Nestlé Health Science acquires leading US gastrointestinal diagnostics company | Nestlé Health Science

Lutry, 24 May 2011 – Nestlé Health Science S.A. today announced that it has agreed to acquire Prometheus Laboratories Inc., a San Diego-based company. Prometheus specialises in diagnostics and in-licensed specialty pharmaceuticals in gastroenterology and oncology, and has a dedicated team of highly qualified medical sales representatives. The company focuses on conditions such as inflammatory bowel diseases, including Crohn’s disease and ulcerative colitis. The terms of the transaction, which is subject to regulatory approval, are not being disclosed.

Luis Cantarell, Nestlé Health Science President and CEO: “This acquisition is a strategic move into gastrointestinal diagnostics. Prometheus’s leading edge diagnostics and highly experienced medical sales representatives together constitute a robust platform for Nestlé Health Science to accelerate its current and future healthcare business. It will enable new personalised healthcare solutions based on diagnostics, pharma and nutrition.”

Prometheus’s strong expertise and R&D in gastrointestinal diagnostics will accelerate the research program that is being established in the newly-created Nestlé Institute of Health Sciences. It will create new opportunities for developing personalised nutrition strategies that will help in the management and prevention of chronic health conditions. The R&D pipeline will encompass other areas of strategic interest for Nestlé Health Science, such as metabolic conditions and brain health.

Joseph M Limber, Prometheus Laboratories Inc. President and CEO: “We are delighted to join Nestlé Health Science, and share their commitment to personalised healthcare. Together, we will accelerate the development of our innovative diagnostic platforms for gastroenterology and oncology. We intend to leverage Nestlé Health Science’s products and geographic presence to add the nutritional dimension to our successful business model.”

About 500 employees of Prometheus will join Nestlé Health Science as a result of the acquisition. In 2012 Prometheus’s annualised sales are expected to be around USD 250 million.

Prometheus’s capabilities strongly support Nestlé Health Science’s ambition of pioneering science-based nutritional solutions to deliver improved personalised health care for medical conditions.