Gen-Probe Pays $53M for GTI Diagnostics

Xconomy San Diego — 

San Diego’s Gen-Probe (NASDAQ: GPRO), which specializes in molecular diagnostic products and services, says today it paid $53 million in cash to acquire GTI Diagnostics, a Waukesha, WI-based company focused on transplant diagnostics. In a statement this morning, Gen-Probe CEO Carl Hull says, “The acquisition gives us access to growing coagulation and transfusion-related blood bank products that we can sell to our current customer base.” GTI develops and manufactures the human leukocyte antigen (HLA) antibody detection products sold by Gen-Probe under its LIFECODES brand, along with a number of other HLA-related testing products. The sellers included the Riverside Company, a global private equity firm, and individual stakeholders, including GTI founders and executives.