Thursday, November 4, 2010
International Technidyne Acquired By Warburg Pincus, Merges With Nexus Dx
San Diego-based International Technidyne Corporation (ITC), a provider of blood testing devices, has been acquired by private equity firm Warburg Pincus, and also merged with venture backed San Diego firm Nexus Dx. According to ITC, a subsidiary of Warburg Pincus has acquired the firm in a deal worth $55M in cash. As part of the acquisition, the firm also merged with Nexus Dx, a clinical diagnostics firm. Financial details of the merger portion with Nexus Dx was not disclosed. Nexus Dx was venture backed by Bay City Capital, Kleiner Perkins Caufield & Byers, and Prolog Ventures. The firms said the merger and acquisition is the third transaction involving Nexus Dx in the last 15 months, including the acquisition of Nanogen's POC cardiac marker assets from bankruptcy in July of 2009, and a merger with HX Diagnostics in September 2009. The companies said that Nexus Dx was advised by Inverness Advisors in the latest transaction. Jim Merselis, former President and CEO of Nexus Dx, now heads up the combined company.