Beckman Coulter, Inc. (NYSE: BEC), a leading developer, manufacturer, and marketer of products that simplify, automate, and innovate complex biomedical tests, and Biosite(R) Incorporated (Nasdaq: BSTE), a leading biomedical company commercializing proteomics discoveries for the advancement of medical diagnosis, has entered into a definitive merger agreement under which Beckman Coulter will acquire all of Biosite's outstanding common stock in a cash tender offer of $85.00 per share, or approximately $1.55 billion on a fully diluted share basis. The proposed transaction is expected to immediately accelerate Beckman Coulter's revenue growth, improve operating margins and be accretive to GAAP earnings in 2008 and beyond.

Scott Garrett, Beckman Coulter's President and Chief Executive Officer said, "This is an exciting transaction that grew out of our successful relationship with Biosite over the past four years in the area of B-type Natriuretic Peptide (BNP), a test that aids in the diagnosis, risk stratification and assessment of severity of heart failure and the risk stratification of patients with acute coronary syndromes. It will position Beckman Coulter as a leading provider of immunoassay tests, especially within cardiac diagnostics. Biosite utilizes third-party distributors, and more than 85% of sales come from within the United States. A major source of value in the transaction is our ability to leverage our global commercial infrastructure and installed base to expand sales of Biosite's immunoassay tests, including BNP. Longer term, we will have significant opportunities to leverage Biosite's pipeline of novel diagnostic tests across our large installed base of automated systems in hospital laboratories. Additionally, the transaction will expand our offerings into near-patient testing, providing additional markets for many of our highest-value tests."

Biosite's Chairman and Chief Executive Officer, Kim Blickenstaff stated, "We have enjoyed a close relationship with Beckman Coulter, and together we can enhance our delivery of high value diagnostic solutions that improve clinical and economic outcomes for acute diseases. Our focus is clearly aligned with Beckman Coulter's dedication to improving patient health and reducing the cost of care. Beckman Coulter's reputation and global infrastructure will be instrumental in expanding the market opportunity for our Triage(R) family of diagnostic products around the world. Our board of directors believes that this transaction is in the best interest of our shareholders, employees and other stakeholders and has unanimously voted to recommend that Biosite shareholders tender their shares in this offer."

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