Tuesday, September 4, 2007

Celera Buys Berkeley HeartLab For $195M

Celera Group said today that it has acquired Berkeley HeartLab, a Burlingame-based provider of cardiovascular testing services and technology. The deal is worth $195M in cash. Celera said that the deal is expected close in its second quarter, and that Berkeley HeartLab will become a business unit of the company. According to Celera, BHL had annual revenues expected to exceed $85M in calendar 2007. BHL was founded in 1995 and has approximately 300 employees. The firm also operates a testing laboratory in Alameda. Molecular Securities advised Applera, Celera's parent firm, in the deal; BHL was advised by Wachovia Securities.