If things move quickly swiftly, Ventana Medical Systems will become part of Roche Holdings Feb. 7. If not, Roche will extend its offer, similar to what it has done in the past, the difference is that after seven months, the two sides have come to an agreement.

The agreement came Jan. 22, after Roche, headquartered in Basel, Switzerland, sweetened its offer by 19 percent, making its buy-out worth about $3.4 billion.

Roche says its new subsidiary will keep its name and its headquarters at 1910 E. Innovation Park Drive in Oro Valley. Christopher Gleeson, president and CEO of Ventana Medical, will continue in that role and become a member of the Roche Diagnostics Executive Committee.

Roche says Ventana Medical’s products that analyze human tissues and cells for cancer and other diseases will dovetail with its pharmaceutical manufacturing business that produces prescription drugs for such diseases. In fact, the diagnostic side of the business is forecast to grow at a faster rate than the treatment side.

Roche’s efforts to buy Ventana Medical started off with a publicly announced hostile bid on June 27, 2007, when it offered to buy shares at $75 each. On the previous trading day, the stock had closed at $51.95. Five times, Roche extended the original offer which Ventana Medical’s board steadfastly urged shareholders to reject. In November, Ventana agreed to let Roche conduct due diligence under a confidentiality agreement. Last week’s agreement calls for Roche to acquire shares at $89.50 each. Gleeson said the board is now recomending shareholders accept Roche’s offer.