGen develops molecular diagnostic technologies for infectious disease and genetic applications. Its products include its FDA-cleared MultiCode-RTx Herpes Simplex Virus 1&2 kit for detecting and typing HSV-1 or HSV-2 from vaginal lesion swab specimens.

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