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Tecan successfully completes the acquisition of NuGEN Technologies
Männedorf, Switzerland, September 3, 2018 - The Tecan Group (SIX Swiss Exchange: TECN) announced today that it has successfully completed the acquisition of NuGEN Technologies, Inc. (NuGEN) on August 31, 2018. On August 16, 2018, Tecan announced the acquisition of US-based NuGEN to further expand Tecan's dedicated solutions offering into the new market segment of next-generation sequencing (NGS) reagents and thus further increasing Tecan's overall recurring revenues. NuGEN is a leading provider for innovative NGS kits and genomic sample preparation solutions for the fastest growing field within the genomics area.
From September 1, 2018, NuGEN will be included in the consolidated financial statements of the Tecan Group as a part of the Life Sciences Business segment.
Additional information can be found on the NuGEN webpage:
Tecan (www.tecan.com) is a leading global provider of laboratory instruments and solutions in biopharmaceuticals, forensics and clinical diagnostics. The company specializes in the development, production and distribution of automated workflow solutions for laboratories in the life sciences sector. Its clients include pharmaceutical and biotechnology companies, university research departments, forensic and diagnostic laboratories. As an original equipment manufacturer (OEM), Tecan is also a leader in developing and manufacturing OEM instruments and components that are then distributed by partner companies. Founded in Switzerland in 1980, the company has manufacturing, research and development sites in both Europe and North America and maintains a sales and service network in 52 countries. In 2017, Tecan generated sales of CHF 548 million (USD 560 million; EUR 494 million). Registered shares of Tecan Group are traded on the SIX Swiss Exchange (TECN; ISIN CH0012100191).
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