Abbott completes acquisition of Starlims Technologies
23 Mar 2010
Abbott yesterday announced completed its $123-million acquisition of Israel-based provider of laboratory information management systems, Starlims Technologies Ltd, first announced in December 2009.
As per the terms of the deal Abbott paid $14 per share for all outstanding equity of Starlims for $14 per share, for a total purchase price of approximately $123 million (See: Abbott to acquire Starlims Technologies for $123 million)
Nasdaq-listed Starlims is a provider of laboratory information management systems (LIMS), with approximately 160 employees worldwide and has clients in over 500 organisations in 40 countries.
Through this acquisition, Abbott, a broad-based health care company devoted to the discovery, development, manufacture and marketing of pharmaceuticals and medical products,hopes to expand in the laboratory market segments.
It also strengthens Abbott's competitive position in the global diagnostics market, providing advanced web-based applications to help laboratories efficiently store, retrieve and analyze a significantly increasing volume of clinical, managerial and administrative data.
The acquisition provides Abbott with leading products and expertise to build its position in laboratory informatics, an emerging and rapidly growing field focused on helping to manage the increasing amount of data generated in laboratories.
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