- My News
- All News
- Most Popular
Danaher announced Monday that it agreed to sell its label-free biomolecular characterisation, chromatography hardware and resins, as well as its microcarriers and particle validation standards businesses to Sartorius for around $750 million in cash. Danaher CEO Thomas Joyce stated that "this represents a significant step in the regulatory process toward closing the GE biopharma acquisition," a deal announced in February for about $21.4 billion.
Joyce added that "while timing around meeting all closing conditions, including regulatory approvals, is still uncertain, we remain very encouraged by the progress to date and expect closing of the transaction in the first quarter of 2020." The businesses, which employ around 300 people worldwide and are part of Danaher's life sciences segment, had combined revenue of around $140 million last year.
Joachim Kreuzburg, chief executive at Sartorius, remarked that "the portfolio proposed for acquisition represents an excellent strategic fit." He said "with the Octet platform of FortéBio, we will add a broadly accepted and differentiated technology for advancing and simplifying drug discovery to our laboratory division's portfolio." Further, the chromatography hardware and resins and the microcarrier businesses "broaden our strong bioprocessing offering, particularly in the downstream area," the executive added.
Danaher noted that closing of the Sartorius deal is conditioned upon it finalising its acquisition of the GE biopharma business.
Did you like this article?