Chelmsford, MA – Magellan Biosciences, a provider of advanced instruments, automated systems, point-of-care products, and consumables for biomedical research and clinical diagnostics, says it has acquired Hopkinton, MA-based TekCel. A developer of sample-management and assay-automation systems for biomedical research, TekCel employs approximately 35 people, all of whom are expected to remain with the company. Terms of the transaction were not disclosed.
"With the acquisition of TekCel, Magellan is now of sufficient scale to take advantage of opportunities that are beyond the reach of smaller enterprises," says Robert J Rosenthal, president and chief CEO of Magellan. "Our goal is to deliver consistent profitable growth through our own internal product development and selective acquisitions. Now, with revenues of nearly $50 million, we can afford to invest in the advanced systems and infrastructure necessary to build a world-class company, and we can attract and retain the best people."