A Medical Device Daily
Applera (Norwalk, Connecticut) reported that the registration statement relating to the proposed separation of its Celera (Rockville, Maryland) business has been declared effective by the SEC, with the separation expected to be completed at 12:01 a.m. EDT, on July 1, subject to satisfaction of certain conditions, including receipt of certain consents and listing of the Celera common stock on the Nasdaq stock market.
As previously described, the separation will be accomplished by means of redemption of all of the outstanding shares of Applera - Celera Group tracking stock (Medical Device Daily, May 12, 2008). In the redemption, each outstanding share of Celera Group tracking stock will be redeemed in exchange for one share of common stock of Celera Corp., presently a wholly owned subsidiary of Applera. The Celera Corp. shares distributed in the redemption of the Celera Group tracking stock will constitute all of Celera's outstanding common stock.
Celera is a diagnostics business delivering personalized disease management. Berkeley HeartLab (Burlingame, California), a subsidiary of Celera, offers services to predict cardiovascular disease risk and optimize patient management. Celera also commercializes a wide range of molecular diagnostic products through its strategic alliance with Abbott Laboratories (Abbott Park, Illinois) and has licensed other relevant diagnostic technologies developed to provide personalized disease management in cancer and liver diseases.
Applera is selling its other operating group, Applied Biosystems (Foster City, California), to Invitrogen (Carlsbad, California) in a cash-and-stock deal valued at $6.7 billion which is expected to close this fall (MDD, June 13, 2008). Applied Biosystems develops instrument-based systems, consumables, software, and services.