German firm Siemens Healthineers has entered an agreement to acquire Luxembourg-based molecular diagnostic tests supplier Fast Track Diagnostics (FTD).

Siemens intends to bolster its precision medicine portfolio, improve patient outcomes and decrease the time spent in the lab for identifying infections.

With a total of 48,000 employees, Siemens Healthineers develops products and services for diagnosis, therapeutic imaging, and molecular medicine.

The acquisition includes FTD sites in Luxembourg, Malta, and India, along with around 80 employees. After the transaction is completed, the firm is set to continue operating as Fast Track Diagnostics.

FTD’s test can detect more than 140 viruses, bacteria, parasites and fungi that cause various infections such as respiratory, gastroenteritis, meningitis, hepatitis, immunosuppressed infections, tropical diseases, sexually transmitted disorders, and early childhood conditions.