With TekCel Acquisition, Magellan Biosciences Adds Automated Sample-Management To Advanced-Technology Portfolio For Life Science Customers

Magellan Biosciences, a leading provider of advanced instruments, automated systems, point-of-care products, and consumables for biomedical research and clinical diagnostics worldwide, announced today that it has acquired Hopkinton, Massachusetts-based TekCel. A leading innovator of sample-management and assay-automation systems for biomedical research, TekCel employs approximately 35 people, all of whom are expected to remain with the company. Terms of the transaction were not disclosed.

"With the acquisition of TekCel, Magellan is now of sufficient scale to take advantage of opportunities that are beyond the reach of smaller enterprises," said Robert J. Rosenthal, president and chief executive officer of Magellan. "Our goal is to deliver consistent profitable growth through our own internal product development and selective acquisitions. Now, with revenues of nearly $50 million, we can afford to invest in the advanced systems and infrastructure necessary to build a world-class company, and we can attract and retain the best people. All this will help us serve our customers even better.

"Meeting and exceeding customer needs today and tomorrow is our first priority. ESA, Dynex, and TekCel each count the world's premier pharmaceutical, biotech, and clinical institutions as customers, typically serving different labs and personnel. However, an important common denominator is the relationship each has developed with these clients. Our customers tell us that they choose us because they know they will be successful – whether they are working to understand the biological underpinnings of health, developing a new drug, or diagnosing disease. The name of each Magellan company has become synonymous with the highest-quality products and services as well as superior technical and applications expertise. We are very proud of our reputation, and are committed to earning it every day.

Dr. Rosenthal continued, "We look forward to pursuing new opportunities that arise from synergies among our subsidiaries. Our scientists and engineers from across the company can now work together to share expertise, ideas, and technology platforms, opening up new frontiers for customers, and driving growth for Magellan. For example, TekCel's automation expertise will be useful to Dynex as it continues development of its next-generation automated microplate-based immunoassay workstations. TekCel will benefit from ESA and Dynex's experience as TekCel explores how its secure sample-storage products may be used in the clinical market, particularly at labs conducting clinical trials."