OraSure Technologies Inc. plans to acquire Minnesota-based CoreBiome Inc., an early-stage microbiome services provider, and Belgium-based Novosanis NV, a medical device producer.
The Bethlehem, Pa.-based healthcare supplier, which provides point-of-care diagnostic tests and specimen collection and stabilization devices, said in its Jan. 4 news release that the acquisitions of the two privately held companies are expected to close within the next week.
Stephen Tang, president and CEO of OraSure, said the acquisitions of Novosanis and CoreBiome add differentiated products and services that will enhance the company's molecular business, longer-term corporate growth profile and returns for stockholders.
Tang also said the acquisitions will leverage the sales and marketing resources of its Canada-based unit DNA Genotek Inc. to cultivate commercial customers, key opinion leaders and academic collaborators.
CoreBiome's acquisition will provide OraSure access to its technology, which provides a characterization of microbial diversity and function, paired with machine learning and expert analytics. The acquisition allows OraSure to become an end-to-end solution provider for researchers, therapeutic and diagnostic development customers, and direct-to-consumer companies.
Novosanis, which was founded as a spinoff company from the University of Antwerp, is an early commercial-stage producer and distributor of urine sample collection devices targeted primarily at the liquid biopsy, sexually transmitted infection screening and urological cancer markets.
OraSure said the Novosanis' acquisition allows access to its urine collection technology, which expands molecular collection portfolio and advances OraSure's expertise in noninvasive sampling. Novosanis' primary product technology is Colli-Pee, an easy-to-use urine collection device.
Both acquisitions are structured with an up-front payment and potential additional payments based on future performance. OraSure expects the acquisitions will together contribute from $4 million to $7 million in net revenues in 2019.