AUBAGNE, France, April 30, 2020 /PRNewswire/ -- Sartorius Stedim Biotech (SSB), a leading partner of the biopharma industry, successfully closed the acquisition of selected life science businesses of Danaher Corporation as part of a broader transaction between Danaher and Sartorius Group, SSB's major shareholder. The transaction was completed on April 30, 2020 after receiving the required regulatory approvals.
"The acquisition of this portfolio is a further milestone for Sartorius Stedim Biotech. The assets we purchased are an excellent strategic and operational fit. We are very pleased to welcome approximately 100 new employees at Sartorius Stedim Biotech and to combine our expertise to become even more relevant together for our biopharma customers," said Dr. Joachim Kreuzburg, CEO of Sartorius Stedim Biotech.
The total purchase price of the transaction between Danaher and Sartorius Group is 825 million U.S. dollars of which about a third will be allocated to the businesses purchased by Sartorius Stedim Biotech. Upon execution of the purchase agreement on October 19, 2019, SSB has been preparing for integration of the acquired businesses. Despite the special conditions prevailing during the pandemic crisis, integration can therefore be initiated immediately following the closing.
The businesses acquired by Sartorius Stedim Biotech generated revenue of approximately 100 million U.S. dollars in 2019 and cover various bioprocessing technologies, which are complementary to the portfolio lineups. The company's broader offering as a result of the acquisition will support customers even more comprehensively in the safe and efficient production of such pharmaceuticals. Sartorius Stedim Biotech is thus extending its market position in key areas of the manufacture of biotech medications.
With the chromatography systems and resins business acquired, Sartorius Stedim Biotech is expanding the portfolio in the downstream processing area. This business addresses an essential step in the purification of biopharmaceuticals and encompasses both reusable and single-use equipment, columns and resins. Furthermore selected product groups in the areas of stainless steel hollow fiber and single-use technology tangential flow filtration systems and single-use flow kits will additionally strengthen the portfolio lineup in downstream processing. A further asset is the SoloHill business covering a microcarrier technology and particle validation standards used in cell cultures and other bioprocesses. Together, these various business entities employ approximately 100 people at their sites in Portsmouth, U.K.; Cergy, France; Ann Arbor, Michigan, USA; and Hopkinton, Massachusetts, USA.
Sartorius Stedim Biotech already provided information on the ramifications of this transaction on its financial forecast for the current year in its first-quarter earnings release of April 21, 2020. You will find this publication here at https://www.sartorius.com/en/company/newsroom.
This press release contains forward-looking statements about the future development of Sartorius Stedim Biotech. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such statements. Sartorius Stedim Biotech assumes no liability for updating such statements in light of new information or future events. This is a translation of the original French-language press release. Sartorius Stedim Biotech shall not assume any liability for the correctness of this translation. The original French press release is the legally binding version.
A profile of Sartorius Stedim Biotech
Sartorius Stedim Biotech is a leading international partner of the biopharmaceutical industry. As a total solutions provider, the company helps its customers to manufacture biotech medications safely, rapidly and economically. Headquartered in Aubagne, France, Sartorius Stedim Biotech is quoted on the Eurolist of Euronext Paris. With its own manufacturing and R&D sites in Europe, North America and Asia and an international network of sales companies, Sartorius Stedim Biotech has a global reach. The Group has been annually growing by double digits on average and has been regularly expanding its portfolio by acquisitions of complementary technologies. In 2019, the company employed approximately 6,200 people, and earned sales revenue of 1,440.6 million euros.
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SOURCE Sartorius Stedim Biotech S.A.