Roche Buys Constitution Medical for $220 Million

Roche Holding AG said it bought Constitution Medical Investors Inc., a U.S. blood-testing company, for $220 million plus payments related to development of products.

CMI, based in Boston, Massachusetts and created and funded by private-equity company Warburg Pincus and CMI’s management, will serve as a ’’center of excellence’’ in the field of hematology within Roche’s diagnostics unit, the Basel, Switzerland-based company said today in a statement.

CMI makes the Bloodhound system, a product that tests blood samples for diseases that’s fully automated and replaces several work stations with a single unit. Roche said the blood-testing market was worth more than $2 billion in 2011.