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Qiagen NV (NYSE:QGEN) is evaluating selling a minority stake in its bioinformatics division, which may value the business at more than $1 billion.
The diagnostics firm is working with an adviser to find a possible buyer for the unit, which makes software for analyzing biological information, according a Bloomberg report from Friday, which cited people familiar. Talks are fluid and no final decisions have been made.
The stake sale is expected to garner interest from private equity firms, according to the report. In any scenario, Qiagen (QGEN) is expected to retain a majority interest in the business.
The report comes as Qiagen (QGEN) has been the subject of much M&A talk in recent years, most recently an October WSJ report that diagnostics company Bio-Rad Laboratories (BIO) was in talks with competitor Qiagen to combine. Bloomberg reported in November 2021 that Qiagen (QGEN) attracted buyout interest from French diagnostics company bioMérieux. Thermo Fisher (TMO) in 2020 walked away from its proposed acquisition of Qiagen after its holders rejected a sweetened offer.
Earlier this month Qiagen (QGEN) said it completed the acquisition of DNA-biometrics company Verogen for $150M.
Qiagen (QGEN) is scheduled to report Q4 results on Feb. 7. Bio-Rad is expected to report results on Feb. 16.
