Celera to Buy Berkeley HeartLab
September 4, 2007 by Karen Mortensen
Celera Group announced today it will acquire Berkeley HeartLab, Inc. (BHL), a cardiovascular health care company, for about $195 million in cash, minus certain BHL transaction costs. It anticipates the definitive agreement to close during the second quarter of fiscal 2008. Celera is based in Rockville, Maryland, and is one of two Applera Corporation operating groups.
Celera is a biotech company that focuses on molecular diagnostics; it searches for new diagnostic markers using its own genomics and proteomics research models. (Let’s pause to define those medical terms… Genomics: The study of genes, for example, mapping the human genome. Proteomics: The study of proteins within the body, in this case to determine patterns of wellness or disease.)
Once Celera finds those hot little markers, it uses them to develop medical diagnostic products. The firm also wants to forge strategic partnerships with other companies in order to create products that can be used for therapeutic purposes.
That’s where BHL comes in, providing a “personalized cardiovascular risk management program” to doctors and patients. That includes everything from advanced cardio tests to stress reduction. The company was founded in 1995 and has about 300 employees.
In a press release issued today, Kathy Ordoñez, President of Celera, said the purchase gives the firm the commercial infrastructure needed for its molecular diagnostic tests in the area of cardiovascular medicine.
She added, “Celera’s genetic markers that are intended to identify people at risk for early heart attacks, stroke and blood clots and optimize therapy with cholesterol-lowering drugs, aspirin, anti-coagulants and other cardiovascular drugs should augment Berkeley HeartLab’s current disease management offerings to patients.”
The acquisition doesn’t just give Celera a hand in delivering disease management services. It also gives them access to a CLIA-certified laboratory. Why is this such a big deal? It’s because CLIA (Clinical Laboratory Improvement Amendments) is used to regulate all lab testing—except research—done on humans in the United States. Having a CLIA lab is a valuable tool in Celera’s tool belt.
For more information about the acquisition, Celera’s history, and its hopes for profitability, you can listen to a webcast of today’s conference call; executives from Applera, Celera, and BHL gave prepared remarks during the call and took questions from securities analysts and investment professionals. You can also listen by phone; call 888-286-8010 (toll-free) and enter passcode 35224777. Either way, you have to give them your name and company name. The Web version requires your email as well.
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