Grifols To Acquire Plasma-Fractionation Facility, Related Centers for $460 MBy
Grifols, a healthcare company specializing in plasma medicines, has agreed to acquire a plasma fractionation facility and two purification facilities in Montreal and 11 US-based plasma-collection centers from GC Pharma (formerly Green Cross Corporation), a Yongin, South Korean-based biopharmaceutical company, for $460 million.
The deal will make Grifols a large-scale commercial manufacturer of plasma products in Canada with a fractionation capacity of 1.5 million liters annually. Once the facilities are fully licensed and approved, Grifols plans to manufacture intravenous immunoglobulin and albumin in the facilities to supply the Canadian market starting in 2023.
As part of the transaction, by means of a plasma-supply agreement, Grifols has also committed to supplying certain output of plasma arising out of the Green Cross Collection Centers to Green Cross for a 24-month period (Green Cross Corporation updated its corporate brand as GC Pharma in early 2018; Green Cross Corporation remains the company’s registered, legal name). The collection centers achieved a collection volume of 350,000 liters of plasma in 2019.
The completion of the transaction is subject to regulatory approvals and is expected to close prior to the end of 2020.