Beckman Coulter Buying Lumigen

Chemiluminescent chemistry has its day.
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Beckman Coulter (BEC) agreed to acquire Lumigen of Southfield, Mich., for $185 million in cash.

Fullerton, Calif.-based Beckman said Lumigen is a developer and manufacturer of novel detection chemistries for high-sensitivity testing in clinical diagnostics and life-science research. The deal is expected to close in the next month. It should be neutral to earnings in 2006 and to boost 2007 earnings by 2 cents a share.

"Lumigen's proprietary chemiluminescent chemistry is the detection method used in our Access family of immunoassay systems," said Richard Creager, vice president of research and development for Beckman Coulter's immunoassay business. "Now, with Lumigen as part of the Beckman Coulter family, we are assured access to all of their current and future technology for immunochemical and other high-sensitivity testing."

About 40% of Lumigen's 2005 revenues of $33 million were from sales of chemiluminescent substrate to Beckman Coulter for use in its immunoassay analyzers. Going forward, these related-party revenues will be eliminated in the consolidation. Lumigen also manufactures and licenses proprietary chemicals used by other clinical diagnostics and life-sciences manufacturers.