Clinical Data Sells Division to Beckman Coulter

Clinical Data and Beckman Coulter have signed an agreement for the latter to acquire the former’s Cogenics division for approximately US$17.0 million.

The sale will complete a key element of the former’s strategic initiative to monetize non-core assets and focus resources on advancing the company’s two late-stage targeted therapeutic programs.

Under terms of the agreement, the former will receive approximately US$15.4 million at the closing. In addition, it expects to retain approximately US$2.0 million in cash from Cogenics immediately prior to the sale. In exchange, Beckman Coulter will acquire all of the division’s operations in the US, UK, Germany and France.