Marlborough co. completes $12M acquisition
A Marlborough-based diagnostics company has finalized the purchase of a Massachusetts competitor focused on testing for Lyme disease.
Oxford Immunotec Global PLC, which has locations in Marlborough and the United Kingdom, has purchased Immunetics, Inc. The purchase is for $6 million with up to an additional $6 million if certain revenue and pipeline related thresholds are met in the next three years.
The acquisition continues Oxford Immunotec down the path of “becoming a leader in diagnostics for immune-regulated conditions,” according to Dr. Peter Wrighton-Smith, CEO of Oxford Immunotec.
“Through this acquisition, we are growing and diversifying our revenue streams, adding additional proprietary content to build a differentiated offering in the tick-borne disease market and improving our profitability profile,” he said in a statement.
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