Fullerton-based Beckman Coulter Corp. is buying San Diego’s Biosite Inc. for $1.5 billion, its biggest deal since predecessor Beckman Instruments Inc. bought Florida’s Coulter Corp. a decade ago.
Beckman Coulter is offering a 53% premium for Biosite from Friday’s close.
Biosite makes tests to diagnose heart failure, as well as detect drug use and intestinal parasites. It works with big drug makers to identify genetic indicators of heart disease.
The company had $300 million in sales last year.
Beckman makes instruments and chemicals for laboratories running tests for doctors as well as for drug and other medical researchers. It had sales of $2.4 billion last year.
The Biosite buy pushes Beckman further into biotechnology research. The deal is set to close in the second quarter, pending regulatory approval.
In 1997, Beckman acquired Coulter for $1.1 billion, creating what’s now Beckman Coulter.
One analyst downgraded Beckman’s shares on word of the Biosite deal on the prospect of lower earnings next year.
Beckman’s shares were down about 5% in early trading Monday on the downgrade and the premium it’s paying for Biosite.
