Roche and GenMark Diagnostics have entered into a definitive merger agreement for Roche to fully acquire GenMark for approximately $1.8 billion, or $24.05 per share, in an all-cash transaction, according to a news release from Roche.
Roche said that GenMark’s syndromic panel testing portfolio will complement Roche’s current molecular diagnostics portfolio. In addition, Roche’s global network will enable expanded reach for GenMark’s products, Roche said. 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 merger agreement has been unanimously approved by the boards of directors of GenMark and Roche. Once the acquisition is completed, GenMark’s main operations will continue at its current location in Carlsbad, CA.
The transaction is expected to close in the 2nd quarter of 2021.
