March 15, 2021 – Roche (Basel, Switzerland) and GenMark Diagnostics (Carlsbad, CA) announced that they have entered into a definitive merger agreement for Roche to fully acquire GenMark in an all-cash transaction valued at approximately $1.8 billion on a fully diluted basis.
The merger agreement has been unanimously approved by the boards of directors of GenMark and Roche. Once the acquisition is completed, GenMark’s principal operations will continue at its current location in Carlsbad, California.
Under the terms of the merger agreement, Roche will commence a tender offer to acquire all outstanding shares of GenMark’s common stock, and GenMark will file a recommendation statement containing the unanimous recommendation of the GenMark board that GenMark stockholders tender their shares to Roche.
Roche says that GenMark’s syndromic panel testing portfolio will complement Roche’s current molecular diagnostics portfolio and the Roche global network will enable expanded reach for GenMark’s products.
GenMark’s ePlex system drives lab efficiency through streamlined order-to-reporting workflow and enables better patient outcomes by rapidly diagnosing a patient’s symptoms, the company says.
GenMark’s Respiratory Pathogen Panels identify the most common viral and bacterial organisms associated with upper respiratory infection, including SARS-CoV-2, complementing Roche’s extensive portfolio of COVID-19 diagnostics solutions.
The transaction is expected to close in the 2nd quarter of 2021 and is subject to customary closing conditions.