Nestle Health Science to acquire Prometheus

by Staff
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LUTRY, SWITZERLAND — Nestle Health Science S.A. has agreed to acquire Prometheus Laboratories, Inc. Prometheus is based in San Diego and specializes in diagnostics and specialty pharmaceuticals in gastroenterology and oncology with expected 2012 sales to be around $250 million.

“This acquisition is a strategic move into gastrointestinal diagnostics,” said Luis Cantarell, president and chief executive officer of Nestle Health Science. “Prometheus’ leading edge diagnostics and highly experienced medical sales representatives together constitute a robust platform for Nestle Health Science to accelerate its current and future healthcare business. It will enable new personalized health care solutions based on diagnostics, pharma and nutrition.”

The goal of the acquisition is to boost the research program being established at the newly created Nestle Institute of Health Sciences and for developing personalized nutrition strategies.

“We are delighted to join Nestle Health Science and share their commitment to personalized health care,” said Joseph Limber, president and chief executive officer of Prometheus Laboratories. “Together we will accelerate the development of our innovative diagnostic platforms for gastroenterology and oncology. We intend to leverage Nestle Health Science’s products and geographic presence to add the nutritional dimension to our successful business model.”

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