Standard Biotools Agrees To Sell Microfluidics Business To ARCHIMED
(RTTNews) - On Monday, Standard BioTools Inc. (NASDAQ: LAB) announced that it has signed a definitive agreement to sell its Microfluidics business to ARCHIMED, an investment firm focused on the healthcare industry.
Standard BioTools CEO Michael Egholm said ARCHIMED's healthcare and life sciences expertise and resources will support the Microfluidics business and its continued growth under new ownership. The transaction is expected to close in about 30 days, subject to customary conditions. Until then, the Microfluidics business will continue operating as part of Standard BioTools.
On the Nasdaq in the after-hours, the shares were trading 3.00 percent up at $0.7859, after closing Monday's trading 2.46 percent higher.
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