Clinical Laboratory Company Quest Diagnostics Agrees to Acquire Celera Corp. for $657 Million

Celera is not a medical laboratory, but develops biomarkers and molecular diagnostics tests For the second time since the New Year, Quest Diagnostics Incorporated (NYSE:DGX) has announced an acquisition. Last Friday, Quest Diagnostics said it had agreed to purchase Celera Corp. (NASDAQ:CRA) for a purchase price that Reuters reported to be $657 million. What makes this acquisition different from those typically done by Quest Diagnostics and its major competitor, Laboratory Corporation of...

FISH-Based Test to Diagnose Melanoma is Goal of Neogenomics

Deal with Abbott Labs gives Neogenomics access to proprietary probes Diagnostic testing for melanoma generates a substantial number of tests annually, making it a lucrative target for any clinical laboratory or biotech company that can develop an assay that utilizes state-of-the-art molecular technologies and offers improved detection and accuracy. Once company working to develop such a new diagnostic test for melanoma is Neogenomics, Inc. (OTC:NGNM.OB).  It announced an agreement with Abbott...

General Electric and Abbott Laboratories Cancel Their $8.13 Billion Deal

After the markets closed yesterday, General Electric (NYSE: GE) and Abbott Laboratories (NYSE: ABT) released announcements that the two companies had terminated the pending sale of Abbott’s two diagnostic business units to General Electric. Abbott’s press release made the announcement in two sentences: “Abbott and GE have mutually agreed to terminate their contract for the sale of Abbott’s core laboratory and point-of-care diagnostics businesses to GE. The two companies were unable to agree on...
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