Siemens Healthineers has agreed a deal to acquire the Luxembourg-based company Fast Track Diagnostics, a global supplier of molecular diagnostic tests.
The deal will see the company take control of Fast Track Diagnostics' sites in Luxembourg, Malta and India, as well as its workforce of around 80 employees. Fast Track Diagnostics will continue to operate under its current brand name following the completion of the deal, which is expected before the end of the year.
“Siemens Healthineers has announced the acquisition of Fast Track Diagnostics, a Luxembourg-based supplier of molecular diagnostic tests.“
Fast Track Diagnostics' tests target conditions such as respiratory infections, gastroenteritis, meningitis, hepatitis, immunosuppression-related infections, tropical diseases, STDs and early childhood illnesses, plus more than 140 viruses, bacteria, parasites and fungi.
By adding the firm's range of molecular diagnostic tests to its portfolio, Siemens Healthineers will be able to offer its customers a wider range of solutions in a designated growth area for the business.
Over the past 24 months, Siemens Healthineers has made significant advancements in the molecular diagnostics field, including the acquisition of NEO New Oncology last year.
Fernando Beils, head of molecular diagnostics at Siemens Healthineers, said: "By integrating the high-quality and cost-effective solutions of Fast Track Diagnostics into our own cutting-edge molecular diagnostics portfolio, Siemens Healthineers continues to strengthen and expand its presence in the field of molecular testing and precision medicine."
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