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Mergers and Acquisitions

Date: 2011-05-24

Type of information: Company acquisition

Acquired company: Prometheus Laboratories (USA)

Acquiring company: Nestlé Health Sciences (Switzerland)

Amount: undisclosed

Terms:

The terms of the transaction, which is subject to regulatory approval, are not being disclosed.

Details:

Nestlé Health Science S.A. has agreed to acquire Prometheus Laboratories Inc., a San Diego-based company. Prometheus specialises in diagnostics and in-licensed specialty pharmaceuticals in gastroenterology and oncology, and has a dedicated team of highly qualified medical sales representatives. The company focuses on conditions such as inflammatory bowel diseases, including Crohn's disease and ulcerative colitis.
This acquisition is a strategic move into gastrointestinal diagnostics. It will be the basis to constitute a robust platform for Nestlé Health Science to accelerate its current and future healthcare business. Prometheus's strong expertise and R&D in gastrointestinal diagnostics will accelerate the research program that is being established in the newly-created Nestlé Institute of Health Sciences. It will create new opportunities for developing personalised nutrition strategies that will help in the management and prevention of chronic health conditions. The R&D pipeline will encompass other areas of strategic interest for Nestlé Health Science, such as metabolic conditions and brain health.
About 500 employees of Prometheus will join Nestlé Health Science as a result of the acquisition. In 2012 Prometheus's annualised sales are expected to be around USD 250 million.

Related:

Diagnostic
Oncology
Gastroenterology

Is general: Yes