Siemens Healthineers Announces Acquisition of Fast Track Diagnostics
Siemens Healthineers has signed an agreement to acquire Luxembourg-based Fast Track Diagnostics (FTD), a global supplier of diagnostics tests that, unlike a clinical examination alone, can distinguish between viral, bacterial, or other infections in one test. By introducing FTD products to its molecular diagnostics portfolio, Siemens Healthineers is further investing in precision medicine and better patient experience through solutions that eliminate the need for repeat diagnostic testing, reducing time and improving patient outcomes.
The acquisition of FTD increases the menu of the Siemens Healthineers VERSANT® kPCR Molecular System1 by over 80 assays and syndromic panels, transforming care delivery for its customers with a comprehensive solution for molecular testing of infectious diseases. In addition, FTD's platform-agnostic menu allows Siemens Healthineers to effectively serve a broader customer base.
"By integrating the high-quality and cost effective solutions of Fast Track Diagnostics into our own cutting-edge molecular diagnostics portfolio, Siemens Healthineers continues to strengthen and expand its presence in the field of molecular testing and precision medicine," says Fernando Beils, Head of Molecular Diagnostics, Siemens Healthineers. "We are excited to introduce both FTD's products and world-class team to the Siemens Healthineers family."
FTD's tests are real-time Polymerase Chain Reaction (PCR) kits, allowing for both singleplex and syndromic testing. PCR is a technique used to amplify nucleic acids (RNA and DNA) in laboratory samples, allowing clinicians to diagnose infections with just a small sample from patients. The tests target conditions such as respiratory infections, gastroenteritis, meningitis, hepatitis, infections of the immunosuppressed, tropical diseases, sexually transmitted diseases, and early childhood diseases, and can detect over 140 viruses, bacteria, parasites, and fungi. By consolidating testing for the infectious disease spectrum into a single molecular ecosystem and virtually open platform, Siemens Healthineers ensures leading-edge performance from extraction through detection, as well as increased workflow efficiency for molecular labs of all sizes.
"Combining FTD's wide range of assays with the Siemens Healthineers portfolio means great things for all of our customers globally," says Bill Carman, CEO of Fast Track Diagnostics. "In merging our efforts, we're enabling healthcare providers to meet their current challenges and deliver better outcomes for patients."
"In addressing the evolving needs of our customers and the molecular testing market, we enable them to provide more efficient and more effective care for their patients," confirms Dr. David Stein, Head of Strategy & Innovation, Siemens Healthineers. "This exciting step forward, alongside our newest team members from FTD, is the latest example of our ongoing commitment to our molecular diagnostics customers and their patients."
Through the acquisition, Siemens Healthineers will now include FTD's sites in Luxembourg, Malta, and India, as well as its workforce of about 80 employees. FTD will continue to operate under the brand name Fast Track Diagnostics throughout the world.
Date Published: January 9, 2018
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