LONDON - The Swiss drug maker Roche Group said Monday that it has agreed to pay $450 million to acquire IQuum, the Massachusetts medical testing equipment maker
The deal is expected to expand Roche’s offerings in its molecular diagnostic testing business.
Under the deal, Roche will pay $275 million upfront for privately held IQuum and up to an additional $175 million based on the company reaching certain product milestones.
“Patients will benefit from on-the-spot and accurate diagnoses, which will allow healthcare professionals to make rapid, informed treatment decisions in flexible settings,â€Â said Roland Diggelmann, the chief operating officer of the Roche Diagnostics unit, in a statement.
In 2013, Roche posted sales of 46.8 billion Swiss francs, or about $52.6 billion, and employed more than 85,000 worldwide.
