SAN DIEGO, April 19, 2016 /PRNewswire/ -- Sequenom, Inc.,
(NASDAQ: SQNM), a life sciences company committed to enabling
healthier lives through the development of innovative products and
services, today announced the completion of the
previously-announced consolidation of Sequenom Laboratories™
North Carolina operations into its
San Diego laboratory
facility.
"Completing the consolidation of our North Carolina operations is an important
accomplishment that will contribute meaningfully to our 2016
corporate cost reduction goals. At the same time, we
have adequate capacity in San
Diego to absorb the test volumes that were being processed
in North Carolina, and still allow
for future growth," said Dirk van den
Boom, Ph.D., President and CEO of Sequenom.
Sequenom expects to record net cash costs of approximately
$1 million in the first quarter of
2016 in connection with the exit of its North Carolina facility and the implementation
of other cost saving measures throughout the Company.
Sequenom also reaffirmed its expectation of achieving in excess of
$20 million in annualized operating
cost savings by late 2016, related both to the facility
consolidation and other initiatives as previously announced.
About Sequenom
Sequenom, Inc. (NASDAQ: SQNM) is a
pioneering genetic testing company dedicated to women's health
through the development of innovative products and services.
The Company serves patients and physicians by providing early
patient management information. For more information, visit
www.sequenom.com.
About Sequenom Laboratories
Sequenom Laboratories, a
CAP-accredited and CLIA-certified molecular diagnostics laboratory,
has developed a broad range of laboratory tests, with a focus
principally on prenatal care. Branded under the names HerediT®,
HerediT® UNIVERSAL, MaterniT® GENOME, MaterniT® 21 PLUS, NextView®,
SensiGene® and VisibiliT™, these molecular genetic
laboratory-developed tests provide early patient management
information for obstetricians, geneticists, and maternal fetal
medicine specialists. Sequenom Laboratories is changing the
landscape in genetic diagnostics using proprietary cutting edge
technologies. Visit www.laboratories.sequenom.com and follow
@SequenomLabs.
SEQUENOM®, HerediT®,
MaterniT®, NextView®, SensiGene®,
VisibiliT™ and Sequenom Laboratories™ are
trademarks of Sequenom, Inc. All other trademarks and service marks
are the property of their respective owners.
Forward-Looking Statements
Statements contained in
this press release regarding matters that are not historical facts
are "forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 including statements
regarding the development of innovative products and services, that
the consolidation of the North
Carolina operations will contribute meaningfully to our 2016
corporate cost reduction goals and the ability to achieve
annualized operating cost savings in excess of $20 million by late 2016. Risks are
described more fully in the Company's filings with the Securities
and Exchange Commission, including without limitation the Company's
most recent Form 10K and other documents subsequently filed with or
furnished to the Securities and Exchange Commission. All
forward-looking statements contained in this press release speak
only as of the date on which they were made. The Company
undertakes no obligation to update such statements to reflect
events that occur or circumstances that exist after the date on
which they were made.
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SOURCE Sequenom, Inc.