Gen-Probe (GPRO) announced that it has completed its acquisition of Prodesse, Inc., a leader in molecular testing for influenza and other infectious diseases, for approximately $60 million in cash.
Gen-Probe's purchase price could increase to up to $85 million if Prodesse achieves certain financial and regulatory milestones in 2010 and 2011.
Excluding the charges, Gen-Probe expects the acquisition to add approximately $0.05 to the Company's 2010 earnings per share, based on about $15 million in total revenues. Gen-Probe expects to update its 2009 financial guidance to include the effects of the acquisition in its third quarter earnings release on October 29.
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