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QIAGEN (QGEN) to Acquire Poland-Based Enzymes Manufacturer
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QIAGEN N.V. (QGEN - Free Report) recently inked agreements to acquire a 96% majority ownership stake in BLIRT S.A. — a manufacturer of recombinant enzymes for the life science industry. The buyout is part of QIAGEN’s strategy to focus on attractive growth possibilities within the life science and molecular diagnostic spaces and its disciplined approach to value-creating acquisitions.
The transaction is stated to close during the second quarter of 2022, following which QIAGEN will obtain full ownership of BLIRT. Per the company, the acquisition does not have any material impact on its April 26-announced financial outlook for 2022.
This buyout is likely to fortify the sample technologies business, one of QIAGEN’s five pillars of growth.
Few Words on BLIRT S.A.
Based in Gdansk, Poland, BLIRT develops, manufactures and commercializes standardized and customized solutions for proteins and enzymes and molecular biology reagents. It offers proteins and enzymes that are crucial to the life sciences industry and diagnostic kit manufacturers, particularly for non-COVID-19 applications. The company generated under $10-million sales in 2021.
Image Source: Zacks Investment Research
Strategic Benefits of the Transaction
The acquisition of BLIRT adds highly complementary capabilities to QIAGEN’s enzymes and reagents business. It will also help QIAGEN to extend its geographic presence, introduce new sales channels, boost production and research and development (R&D) capacities, and protect its supply chains.
This transaction will scale BLIRT’s operations, adding increased growth momentum within the business. In addition, management at BLIRT expects to observe positive synergy effects from the joint operations of both companies in the coming years.
Industry Prospects
Per a report published in Persistence Market Research, the global life science products market is expected to see a CAGR of 4.3% by 2024. Factors such as growing R&D investments in the life sciences domain and rising demand for high-quality products and tools for research are attributable to market growth.
Given the market prospects, QIAGEN’s latest buyout of BLIRT to strengthen its foothold in the life sciences industry seems well-timed.
Other Notable Developments
QIAGEN is engaged in several significant developments in May 2022.
The company announced the receipt of CE-IVD certification for its NeuMoDx HSV 1/2 Quant Assay. This authorization makes the NeuMoDx HSV 1/2 Quant Assay available in the European Union and other countries that recognize the CE-IVD marking for use in the quantification and differentiation of herpes simplex virus type 1 (HSV-1) DNA and/or herpes simplex virus type 2 (HSV-2). It also supports QIAGEN’s plan to expand the menu of tests available for use on the NeuMoDx 96 and 288 Molecular Systems.
The company also launched the QIAxcel Connect— a high-speed, high-resolution and high-sensitivity nucleic acid analysis capillary electrophoresis (CE) instrument. The QIAxcel Connect allows for greater convenience compared with other CE products in the market, given its simple set-up, high flexibility and low running costs. It expands the company’s automation portfolio of high-quality products, enabling researchers to publish their insights rapidly with more confidence.
Share Price Performance
The stock has outperformed its industry in the past year. It has lost 1.2% compared with the industry’s 38.4 will% fall.
Zacks Rank and Key Picks
Currently, QIAGEN carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , Medpace Holdings, Inc. (MEDP - Free Report) and UnitedHealth Group Incorporated (UNH - Free Report) .
AMN Healthcare has a long-term earnings growth rate of 1.1%. The company surpassed earnings estimates in the trailing four quarters, delivering a surprise of 15.6%, on average. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AMN Healthcare has outperformed its industry in the past year. AMN has declined 4.6% versus the industry’s 62.4% fall.
Medpace has a historical growth rate of 27.3%. Medpace’s earnings surpassed estimates in the trailing four quarters, the average surprise being 17.1%. It currently has a Zacks Rank #2 (Buy).
Medpace has outperformed its industry in the past year. MEDP has declined 14% against the industry’s 62.4% fall.
UnitedHealth has an estimated long-term growth rate of 14.8%. UnitedHealth’s earnings surpassed estimates in the trailing four quarters, the average surprise being 3.7%. It currently carries a Zacks Rank #2.
UnitedHealth has outperformed the industry over the past year. UNH has gained 18.8% compared with 16.2% industry growth in the said period.
