Ventana buys Spring BioScience for $28.9 mln

Wed Sep 5, 2007 8:32am EDT

Sep 5 (Reuters) - Ventana Medical Systems Inc VMSI.O said it acquired Spring BioScience Corp, a company which develops and supplies rabbit monoclonal antibodies and other reagents, for $28.9 million in cash.

Ventana, which makes diagnostic tests, said it would also make milestone payments of up to $11.7 million to Spring BioScience's shareholders over the next two years.

Tucson, Arizona-based Ventana expects the deal to add 5 cents to its 2008 GAAP earnings per share and 9 cents to its 2009 GAAP EPS. (Reporting by Tenzin Pema in Bangalore)

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