Beckman Coulter to Acquire Lab-Based Diagnostics Business From Olympus Corporation

Beckman Coulter and Olympus Corporation, a Tokyo-headquartered precision technology leader creating innovative opto-digital solutions in healthcare, life science and consumer electronics products, have entered into a definitive agreement under which Beckman Coulter will acquire the diagnostic systems portion of Olympus' Life Sciences business.

This acquisition will broaden Beckman Coulter's Chemistry offering, establishing a leadership position with particular strength in larger hospital laboratories. In addition, the transaction will extend Beckman Coulter’s broad chemistry customer base, representing a valuable new customer set for Beckman Coulter's Immunoassay products.

Scott Garrett, Beckman Coulter's Chairman, President and Chief Executive Officer, said, "This compelling transaction combines the chemistry product lines of our two companies into a complete chemistry systems offering. It enhances Beckman Coulter as a leading provider of chemistry products with additional opportunities to expand our immunoassay reach into their chemistry installed base. Customers will benefit from the expanded range of products, particularly those large hospital and university laboratories where higher throughput systems are preferred. In addition, Beckman Coulter's strength in total lab automation will be complemented by Olympus' strong pre-analytical automation position in Europe and Asia.

"We remain focused on creating shareholder value through growth, quality and operating excellence. The combination of Beckman Coulter and Olympus demonstrates our commitment to further expand chemistry and sustain our above-market growth in immunoassay. A foundation of stable markets, a defensive business model, well-recognized competencies in optimizing lab processes and an unyielding commitment to quality positions us for continued leadership in biomedical testing," Garrett concluded.

This transaction is expected to close in the third quarter of 2009 and is subject to customary government approvals, the finalization of certain ancillary agreements and the disclosure schedules, as well as other customary conditions.