Siemens buys Fast Track Diagnostics to boost molecular offering

FILE PHOTO: A logo of Siemens is pictured on a building in Mexico City, Mexico, May 16, 2017. REUTERS/Edgard Garrido/File Photo

FRANKFURT (Reuters) - Siemens said it has agreed to buy Luxembourg-based Fast Track Diagnostics to boost its molecular-testing offering, one of the areas it is keen to expand as it prepares to float its healthcare unit, Healthineers.

The Munich-based group did not disclose a purchase price on Friday for Fast Track, which has about 80 employees in Luxembourg, Malta and India.

Siemens said the acquisition would allow it to reduce time in the laboratory for the detection of conditions including respiratory infections, gastroenteritis, meningitis, hepatitis and tropical diseases.

It follows the acquisition of Neo New Oncology last year.

Reporting by Georgina Prodhan; Editing by Christoph Steitz