TekCel becomes the third Magellan division and its latest acquisition comes hot on the heels of October's acquisition of life sciences company Dynex Technologies, confirming its interest in the life science, research and clinical diagnostics market.
Although terms of the transaction were not disclosed, the company commented that the purchase would create a combined company with revenues of nearly $50 million (€40 million).
"TekCel's automation expertise will be useful as it continues development of its automated microplate-based immunoassay workstations. TekCel will benefit from Dynex's experience as TekCel explores how its secure sample-storage products may be used in the clinical market, particularly at labs conducting clinical trials," said Robert Rosenthal, president and chief executive officer of Magellan.
Magellan Biosciences, which is privately owned, also includes ESA, which employs about 90 people. Dynex has 40 employees. All are expected to remain with the company
ESA provides innovative analytical instruments and kits that are used in drug discovery, biomedical research, and clinical diagnostics.