OraSure Technologies, Inc. completed the acquisition of Diversigen, Inc. from BCM Technologies and others.
November 07, 2019
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OraSure Technologies, Inc. (NasdaqGS:OSUR) entered into a definitive agreement to acquire Diversigen, Inc. from BCM Technologies and others for $12 million on November 6, 2019. Under the terms of the transaction, considerations comprises of an upfront cash payment of $12 million and the potential for an additional earn-out payment tied to revenue performance during 2019. The transaction is expected to close in the next several days. William D. Davis II, Daniel Prati and Todd Schroeder of Norton Rose Fulbright US LLP acted as legal advisors to BCM Technologies. Reitler Kailas & Rosenblatt LLC acted as legal advisor to OraSure Technologies, Inc. Raymond James & Associates, inc. acted as financial advisor to OraSure Technologies, Inc.
OraSure Technologies, Inc. (NasdaqGS:OSUR) completed the acquisition of Diversigen, Inc. from BCM Technologies and others on November 8, 2019. The initial aggregate purchase price for the transaction was $12 million, adjusted for certain transaction costs, indebtedness, and holdback amounts, and was funded with cash on hand. A portion of the purchase price was deposited into an escrow account for a limited period after closing, pursuant to indemnification obligations under the merger agreement noted above. The merger agreement also includes a contingent payment to be paid based on Diversigen’s performance during the 2019 calendar year.
OraSure Technologies, Inc. provides point-of-care and home diagnostic tests, sample management solutions, and microbiome laboratory and analytical services. The Company's product portfolio is divided into diagnostics products and sample management solutions. Its business consists of the development, manufacture, marketing and sale of diagnostic products and specimen collection devices using its technologies, as well as other diagnostic products including immunoassays and other in vitro diagnostic tests that are used on other specimen types. Its diagnostic products include tests for diseases including COVID-19, HIV and Hepatitis C that are performed on a rapid basis at the point of care, and tests for drugs of abuse that are processed in a laboratory. Its business also includes molecular sample management solutions and services that are used by clinical laboratories, direct-to-consumer laboratories, researchers, pharmaceutical companies, and animal health service and product providers.
ORASURE TECHNOLOGIES, INC. 
