29th Dec 2010

December 29, 2010

CFO Systems Client, Transgenomic has closed the acquisition of medical diagnostics business Clinical Data with a price tag of $15.5 million.  In addition to the acquisition, $6 million of financing from a leading life sciences investment firm to help fund the acquisition.

Craig Tuttle, Chief Executive Officer of Transgenomic, said, “We are very excited about the acquisition, which strengthens our molecular diagnostics position in the marketplace, expands our commercial operation with an accomplished team that will improve our competitive position and enhances our customer support and patient care capabilities. We are also very excited about building a strategic relationship and having the support of such a respected investor as Third Security and Randal Kirk.  Their knowledge of our industry will be beneficial in catapulting Transgenomic into the top tier of diagnostic providers.”

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