Dade Behring Holdings, Inc., one of the world's largest companies solely dedicated to clinical diagnostics, has reached an agreement in principle to acquire certain medical diagnostic assets from Ranbaxy Laboratories.

The $1.6 billion-Dade Behring's and Ranbaxy's current partnership allows Ranbaxy's India-based customers to purchase Dade Behring's portfolio of products and services. Because of the success of this current relationship, Dade Behring is announcing its intention to acquire the same business that is currently distributing Dade Behring products, said a company release.

Jim Reid-Anderson, Chairman, president and CEO, Dade Behring. "India has a growing population, and awareness of the need for health care is increasing rapidly in both urban and rural areas. Our intent is to grow our presence in India by leveraging our innovative products and world-class service."