United States
Varian, Inc. Acquires Product Line for Drugs of Abuse Testing from Roche Diagnostics Corporation
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PALO ALTO, Calif., Feb 3, 2003
Varian, Inc. (Nasdaq:VARI) today announced that it has acquired the non-clinical drugs of abuse testing (DAT) business of Roche Diagnostics Corporation for approximately $22 million in cash. The DAT business specializes in on-site, single-use, products for rapidly detecting drugs of abuse in human bodily fluids. Primary applications for the DAT products are in the workplace setting for pre-employment screening and "fitness for duty" tests, and in the criminal justice arena for compliance monitoring programs. Roche is a leader in the non-clinical DAT product sales. It is retaining one strip-based DAT product, the TesTcard(TM) 9, sold to clinical laboratories, as well as its line of reagents designed for rapid instrument-based drug testing. Varian, Inc., through its 2002 acquisition of ANSYS Technologies, Inc., has been the contract manufacturer of the two primary Roche DAT product lines, the OnTrak(TM) TesTcup(TM) and OnTrak TesTstik(TM), and the companies also collaborated on product design and development since the inception of the product line in the early 1990's. "The Roche DAT acquisition furthers Varian, Inc.'s strategic goal of expanding our line of consumable products," says Garry W. Rogerson, President and Chief Operating Officer. "Varian, Inc. has been a leader in both instrumentation and consumables for drugs of abuse confirmatory testing, and this acquisition enhances our ability to serve customers worldwide with a more complete solution to their drug testing needs. This purchase positions Varian, Inc. as an industry leader in providing both rapid screening and equipment and consumables for confirmatory tests to the large drug testing laboratories." Organizationally, Varian, Inc. will manage the business within the consumables portion of its Scientific Instruments segment, with the DAT business retaining its own separate sales, marketing, and R&D functions. "We are committed to a seamless transition for our DAT customers," said Rogerson. "They should experience little, if any, change in the products or in the people that they are used to working with, since Varian, Inc. (through ANSYS Technologies, Inc.) has been involved in the product line since its beginnings." About Varian, Inc. Varian, Inc. (Nasdaq:VARI) is a major supplier of scientific instruments, vacuum technologies, and specialized contract electronics manufacturing services. These businesses serve a broad range of life science and industrial customers worldwide. The company manufactures in 15 locations in North America, Europe, and the Pacific Rim and employs some 4,300 people. Varian, Inc. had fiscal year 2002 sales of $780 million. Additional information about Varian, Inc. is available at varianinc.com. About Roche Diagnostics Corporation Headquartered in Basel, Switzerland, Roche is one of the world's leading research-oriented healthcare groups in the fields of pharmaceuticals, diagnostics and vitamins. Roche's products and services address prevention, diagnosis and treatment of diseases, thus enhancing well-being and quality of life. Roche's Diagnostic Division, the world leader in in-vitro diagnostics with a uniquely broad product portfolio, supplies a wide array of innovative testing products and services to researchers, physicians, patients, hospitals and laboratories worldwide. Roche Diagnostics Corporation, based in Indianapolis, is the North American headquarters for the diagnostics business of the company. Roche Diagnostics' website is located at www.roche-diagnostics.com. # # # Contact: Varian, Inc. |