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GenePOC reaches an agreement with Meridian Bioscience for the acquisition of its molecular diagnostics business

Fasken
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GenePOC Inc

On June 3, 2019, GenePOC, a Debiopharm Group company, concluded the sale of its molecular diagnostics business to Meridian Bioscience. The purchase price for GenePOC’s molecular business has a maximum potential value of $120M US, with $50M US paid at closing (subject to a holdback and working capital adjustment), subsequent payments of up to $20M US in 2020 and 2021, based on the achievement of certain technical milestones, and a final payment of up to $50M US payable over Meridian’s fiscal 2023 based on the sales performance of certain molecular assays and the achievement of the related profit margin.

This decision was made in response to the need to identify a partner with a solid commercialization capacity, in order to quickly offer the benefit of rapid, high-quality diagnostics testing to patients, supporting targeted therapeutic decisions for infectious diseases.

GenePOC was a company that specialized in the development of medical diagnostic devices that enable the rapid detection of infectious diseases.

A Fasken team led by Sylvie Bourdeau and composed of Kadiatou Sow, Antonella Penta, Jonathan Poulin, Laurence Déry, Jean-Philippe Mikus, Sébastien Roy, Jean-Raphaël Champagne, Alain Ranger, Pierre-Olivier Charlebois and Serge Lapointe represented GenePOC in connection with this transaction.

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