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QIAGEN (QGEN) to Acquire Poland-Based Enzymes Manufacturer
QIAGEN N.V. (QGEN - Free Report) recently inked agreements to acquire a 96% majority ownership stake in BLIRT S.A. — a manufacturer of recombinant enzymes for the life science industry. The buyout is part of QIAGEN’s strategy to focus on attractive growth possibilities within the life science and molecular diagnostic spaces and its disciplined approach to value-creating acquisitions.
The transaction is stated to close during the second quarter of 2022, following which QIAGEN will obtain full ownership of BLIRT. Per the company, the acquisition does not have any material impact on its April 26-announced financial outlook for 2022.
This buyout is likely to fortify the sample technologies business, one of QIAGEN’s five pillars of growth.
Few Words on BLIRT S.A.
Based in Gdansk, Poland, BLIRT develops, manufactures and commercializes standardized and customized solutions for proteins and enzymes and molecular biology reagents. It offers proteins and enzymes that are crucial to the life sciences industry and diagnostic kit manufacturers, particularly for non-COVID-19 applications. The company generated under $10-million sales in 2021.
Image Source: Zacks Investment Research
Strategic Benefits of the Transaction
The acquisition of BLIRT adds highly complementary capabilities to QIAGEN’s enzymes and reagents business. It will also help QIAGEN to extend its geographic presence, introduce new sales channels, boost production and research and development (R&D) capacities, and protect its supply chains.
This transaction will scale BLIRT’s operations, adding increased growth momentum within the business. In addition, management at BLIRT expects to observe positive synergy effects from the joint operations of both companies in the coming years.
Industry Prospects
Per a report published in Persistence Market Research, the global life science products market is expected to see a CAGR of 4.3% by 2024. Factors such as growing R&D investments in the life sciences domain and rising demand for high-quality products and tools for research are attributable to market growth.
Given the market prospects, QIAGEN’s latest buyout of BLIRT to strengthen its foothold in the life sciences industry seems well-timed.
Other Notable Developments
QIAGEN is engaged in several significant developments in May 2022.
The company announced the receipt of CE-IVD certification for its NeuMoDx HSV 1/2 Quant Assay. This authorization makes the NeuMoDx HSV 1/2 Quant Assay available in the European Union and other countries that recognize the CE-IVD marking for use in the quantification and differentiation of herpes simplex virus type 1 (HSV-1) DNA and/or herpes simplex virus type 2 (HSV-2). It also supports QIAGEN’s plan to expand the menu of tests available for use on the NeuMoDx 96 and 288 Molecular Systems.
The company also launched the QIAxcel Connect— a high-speed, high-resolution and high-sensitivity nucleic acid analysis capillary electrophoresis (CE) instrument. The QIAxcel Connect allows for greater convenience compared with other CE products in the market, given its simple set-up, high flexibility and low running costs. It expands the company’s automation portfolio of high-quality products, enabling researchers to publish their insights rapidly with more confidence.
Share Price Performance
The stock has outperformed its industry in the past year. It has lost 1.2% compared with the industry’s 38.4 will% fall.
Zacks Rank and Key Picks
Currently, QIAGEN carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , Medpace Holdings, Inc. (MEDP - Free Report) and UnitedHealth Group Incorporated (UNH - Free Report) .
AMN Healthcare has a long-term earnings growth rate of 1.1%. The company surpassed earnings estimates in the trailing four quarters, delivering a surprise of 15.6%, on average. It currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AMN Healthcare has outperformed its industry in the past year. AMN has declined 4.6% versus the industry’s 62.4% fall.
Medpace has a historical growth rate of 27.3%. Medpace’s earnings surpassed estimates in the trailing four quarters, the average surprise being 17.1%. It currently has a Zacks Rank #2 (Buy).
Medpace has outperformed its industry in the past year. MEDP has declined 14% against the industry’s 62.4% fall.
UnitedHealth has an estimated long-term growth rate of 14.8%. UnitedHealth’s earnings surpassed estimates in the trailing four quarters, the average surprise being 3.7%. It currently carries a Zacks Rank #2.
UnitedHealth has outperformed the industry over the past year. UNH has gained 18.8% compared with 16.2% industry growth in the said period.