Nanogen to acquire Amplimedical in €8.1 million deal

By Lisa Kerner

Erie, Pa., April 20 - Nanogen, Inc. said it will acquire the assets of Amplimedical SpA's diagnostics division on May 1 in an €8.1 million transaction, consisting of €2.0 million cash and €6.1 million in a promissory note convertible into Nanogen common shares.

Amplimedical's diagnostics business will merge with Nanogen's existing European operations to form Nanogen Advanced Diagnostics, SrL, based in Italy. The new company will be the focal point for Nanogen's operations in Europe, the Middle East, Africa and India.

The acquisition builds on the companies' five-year business history in which Amplimedical distributed Nanogen's NanoChip Molecular Biology Workstation and NanoChip 400 instrument systems in Italy.

"The addition of significant revenue and resources from this acquisition provides an ideal launching point for Nanogen's accelerated growth in Europe and nearby territories," Nanogen president and chief operating officer David Ludvigson said in a company news release.

Amplimedical, a wholly owned subsidiary of Amplifon, manufactures molecular diagnostic products. The company is located in Italy.

San Diego-based Nanogen develops and manufactures advanced diagnostic products.

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