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Roche buys Boston-based medical device company Constitution Medical Investors for $220M plus milestones.

Roche dishes out $220M for Constitution Medical Investors

Biotech titan Roche acquired Boston, Mass.-based medical device company Constitutional Medical Investors for a reported $220 million plus possible milestones.

The Swiss company intends to beef up its diagnostics arm, Roche Diagnostics (PINK:RHHBY), with CMI's technology and announced plans to open a Center for Excellence in Hematology at CMI's Boston location.

CMI's Bloodhound diagnostic device can identify blood diseases – from anemia to leukemia – with a single system that replaces the multiple diagnostic tools currently used in hospitals. The company is also developing a permanent birth control system.

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