Nestlé breaks into diagnostics, acquiring Prometheus for rumoured $1bn

 
• By Madeleine Armstrong
  
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Food giant Nestlé is expanding its presence in the healthcare market by agreeing to buy US gastrointestinal and cancer diagnostics specialist Prometheus Laboratories. Although the Swiss group has not disclosed financial terms of the deal, a figure of around $1bn for the merger consideration has been touted by analysts and the press.

Food giant Nestlé is expanding its presence in the healthcare market by agreeing to buy US gastrointestinal and cancer diagnostics specialist Prometheus Laboratories. Although the Swiss group has not disclosed financial terms of the deal, a figure of around $1bn for the merger consideration has been touted by analysts and the press.

San Diego, California-based Prometheus develops diagnostics for conditions including Crohn's disease, ulcerative colitis and lactose intolerance, as well as tests...

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