21 October 2019 | News
Includes chromatography hardware and resins, and microcarriers (SoloHill) businesses
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Sartorius Stedim Biotech (SSB) has agreed to acquire parts of Danaher’s Life Science portfolio as part of a broader transaction between Danaher and Sartorius Group, SSB’s major shareholder. The total purchase price is approximately $750 million in cash of which about a quarter will be allocated to the businesses purchased by SSB. The final purchase price allocation will be subject to the closing process.
The businesses to be acquired by SSB had combined sales turnover of approximately $70 million in 2018 and strong double-digit profit margins. They employ approximately 110 people worldwide. The proposed transaction is expected to be completed in the first quarter of 2020 and is subject to customary closing conditions and the successful acquisition of the GE Biopharma business by Danaher.
“The portfolio proposed for acquisition represents an excellent strategic fit with Sartorius Stedim Biotech”, said SSB’s Chairman of the Board and CEO Dr. Joachim Kreuzburg. “With the chromatography hardware and resins and the microcarrier businesses we broaden our strong bioprocessing offering, particularly in the downstream area. We look very much forward to welcoming the new teams to Sartorius and to jointly combine our capabilities for the benefit of our biopharma and life science customers.”
The portfolio proposed to be acquired includes two businesses that are currently part of Danaher’s Life Science platform:
The chromatography business addresses an essential step in downstream bioprocessing and encompasses multi-use and single-use equipment as well as columns and resins. The business employs approximately 100 people at its sites in Europe and the US.
The SoloHill business includes mainly a microcarrier technology and particle validation standards used in cell culture and other bioprocesses. It is located in Ann Arbor, Michigan, US, and employs approximately 10 employees.