Miraca Holdings Inc. ("Miraca"), Japan's largest clinical diagnostics and laboratory testing service provider, and Caris Life Sciences, Inc. ("CLS"), a privately-held company headquartered in Texas specializing in the development and commercialization of the highest quality anatomic pathology, molecular profiling, and blood-based diagnostic technologies, today announced that they have completed the sale of CLS' anatomic pathology ("AP") business to Miraca. As listed under the terms of the transaction, originally announced on Oct. 6, 2011, Miraca has acquired the AP business operated by Caris Diagnostics, Inc. ("CDx," a 100% subsidiary of CLS) and its subsidiaries and affiliates. The total purchase price was $725 million, including the repayment of the existing debt, subject to customary post-closing price adjustments.
"Both companies are extremely well-positioned for the future, and we are grateful to Mr. Halbert and his team for their long-term investment in the world-class AP offerings that we have acquired," said Dr. Hiromasa Suzuki, Ph.D., President and CEO of Miraca. "With the power of Caris' successful, proven AP business, we will continue to provide the highest-quality diagnostic services in gastroenterology, dermatology, urology and hematology, and we look forward to both investing in and building the business going forward."
CLS and Miraca Holdings have worked together to ensure a seamless transition of CLS' AP business. Both parties emphasized that the clinician, patient and payor stakeholders will continue to receive the comprehensive, high-quality diagnostic services to which they are accustomed.
"Miraca shares our mission of providing superior healthcare through better, more informed diagnostics, and I know that the patients and physicians we have served so well over the years will continue to benefit from outstanding diagnostic services under Miraca's leadership," said David D. Halbert, Chairman and CEO of CLS. "The future is also very bright for Caris Life Sciences, which will now focus exclusively on the advancement and delivery of the Caris Target Now evidence-based molecular profiling service and the transformative Carisome(TM) platform, a proprietary, blood-based testing technology for cancer and other complex diseases."
As a result of today's closing, Caris' Target Now and Carisome businesses and associated legal entities have been transitioned into a new holding company, Caris Life Sciences, Ltd.
About Miraca Holdings
With group net sales of JPY165.7 billion (FYE 3/2010), Miraca Holdings, a Japan-based holding company in the healthcare sector, is engaged in the business consisting of three segments: (i) development, manufacture, and commercialization of in vitro diagnostics, (ii) clinical laboratory testing, and (iii) other healthcare related businesses, which are conducted by its subsidiaries and affiliates including Fujirebio Inc., a leading supplier of in vitro diagnostics in Japan, and SRL, Inc. ("SRL"), Japan's largest commercial laboratory. SRL offers comprehensive clinical laboratory testing services to medical institutes throughout the nation, ranging from general testing to esoteric testing, including gene-based tests. To learn more, please visit www.miraca-holdings.co.jp.
About Caris Life Sciences
Caris Life Sciences is a leading biosciences company focused on developing and delivering innovative molecular diagnostic, prognostic and theranostic services. The company's evidence-based molecular profiling service, Caris Target Now(TM), matches molecular data generated from a patient's tumor with biomarker/drug associations derived from the world's leading clinical cancer literature. Caris Target Now uses the most advanced and clinically-relevant technologies to provide physicians with information to aid in the selection of personalized cancer treatments more likely to work for each patient. Caris is also developing a series of blood tests based on the company's patented Carisome(TM) platform -- a proprietary, blood-based testing technology for diagnosis, prognosis and theranosis of cancer and other complex diseases. Through the precise and personalized information provided by technologies like Caris Target Now and Carisome, the company believes that the quality of healthcare can be dramatically improved, while also significantly reducing costs. Headquartered in the Dallas metroplex, Caris Life Sciences offers services throughout the United States, Europe and other international markets. To learn more, please visit www.carislifesciences.com or www.caristargetnow.com.
CONTACT: Miraca Holdings Inc.
Hiroaki Kimura
General Manager
IR Public Relations Department
20F, STEC Bldg.,1-24-1 Nishishinjuku,
Shinjuku-ku, Tokyo 160-0023, Japan
Tel: +81-3-5909-3337
hk-kimura@miraca-holdings.co.jp