BRAMPTON, Ont. – Gamma-Dynacare Medical Laboratories says it has acquired Warnex Medical Laboratories, a company that provides specialized laboratory testing services to the healthcare and pharmaceutical sectors.
Financial terms of the deal, announced Monday, were not revealed.
The acquired lab company is a division of Warnex Inc. (TSX:WNX), a Montreal-area life sciences company which also has drug research and bioanalytical services units.
Warnex Medical provides specialized testing to hospitals, private laboratories and medical specialists.
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“We welcome this opportunity to strengthen Gamma-Dynacare’s position as a leading Canadian reference laboratory,” said Naseem Somani, president and CEO of the private Toronto-area company.
“Warnex Medical Laboratories brings to Gamma-Dynacare expanded capabilities in molecular medicine, oncology and companion diagnostics that will enhance our growth in the field of personalized medicine. In addition, the assay development expertise of Warnex Medical Laboratories will accelerate our ability to bring new, value-added laboratory tests to the Canadian marketplace.”
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Gamma-Dynacare, with 2,000 employees, is based in Brampton, northwest of Toronto, and operates four Ontario labs – in Brampton, London, Ottawa and Bowmanville – one in Montreal and three in Winnipeg.
In addition, the company has more than 200 patient services centres in Ontario, Quebec, Manitoba, Saskatchewan and Alberta.
In Monday trading on the TSX, Warnex shares fell half a cent to four cents, a drop of more than 11 per cent.
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