Azenta, Inc. (Nasdaq: AZTA), a Chelmsford, MA-based provider of life sciences solutions worldwide, entered into a definitive agreement to acquire B Medical Systems S.á r.l and its subsidiaries (“B Medical”), a Hosingen, Luxembourg-based market leader in temperature-controlled storage and transportation solutions that enables the delivery of life-saving treatments across the globe.
The cash purchase price to be paid at closing will be approximately €410 million. Additional cash consideration, up to €50 million, may be paid upon achievement of certain future performance milestones. The transaction is expected to close in October 2022.
This acquisition complements Azenta’s cold chain capabilities, adding differentiated solutions for reliable and traceable transport of temperature-sensitive specimens.
B Medical is one of the leading vaccine cold chain providers serving primarily fast-growing emerging markets, which require secure and reliable temperature-controlled storage and transport solutions. The portfolio includes vaccine transport systems with real-time monitoring solutions, medical refrigeration for ambient to -86°C temperatures, and blood management solutions. B Medical has an installed base of more than 500,000 units spanning approximately 150 countries across the globe. The Luxembourg headquarters includes a state-of-the-art, highly automated manufacturing facility. B Medical generated approximately €109 million in revenue over the past twelve months ending June 30, 2022. Management expects the acquisition to be accretive to non-GAAP earnings in fiscal year 2023 and accretive to GAAP earnings in fiscal year 2024.
CEO Luc Provost, and Jesal Doshi, Deputy CEO since 2015, are expected to join Azenta and continue to lead the business.
Led by Steve Schwartz, President and CEO, Azenta provides a full suite of reliable cold-chain sample management solutions and genomic services across areas such as drug development, clinical research and advanced cell therapies for the industry’s top pharmaceutical, biotech, academic and healthcare institutions globally.
FinSMEs
08/08/2022