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Siemens takes Fast Track Diagnostics for undisclosed amount

by Thomas Dworetzky, Contributing Reporter | December 19, 2017
Business Affairs
Siemens Healthineers has inked a deal to acquire Fast Track Diagnostics (FTD).

The Luxembourg-based based firm makes diagnostics tests that can tell the difference between viral, bacterial, or other infections in one test, according to Siemens.

The move is seen as a further investment in cutting-edge medicine by the Healthineers. The deal will boost the firm's VERSANT kPCR Molecular System by more than 80 assays and syndromic panels.

Integrating the FTD solutions with the existing Healthineers portfolio, will let the company “expand its presence in the field of molecular testing and precision medicine,” Fernando Beils, Head of Molecular Diagnostics for the Healthineers said in a statement.

The FTD tests allow for both singleplex and syndromic testing thanks to its real-time Polymerase Chain Reaction (PCR) kits, which are able to amplify nucleic acids (RNA and DNA) in laboratory samples, in order to make a diagnosis about an infection with just a tiny sample from the patient.

Testing is possible for such ailments as respiratory infections, gastroenteritis, meningitis, hepatitis, infections of the immunosuppressed, tropical diseases, sexually transmitted diseases, and early childhood diseases, as well as 140 different viruses, bacteria, parasites, and fungi.

“In addressing the evolving needs of our customers and the molecular testing market, we enable them to provide more efficient and more effective care for their patients,” explained Dr. David Stein, Head of Strategy & Innovation, Siemens Healthineers.

The deal will bring FTD sites in Luxembourg, Malta, and India, and a staff of 80 into the Healthineers fold. The company will continue to use its brand name, Fast Track Diagnostics.

FTD’s CEO Bill Carman said in a statement that the wide range of assays now possible under the Healthineers umbrella means “great things for all of our customers globally.”

Siemens was in the news earlier this month when it announced plans to list its health care unit on the Frankfurt Stock Exchange's Regulated Market.

"Frankfurt is one of the world's largest trading centers for securities, and its importance will continue to increase due to Brexit. As a highly liquid trading venue, Frankfurt is attractive for investors from around the world. The public listing will give Siemens Healthineers entrepreneurial flexibility and access to the capital market. The goal is to grow sustainably and profitably while actively shaping the paradigm shift in the health care industry," chairman of the Siemens Healthineers supervisory board and the member of Siemens' managing board Michael Sen said in a statement.

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