Privately held Stretton already distributes Cepheid’s SmartCycler system to customers, including the National Health Service, throughout the UK. Back in October, Cepheid's Xpert MRSA test, proved to be 100% accurate, allowing doctors at the Birmingham's Children's Hospital to identify MRSA carriers in under an hour
The acquisition of Stretton is expected to “augment our newly established UK-based direct sales team,” said Cepheid CEO John Bishop. Cepheid said that it will pay the $1.9m acquisition price in cash.
It expects to close the transaction early this month, subject to customary closing conditions. Cepheid noted that the deal is not expected to have a material impact on its fourth-quarter financial results.