December 14, 2009 / 10:22 PM / 9 years ago

UPDATE 1-Abbott to buy Starlims Technologies for $123 mln

* Deal amounts to $14 per Starlims share

* Starlims shares closed at $9.50 on Nasdaq

* Deal to add to Abbott’s global diagnostics reach

NEW YORK, Dec 14 (Reuters) - Abbott Laboratories (ABT.N) said on Monday it has agreed to acquire Israel-based Starlims Technologies Ltd LIMS.TA for $123 million to boost its position in the global diagnostics market.

The deal amounts to $14 per share for all outstanding Starlims equity. Shares of Starlims, which currently has about $18 million in cash on hand, closed at $9.50 on Nasdaq.

The acquisition will give Abbott Starlims’ advanced web-based applications to help laboratories store, retrieve and analyze clinical, managerial and administrative data, the company said.

The Starlims line “will provide Abbott with leading products to build upon existing technologies and expertise in the emerging field of healthcare informatics,” Edward Michael, Abbott’s executive vice president for diagnostics products, said in a statement.

Illinois-based Abbott said it expects the transaction to close in the first quarter of 2010 and that it will not impact its 2009 earnings forecast.

As Abbott integrates Starlims into its existing laboratory information management products, the company will continue to support and expand the non-clinical market segments currently served by Starlims, Abbott said.

Abbott shares closed up 1 cent at $53.78 on the New York Stock Exchange. (Reporting by Bill Berkrot; editing by Carol Bishopric)

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