Azenta Inc. has announced its agreement to acquire B Medical Systems, a market leader in temperature-controlled storage and transportation solutions.
In an exciting development, Azenta has confirmed that it has entered into a definitive agreement to acquire B Medical Systems S.á r.l and its subsidiaries (“B Medical”). B Medical Systems offers state-of-the-art temperate-controlled storage and transportation solutions, enabling the delivery of medical treatments across the world.
The cash purchase price to be paid at closing will be approximately €410 million with an additional cash consideration, up to €50 million, which may be paid upon achievement of certain future performance milestones.
The transaction is expected to close in October 2022.
Expanding Azenta’s cold chain offering
The new acquisition will complement Azenta’s cold chain capabilities, adding a wider range of solutions to continue to deliver reliable and traceable transport of temperature-sensitive specimens.
“We are excited to add B Medical into our growing portfolio of offerings,” said Steve Schwartz, President and CEO of Azenta. “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 Systems CEO Luc Provost, who has been with the company for over 20 years, and Jesal Doshi, Deputy CEO since 2015, are expected to join Azenta and continue to lead the business.
Provost commented, “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.”
Read the full press release from Azenta
Read the press release from Navis Capital Partners