Sartorius To Acquire Danaher Life Sciences Platform Businesses for $750 Million
As part of its pending $21.4-billion acquisition of GE’s Biopharma business, Danaher Life Sciences, a science and technology company, has agreed to sell select businesses in its life-science platform to Sartorius Stedim Biotech (SSB) for approximately $750 million.
Danaher is divesting the businesses as a step toward obtaining regulatory approval for its pending $21.4-billion acquisition of the GE Biopharma business, a deal that was announced earlier this year (February 2019). The closing of the Sartorius agreement is conditioned upon Danaher’s closing its acquisition of the GE Biopharma business, customary closing conditions, and approvals from various regulatory authorities.
The divestments include Danaher’s label-free biomolecular characterization, chromatography hardware and resins and microcarriers and particle-validation standards businesses, which are currently part of Danaher’s Life Science platform. The chromatography business addresses downstream bioprocessing and includes multi-use and single-use equipment as well as columns and resins. It employs about 100 people at sites in Europe and the US. The SoloHill business includes microcarrier technology and particle-validation standards used in cell culture and other bioprocesses. It is located in Ann Arbor, Michigan and employs about 10 people.
The combined revenue of the businesses, which are part of Danaher’s Life Sciences segment, was approximately $140 million in 2018, according to information from Danaher.
The companies expect the proposed transaction to be completed in the first quarter of 2020.