Celera Completes Acquisition of Berkeley HeartLab, Inc.ALAMEDA, Calif.--(BUSINESS WIRE)--Oct 15, 2007 - Celera (NYSE:CRA), an Applera Corporation business, today announced it has completed the acquisition of Berkeley HeartLab, Inc. (BHL), for approximately $195 million in cash. BHL is a cardiovascular healthcare company with a broad portfolio of CLIA certified tests and disease management services focused on the secondary prevention market. BHL has approximately 300 employees including 110 laboratory personnel and about 80 field-based sales representatives and clinical educators, and will be operated as a business unit of Celera.
"We're pleased to welcome Berkeley HeartLab's employees to the Celera family," said Kathy Ordonez, president of Celera. "We're excited by the opportunities for sales growth from the existing product portfolio, as well as the development of potential new products around our emerging new molecular diagnostic tests that predict risk and individualize treatment in cardiovascular disease."
Celera currently anticipates that this acquisition will be accretive to earnings in the second half of fiscal 2008, excluding the impact of acquisition-related intangible amortization and transaction and integration expenses. The anticipated accretion will be included in Celera's outlook for fiscal 2008 when the business presents its first quarter fiscal 2008 earnings results.
BHL provides physicians and patients with a comprehensive personalized cardiovascular risk management program encompassing nutrition, exercise, medication compliance, and stress reduction in concert with advanced lipid and other cardiovascular and metabolic testing services. In calendar 2006, BHL received referrals from over 4,100 physicians, processed samples from over 150,000 patients, and performed over 1.6 million tests. For more information about BHL's products and services, visit www.bhlinc.com.
Founded in 1995, BHL's headquarters are located in Burlingame, CA. The company operates a 40,000 square foot CLIA-certified testing laboratory located in Alameda, CA, and has 8 regional disease management centers which anchor the expanding 4MyHeart cardiovascular disease management program.
About Applera Corporation and Celera
Applera Corporation consists of two operating groups. Celera is primarily a molecular diagnostics business that is using proprietary genomics and proteomics discovery platforms to identify and validate novel diagnostic markers, and is developing diagnostic products based on these markers as well as other known markers. Celera maintains a strategic alliance with Abbott for the development and commercialization of molecular, or nucleic acid-based, diagnostic products, and it is also developing new diagnostic products outside of this alliance. Through its genomics and proteomics research efforts, Celera is also discovering and validating therapeutic targets, and it is seeking strategic partnerships to develop therapeutic products based on these discovered targets. The Applied Biosystems Group serves the life science industry and research community by developing and marketing instrument-based systems, consumables, software, and services. Customers use these tools to analyze nucleic acids (DNA and RNA), small molecules, and proteins to make scientific discoveries and develop new pharmaceuticals. Applied Biosystems' products also serve the needs of some markets outside of life science research, which we refer to as "applied markets," such as the fields of: human identity testing (forensic and paternity testing); biosecurity, which refers to products needed in response to the threat of biological terrorism and other malicious, accidental, and natural biological dangers; and quality and safety testing, such as testing required for food and pharmaceutical manufacturing. Applied Biosystems is headquartered in Foster City, CA, and reported sales of nearly $2.1 billion during fiscal 2007. Information about Applera Corporation, including reports and other information filed by the company with the Securities and Exchange Commission, is available at http://www.applera.com, or by telephoning 800.762.6923. Information about Celera is available at http://www.celera.com.
Certain statements in this press release are forward-looking. These may be identified by the use of forward-looking words or phrases such as "believe," "expect," "should," "anticipate," and "intend," among others. These forward-looking statements are based on Applera Corporation's current expectations. The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for such forward-looking statements. In order to comply with the terms of the safe harbor, Applera Corporation notes that a variety of factors could cause actual results and experience to differ materially from the anticipated results or other expectations expressed in such forward-looking statements. These risks and uncertainties include but are not limited to: (1) risks associated with integrating BHL's products, people, and systems into Celera's; (2) failure to achieve revenue and cost synergies anticipated to result from the acquisition; (3) Celera is using novel and unproven methods to discover markers for the development of new diagnostic products, which may not be successful; (4) the diagnostic industry is very competitive, and new diagnostic products may not be accepted and adopted by the market; (5) demand for diagnostic products may be adversely affected if users of these products cannot receive adequate reimbursement for these products from third party payors such as private insurance companies and government insurance plans; and (6) other factors that might be described from time to time in Applera Corporation's filings with the Securities and Exchange Commission. All information in this press release is as of the date of the release, and Applera does not undertake any duty to update this information, including any forward-looking statements, unless required by law.
Copyright 2007 Applera Corporation. All Rights Reserved. Celera is a registered trademark and Applied Biosystems and Applera are trademarks of Applera Corporation or its subsidiaries in the U.S. and/or certain other countries.
David Speechly, Ph.D.
Posted: October 2007
Recommended for you