Miraca Holdings to Acquire Caris Life Sciences' Anatomic Pathology Business
Caris Life Sciences
06.10.2011 08:27
---------------------------------------------------------------------------
TOKYO and Irving, Texas, 2011-10-06 08:27 CEST (GLOBE NEWSWIRE) --
Miraca Holdings Inc. ('Miraca'), Japan's largest clinical diagnostics and
laboratory testing service provider, and Caris Life Sciences, Inc. ('CLS'), a
privately-held company headquartered in Texas and specializing in the
development and commercialization of the highest quality anatomic pathology,
molecular profiling, and blood-based diagnostic technologies, today announced
that the two companies have reached a definitive agreement under which Miraca
will acquire the anatomic pathology business operated by Caris Diagnostics,
Inc. ('CDx,' a 100% subsidiary of CLS) and its subsidiaries and affiliates. The
total purchase price shall be $725 million, including the repayment of the
existing debt, subject to customary post-closing price adjustments. The
transaction does not include CLS' Caris Target Now(tm) molecular profiling service
or Carisome(tm) circulating microvesicle technology, currently under development.
CDx is a leading pathology company specializing in gastrointestinal pathology,
dermatopathology, hematopathology and urologic pathology services. Providing
nationwide laboratory testing services out of three state-of-the-art
laboratories in Irving, Texas, Newton, Massachusetts, and Phoenix, Arizona, CDx
provides diagnosis and prognosis services for more than 3,500 patients daily.
With cutting-edge technology and more than 70 industry-leading pathologists,
CDx consistently provides the highest level of quality and service, and has
earned the trust of medical practitioners in the U.S., growing revenue by a 40%
CAGR over the past six years.
Miraca supplies diagnostic products to over 100 countries worldwide through its
subsidiary Fujirebio Inc., and provides comprehensive support for laboratory
testing with advanced technologies and an extensive nationwide network in Japan
through its subsidiary SRL, Inc. As part of Miraca's strategy to expand its
business globally, the acquisition of CDx will substantially expand Miraca's
footprint in the U.S. laboratory testing market, which is larger and faster
growing as compared to Japan. Miraca will leverage this platform to further
expand its presence in the U.S. through both internal and external
opportunities.
Dr. Hiromasa Suzuki, President and CEO of Miraca, said, 'David and his team
have successfully built a company with a strong commitment to service and
quality and a focus on providing the best patient care possible. We, at Miraca,
believe in the same vision and are excited to pursue it together with our new
colleagues at CDx.'
Since 2005, Caris Life Sciences has been committed to creating a unique,
academic-caliber pathology practice and improving patient care through better
diagnostics. The company also provides Caris Target Now, an evidence-based
molecular profiling service that matches molecular data generated from a
patient's tumor with biomarker/drug associations derived from clinical
literature. The result is a report that lists which therapeutic options are
more likely to elicit a response, as well as those that are likely to be
ineffective. In addition, Caris is currently developing a series of blood tests
utilizing the patented Carisome(tm) platform -- a proprietary, blood-based testing
technology for diagnosis, prognosis, and theranosis of cancer and other complex
diseases.
'I am pleased to have found such a likeminded partner to acquire the pathology
services business. Miraca shares our vision for changing healthcare globally
through better diagnostics and has demonstrated a dedication to high quality,
which is a passion at Caris,' said David D. Halbert, Caris' Chairman and CEO.
'This agreement also serves as a springboard for potential partnership
opportunities related to the Caris Target Now and Carisome platforms in the
important Japanese market. I look forward to seeing the growth of the pathology
business under Miraca's leadership, as well as the growth and success we will
experience in molecular diagnostics, prognostics and theranostics, as a direct
result of this transaction.'
The closing of Miraca's acquisition is subject to completing a spin-off of CLS'
Caris Target Now and Carisome businesses into a single entity under the Caris
Life Sciences name, as well as the satisfaction of customary closing
conditions.
