The acquisition of B Medical Systems is expected to bolster Azenta's position in cold chain solutions and end-to-end sample management
US-based life sciences solutions provider Azenta has signed a definitive agreement to acquire B Medical Systems and its subsidiaries for approximately €410m.
B Medical Systems provides temperature-controlled storage and transportation solutions globally to enable the delivery of life-saving treatments.
The transaction includes payment of additional cash consideration of up to €50m upon achievement of certain future performance milestones. It is expected to close in October this year.
The acquisition of B Medical will help Azenta enhance its cold chain capabilities by adding distinct solutions for the safe and traceable transportation of temperature-sensitive specimens.
Based in Hosingen, Luxembourg, B Medical serves emerging markets that require solutions for safe and dependable temperature-controlled storage and transportation.
The company’s portfolio comprises blood management solutions, medical refrigeration for ambient to -86°C temperatures, and vaccine conveyance systems with real-time monitoring options.
More than 500,000 devices from B Medical have been deployed in about 150 different nations throughout the world.
Azenta president and CEO Steve Schwartz said: “We are excited to add B Medical into our growing portfolio of offerings.
“B Medical has done an outstanding job carving out a strong market position in the vaccine cold chain, and we see a breadth of opportunities to drive even further value from the portfolio by leveraging the Azenta platform.”
B Medical reported revenue of about €109m for the 12 months that ended on 30 June 2022.
The management anticipates the deal to increase non-GAAP earnings in the fiscal year 2023 and GAAP earnings in the fiscal year 2024.
B Medical CEO Luc Provost said: “We are excited to join the Azenta team as we combine our capabilities and expertise in cold chain solutions to drive the next leg of growth.
“Together, I look forward to continuing our mission to create technology that helps save lives across the world.”