Issue Date: March 28, 2011
Quest Will Acquire Genome Pioneer Celera
Quest Diagnostics has agreed to acquire Celera, a genetic diagnostics firm, in a stock deal valued at $344 million. Quest will gain access to Celera’s proprietary genetic tests and its pipeline of biomarkers. The company will also get a cardiovascular testing technology developed by Berkeley HeartLab, a division of Celera. “Our discovery and validation of new biomarkers have exceeded our capacity to commercialize them,” says Celera CEO Kathy Ordoñez in explaining the sale to the larger Quest. Celera was formed in 1998 to sequence the human genome. J. Craig Venter was the firm’s first president.
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