About Miraca Holdings
With group net sales of JPY165.7 billion (FYE 3/2010), Miraca Holdings, a
Japan-based holding company in the healthcare sector, is engaged in the
business consisting of three segments: (i) development, manufacture, and
commercialization of in vitro diagnostics, (ii) clinical laboratory testing,
and (iii) other healthcare related businesses, which are conducted by its
subsidiaries and affiliates including Fujirebio Inc., a leading supplier of in
vitro diagnostics in Japan, and SRL, Inc. ('SRL'), Japan's largest commercial
laboratory. SRL offers comprehensive clinical laboratory testing services to
medical institutes throughout the nation, ranging from general testing to
esoteric testing, including gene-based tests.
About Caris Life Sciences
Caris Life Sciences, a leading biosciences company, specializes in the
development and commercialization of the highest quality anatomic pathology,
molecular profiling and blood-based diagnostic technologies, in the fields of
oncology, dermatopathology, hematopathology, gastrointestinal pathology and
urologic pathology. The company provides academic-caliber consultations for
thousands of patients a day, through its industry-leading team of expert,
subspecialty pathologists. Caris also offers advanced molecular analyses of
patient samples through prognostic testing services and genomic,
transcriptomic, and proteomic profiling to assist physicians in their treatment
of cancer. Currently, Caris is developing a series of blood tests utilizing the
patented Carisome(tm) platform -- a proprietary, blood-based testing technology for
diagnosis, prognosis, and theranosis of cancer and other complex diseases. The
company is headquartered in the Dallas metroplex, and operates laboratories at
the headquarters, as well as in the Phoenix and Boston metro areas.
CONTACT: Media Inquiries:
Miraca Holdings Inc.
Hiroaki Kimura
General Manager
IR Public Relations Department
20F, STEC Bldg.,1-24-1 Nishishinjuku,
Shinjuku-ku, Tokyo 160-0023, Japan
Tel: +81-3-5909-3335
hk-kimura@fujirebio.co.jp
Caris Life Sciences
Holly R. Clark
VP, Corporate Marketing & Communications
6655 North MacArthur Blvd.
Irving, TX 75039
214-596-7060
hclark@carisls.com
News Source: NASDAQ OMX
06.10.2011 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: Caris Life Sciences
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US9901136724
WKN:
End of Announcement DGAP News-Service
---------------------------------------------------------------------------
Caris Life Sciences
06.10.2011 08:27
---------------------------------------------------------------------------
TOKYO and Irving, Texas, 2011-10-06 08:27 CEST (GLOBE NEWSWIRE) --
Miraca Holdings Inc. ('Miraca'), Japan's largest clinical diagnostics and
laboratory testing service provider, and Caris Life Sciences, Inc. ('CLS'), a
privately-held company headquartered in Texas and specializing in the
development and commercialization of the highest quality anatomic pathology,
molecular profiling, and blood-based diagnostic technologies, today announced
that the two companies have reached a definitive agreement under which Miraca
will acquire the anatomic pathology business operated by Caris Diagnostics,
Inc. ('CDx,' a 100% subsidiary of CLS) and its subsidiaries and affiliates. The
total purchase price shall be $725 million, including the repayment of the
existing debt, subject to customary post-closing price adjustments. The
transaction does not include CLS' Caris Target Now(tm) molecular profiling service
or Carisome(tm) circulating microvesicle technology, currently under development.
CDx is a leading pathology company specializing in gastrointestinal pathology,
dermatopathology, hematopathology and urologic pathology services. Providing
nationwide laboratory testing services out of three state-of-the-art
laboratories in Irving, Texas, Newton, Massachusetts, and Phoenix, Arizona, CDx
provides diagnosis and prognosis services for more than 3,500 patients daily.
With cutting-edge technology and more than 70 industry-leading pathologists,
CDx consistently provides the highest level of quality and service, and has
earned the trust of medical practitioners in the U.S., growing revenue by a 40%
CAGR over the past six years.
Miraca supplies diagnostic products to over 100 countries worldwide through its
subsidiary Fujirebio Inc., and provides comprehensive support for laboratory
testing with advanced technologies and an extensive nationwide network in Japan
through its subsidiary SRL, Inc. As part of Miraca's strategy to expand its
business globally, the acquisition of CDx will substantially expand Miraca's
footprint in the U.S. laboratory testing market, which is larger and faster
growing as compared to Japan. Miraca will leverage this platform to further
expand its presence in the U.S. through both internal and external
opportunities.
