Danaher Corporation (NASDAQ: DHR) has set a new direction for itself, after spinning off its Test & Measurement segment, Industrial Technologies segment and its Retail/Commercial Petroleum platform into Fortive Corporation (NYSE: FTV) on July 2. Post-separation, the company is positioned as a global science and technology  innovator with more than 20 operating companies in the health care, environmental and industrial industries.

In September, Danaher announced its acquisition of Cepheid (NASDAQ: CPHD ) for $3.9 billion, or $53.00 per share. The consideration represents approximately a 54% percent premium to Cepheid’s common stock over the closing price of $34.42 on September 2, 2016.

Cepheid is a molecular diagnostics company that develops, manufactures and markets integrated systems for testing in the clinical and non-clinical markets. Its GeneXpert® systems enable molecular testing for organisms and genetic-based diseases by automating manual laboratory processes.

Shortly after the acquisition announcement, Cepheid announced that its Xpert® Finger Stick HIV viral load assay test is currently in Phase 1 development, with partial funding from the Bill & Melinda Gates Foundation. The test is designed to be the first point-of-care test to deliver lab-quality results from a few drops of finger stick-collected blood at remote patient sites, in contrast to existing HIV viral load tests that require venipuncture and separation of plasma from venous blood at a limited number of molecular lab locations.

Cepheid will become part of Danaher’s $5 billion diagnostics segment, joining the company’s Beckman Coulter, Leica Biosystems and Radiometer businesses.

Cepheid generated revenue of $539 million in 2015, and is expecting to generate between $618 million to $635 million in 2016.