M&A Deal Summary

Qiagen N.V Acquires Verogen

On January 9, 2023, Qiagen N.V acquired medical products company Verogen from Telegraph Hill Partners, 1315 Capital and Illumina for 150M USD

Acquisition Highlights
  • This is Qiagen N.V’s 4th transaction in the Medical Products sector.
  • This is Qiagen N.V’s 3rd largest (disclosed) transaction.
  • This is Qiagen N.V’s 11th transaction in the United States.
  • This is Qiagen N.V’s 4th transaction in California.

M&A Deal Summary

Date 2023-01-09
Target Verogen
Sector Medical Products
Buyer(s) Qiagen N.V
Sellers(s) Telegraph Hill Partners
1315 Capital
Illumina
Deal Type Add-on Acquisition
Deal Value 150M USD

Target

Verogen

San Diego, California, United States
website
Verogen is a developer, manufacturer, and sells forensic genomics products and services, including for next-generation sequencing. Verogen was formed in 2017 and is based in San Diego, California.

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Buyer(S) 1

Buyer

Qiagen N.V

Venlo, Netherlands

website


Category Company
Founded 1984
Sector Life Science
Employees5,200
Revenue 1.5B USD (2019)
DESCRIPTION

QIAGEN N.V. is a Netherlands holding company publically traded on NASDAQ and Frankfurt Prime Standard. The Company is the leading global provider of Sample & Assay Technologies that are used to transform biological materials into valuable molecular insights. Sample technologies are used to isolate and process DNA, RNA and proteins from biological samples such as blood or tissue. Assay technologies are then used to make these isolated biomolecules visible and ready for interpretation. QIAGEN markets more than 500 products around the world, selling both consumable kits and automation systems to customers through four customer classes: Molecular Diagnostics (human healthcare), Applied Testing (forensics, veterinary testing and food safety), Pharma (pharmaceutical and biotechnology companies) and Academia (life sciences research). Qiagen was founded in 1986 and is based in Venlo, the Netherlands.


DEAL STATS #
Overall 16 of 16
Sector (Medical Products) 4 of 4
Type (Add-on Acquisition) 15 of 15
State (California) 4 of 4
Country (United States) 11 of 11
Year (2023) 1 of 1
Size (of disclosed) 3 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-11 BLIRT

Gdańsk, Poland

BLIRT develops, manufactures and commercializes standardized and customized solutions for proteins and enzymes as well as molecular biology reagents. Its offering includes proteins and enzymes that are critical to the life sciences industry and diagnostic kit manufacturers, especially for non-COVID-19 applications. BLIRT was founded in 1994 and is based in Gdansk, Poland.

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Seller(S) 3

SELLER

Telegraph Hill Partners

San Francisco, California, United States

Investor Investor Investor Investor Investor

website


Category Venture Capital Firm
Founded 2001
Size Middle-Market
Type Sector Focused
DESCRIPTION

Telegraph Hill Partners is a specialist private equity firm focused on investing in later-stage life science, medical device, and healthcare companies. Prospective companies should be at or near profitability and demonstrate success. Other areas of interest within the healthcare sector include life science technologies, chemistry/reagent suppliers, and information management. Telegraph Hill Partners was formed in 2001 and is based in San Francisco, California.


DEAL STATS #
Overall 28 of 28
Sector (Medical Products) 14 of 14
Type (Add-on Acquisition) 23 of 23
State (California) 18 of 18
Country (United States) 27 of 27
Year (2023) 1 of 1
Size (of disclosed) 7 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-12 Specific Diagnostics

San Jose, California, United States

Specific Diagnostics is a developer of in vitro diagnostic systems for the detection and identification of microorganisms while they grow in culture. Specific Diagnostics was founded in 2011 and is based in San Jose, California.

Sell -
DESCRIPTION

1315 Capital is a private investment firm that provides expansion and growth capital to commercial-stage specialty pharmaceutical, medical technology, and healthcare service companies. The Firm will consider opportunities across the US and generally looks to commit $10 to $40 million per investment. 1315 Capital was formed in 2014 and is based in Philadelphia, Pennsylvania.


DEAL STATS #
Overall 4 of 4
Sector (Medical Products) 2 of 2
Type (Add-on Acquisition) 3 of 3
State (California) 2 of 2
Country (United States) 4 of 4
Year (2023) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-02 Biocoat

Horsham, Pennsylvania, United States

Biocoat develops and licenses biomaterial coatings for medical devices that are custom engineered to meet specific clinical parameters. The company specializes in supplying lubricious hydrophilic coatings for medical devices to original equipment manufacturers and contract manufacturers. Biocoat is able to recommend contract coaters or to provide in-house coating services to aspiring medical device companies that need help with manufacturing. The company also sells diagnostic test kits in the reproductive market for use in male factor infertility. Biocoat was founded in 1991 and is based in Horsham, Pennsylvania.

Sell -
SELLER

Illumina

San Diego, California, United States

website


Category Company
Founded 1998
Sector Life Science
Employees11,500
Revenue 4.6B USD (2022)
DESCRIPTION
Entrance to Illumina's corporate headquarters in San Diego, California.
Entrance to Illumina's corporate headquarters in San Diego, California.

Illumina is a developer, manufacturer, and marketer of life science tools and integrated systems for the analysis of genetic variation and function. Illumina provides innovative sequencing and array-based solutions for genotyping, copy number variation analysis, methylation studies, gene expression profiling, and low-multiplex analysis of DNA, RNA, and protein. The Company's customers include genomic research centers, academic institutions, government laboratories, hospitals, and reference laboratories as well as pharmaceutical, biotechnology, agrigenomics, commercial molecular diagnostic, and consumer genomics companies. Illumina was formed in 1998 and is based in San Diego, California.


DEAL STATS #
Overall 3 of 3
Sector (Medical Products) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (California) 2 of 2
Country (United States) 3 of 3
Year (2023) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-14 Dama Health

London, United Kingdom

Dama Health is a women's health company that offers precision screening to identify the most suitable contraception type and formulation, empowering women, people assigned to females at birth, and clinicians to make personalized reproductive health decisions. Dama Health is based in London, United Kingdom.

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