Dr. Hiromasa Suzuki, President and CEO of Miraca, said, 'David and his team
have successfully built a company with a strong commitment to service and
quality and a focus on providing the best patient care possible. We, at Miraca,
believe in the same vision and are excited to pursue it together with our new
colleagues at CDx.'
Since 2005, Caris Life Sciences has been committed to creating a unique,
academic-caliber pathology practice and improving patient care through better
diagnostics. The company also provides Caris Target Now, an evidence-based
molecular profiling service that matches molecular data generated from a
patient's tumor with biomarker/drug associations derived from clinical
literature. The result is a report that lists which therapeutic options are
more likely to elicit a response, as well as those that are likely to be
ineffective. In addition, Caris is currently developing a series of blood tests
utilizing the patented Carisome(tm) platform -- a proprietary, blood-based testing
technology for diagnosis, prognosis, and theranosis of cancer and other complex
diseases.
'I am pleased to have found such a likeminded partner to acquire the pathology
services business. Miraca shares our vision for changing healthcare globally
through better diagnostics and has demonstrated a dedication to high quality,
which is a passion at Caris,' said David D. Halbert, Caris' Chairman and CEO.
'This agreement also serves as a springboard for potential partnership
opportunities related to the Caris Target Now and Carisome platforms in the
important Japanese market. I look forward to seeing the growth of the pathology
business under Miraca's leadership, as well as the growth and success we will
experience in molecular diagnostics, prognostics and theranostics, as a direct
result of this transaction.'
The closing of Miraca's acquisition is subject to completing a spin-off of CLS'
Caris Target Now and Carisome businesses into a single entity under the Caris
Life Sciences name, as well as the satisfaction of customary closing
conditions.
About Miraca Holdings
With group net sales of JPY165.7 billion (FYE 3/2010), Miraca Holdings, a
Japan-based holding company in the healthcare sector, is engaged in the
business consisting of three segments: (i) development, manufacture, and
commercialization of in vitro diagnostics, (ii) clinical laboratory testing,
and (iii) other healthcare related businesses, which are conducted by its
subsidiaries and affiliates including Fujirebio Inc., a leading supplier of in
vitro diagnostics in Japan, and SRL, Inc. ('SRL'), Japan's largest commercial
laboratory. SRL offers comprehensive clinical laboratory testing services to
medical institutes throughout the nation, ranging from general testing to
esoteric testing, including gene-based tests.
About Caris Life Sciences
Caris Life Sciences, a leading biosciences company, specializes in the
development and commercialization of the highest quality anatomic pathology,
molecular profiling and blood-based diagnostic technologies, in the fields of
oncology, dermatopathology, hematopathology, gastrointestinal pathology and
urologic pathology. The company provides academic-caliber consultations for
thousands of patients a day, through its industry-leading team of expert,
subspecialty pathologists. Caris also offers advanced molecular analyses of
patient samples through prognostic testing services and genomic,
transcriptomic, and proteomic profiling to assist physicians in their treatment
of cancer. Currently, Caris is developing a series of blood tests utilizing the
patented Carisome(tm) platform -- a proprietary, blood-based testing technology for
diagnosis, prognosis, and theranosis of cancer and other complex diseases. The
company is headquartered in the Dallas metroplex, and operates laboratories at
the headquarters, as well as in the Phoenix and Boston metro areas.
CONTACT: Media Inquiries:
Miraca Holdings Inc.
Hiroaki Kimura
General Manager
IR Public Relations Department
20F, STEC Bldg.,1-24-1 Nishishinjuku,
Shinjuku-ku, Tokyo 160-0023, Japan
Tel: +81-3-5909-3335
hk-kimura@fujirebio.co.jp
Caris Life Sciences
Holly R. Clark
VP, Corporate Marketing & Communications
6655 North MacArthur Blvd.
Irving, TX 75039
214-596-7060
hclark@carisls.com
News Source: NASDAQ OMX
06.10.2011 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: Caris Life Sciences
United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US9901136724
WKN:
End of Announcement DGAP News-Service
---------------------------------------------------------------------------