“B Medical Systems has done an outstanding job in building a strong position in the vaccine cold chain market, and we see a wide range of opportunities to generate even more value from the portfolio by leveraging the Azenta platform.” Like many others, Azenta CEO Steve Schwartz has seen the developments of the Luxembourg-based company during the covid-19 crisis. Last year, the American company recorded $1.2bn in revenues, up by 33%.
As of 30 June, B Medical Systems had generated €102m in annual revenues and was looking to grow through a buyout or a larger partnership. This goal was achieved on Tuesday 9 August with the joint announcement by the Luxembourg company and the US giant, one of the world's leading providers of life science solutions.
The €410m deal includes the state-of-the-art factory whose new extension was inaugurated by ministers Franz Fayot and Paulette Lenert last October. (Photo: Matic Zorman/Maison Moderne/Archives)
Azenta will put €410m on the table, plus €50 million with performance conditions to buy the company from Navis Capital Partners, which acquired it in 2015. The deal is expected to close in October. It includes the portfolio that contains the company's vaccine transport systems with real-time monitoring solutions, medical refrigeration for ambient temperatures down to -86°C and blood management solutions; an installed base of more than 500,000 units in 150 countries worldwide and the state-of-the-art, highly automated manufacturing facility.
Having led the company for 20 years, , and his deputy managing director since 2015, , are expected to join Azenta and continue to lead the acquired business. “I look forward to continuing our mission to create technology that helps save lives around the world,” commented Mr Provost.
This story was first published in French on . It has been translated and edited for Delano.