Nestle SA has sold Prometheus Laboratories Inc. to Precision IBD as the world’s largest food company prunes its health investments.
The sale of the U.S. subsidiary closed June 30, a Nestle Health Science spokeswoman said in an e-mailed response to questions. The company didn’t disclose financial details. Xconomy, a news website, cited an investor in Precision IBD saying the price was $650 million.
Nestle said in May that Prometheus was on strategic review. The San Diego-based company makes diagnostics treatments and has been developing personalized treatments for cancer and gastrointestinal illnesses. Nestle bought it in 2011.
The Swiss company said ...
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