Danaher to acquire Integrated DNA Technologies - Summit ...

Founded in 1987 by Joseph Walder, MD, PhD, IDT has grown to become a leader in its served markets with more than 1,200 employees and over ... Growth&Venture Companies Technology Healthcare&LifeSciences GrowthProducts&Services A-ZListofInvestments HowWeHelp Team ViewbyLocation/Role A-ZListofTeamMembers About News Credit About Approach Team PublicEquity About Approach Team Life@Summit Inspiration,ideasandinsightsforgrowthcompanies: ViewResourceCenter> AllNews News March09,2018 DanahertoacquireIntegratedDNATechnologies CompanyProfiles: IntegratedDNATechnologies TeamMembers: CraigD.Frances,M.D. Tweet Washington,D.C.-DanaherCorporation(NYSE:DHR)(the“Company”)andIntegratedDNATechnologies(“IDT”)announcedtodaythatDanaherhasenteredintoadefinitiveagreementtoacquireIDT,aprivately-heldproviderofhigh-valueconsumablesforgenomicsapplicationsinmolecularbiology,qPCR,nextgenerationsequencing,syntheticbiology,geneeditingandmoleculardiagnostics. IDT’sprimarybusinessisthemanufacturingofhigh-quality,customDNAandRNAoligonucleotidesservingcustomersintheacademicandbiopharmaceuticalresearch,biotechnology,agriculture,clinicaldiagnostics,andpharmaceuticaldevelopmentendmarkets.Foundedin1987byJosephWalder,MD,PhD,IDThasgrowntobecomealeaderinitsservedmarketswithmorethan1,200employeesandover100,000customersworldwide.IDTwilloperateasastandaloneoperatingcompanyandbrandwithinDanaher’sLifeSciencesplatform. RainerBlair,ExecutiveVicePresidentofDanaher’sLifeSciencesplatform,said,"WearethrilledtohaveIDTjoinDanaher'sLifeSciencesplatform.IDTexpandsourpresenceintothehighlyattractivegenomicsmarketandwillhelpplayacentralroleinacceleratingourcustomers’researchandtimetomarketastheydevelopcriticaldiagnostictestsandpotentiallife-savingtherapies.IDT’shistoricaldouble-digitcorerevenuegrowthandstrongmarginsareatestamenttotheteam’scommitmenttothehigheststandardsofquality,service,andtechnicalexpertise.” ThomasP.Joyce,Jr.,DanaherPresidentandChiefExecutiveOfficer,stated,“Danaherisaprovenstewardoffounder-ledbusinesses,suchasHachandPhenomenex.WerecognizetheextraordinarycontributionsDr.WalderandIDThavemadetotheadvancementofgenomicsresearchandapplicationsoverthepast30years.WelookforwardtosupportingtheIDTteamandhelpingthemleveragethetoolsoftheDanaherBusinessSystem(DBS)tofurtherenhancetheirgrowthprofileandcontinuetocreatelong-termcustomervalue.” “Formorethan30years,IDT'sinnovativetoolsandsolutionsforgenomicsapplicationshavehelpedscientistsadvancetheirresearchandcontributetosolvingsomeoftheworld’smostvexingdiseasesandotherchallengesaddressedbythelifesciencescommunity,”saidJosephWalder,CEOandChairmanofIDT.“JoiningDanaherwillallowustoacceleratethehighpaceofinnovationandsuperiorserviceourcustomershavecometoexpectfromus,aswellashelpexpandourglobalreach.I’mexcitedtowatchIDTfurthergrowandinnovateinthisexpandingareaofgenomicswiththehelpofDBS.” Thetransaction,whichisexpectedtoclosemid-year2018,issubjecttocustomaryclosingconditionsandregulatoryapprovals. AboutDanaher Danaherisaglobalscienceandtechnologyinnovatorcommittedtohelpingitscustomerssolvecomplexchallengesandimprovingqualityoflifearoundtheworld.Itsfamilyofworldclassbrandshasleadershippositionsinsomeofthemostdemandingandattractiveindustries,includinghealthcare,environmentalandindustrial.Withmorethan20operatingcompanies,Danaher'sgloballydiverseteamofapproximately67,000associatesisunitedbyacommoncultureandoperatingsystem,theDanaherBusinessSystem.Formoreinformation,pleasevisitwww.danaher.com. AboutIDT IntegratedDNATechnologies,Inc.(IDT)develops,manufactures,andmarketsnucleicacidproductsforthelifesciencesindustryintheareasofacademicresearch,biotechnology,agriculture,medicaldiagnostics,andpharmaceuticaldevelopment.Thecompany'sprimarybusinessistheproductionofcustomoligonucleotidesformolecularbiologyapplications.IDThasdevelopedproprietarytechnologiesforgenomicsapplicationssuchasnextgenerationsequencing,CRISPRgenomeediting,qPCR,andRNAinterference.ThroughitsGMPservices,IDTmanufacturesproductsusedindiagnostictestsformanyformsofcancerandmostinheritedandinfectiousdiseases.Servingover100,000lifesciencesresearchersandproducingover65,000nucleicacidsdaily,IDTiswidelyrecognizedastheindustryleaderincustomnucleicacidmanufacture.Thecompanyservesitscustomersthroughdirectsalesinmanycountriesandanetworkofinternationaldistributors.IDT’scorporateheadquartersisinSkokie,Illinois,USA.ItsmanufacturingheadquartersisinCoralville,Iowa,USA,withadditionalmanufacturingfacilitiesinSanDiego,California,USA;Leuven,Belgium;andSingapore. Source:IDT CompanyProfiles: IntegratedDNATechnologies TeamMembers: CraigD.Frances,M.D.