Genetrix Inc., Genzyme deal

GENZ will acquire privately held Genetrix, a genetic testing laboratory, for 545,000 GENZ common shares. Genetrix will be merged into GENZ's Integrated Genetics diagnostic services business, with the combined business having annual revenues of $75 million, GENZ said. Integrated Genetics had revenues of $43.6 million in 1994. Genetrix brings a strong presence in the cancer market, GENZ said.

The number of shares issued will not change provided the average closing price of the stock for the 10 trading days ending two days prior to completing the transaction is not less than $67.28. GENZ closed at $72.25 on Friday. ...