Azenta's Enhances Position in Cold Chain Solutions With €410M Acquisition

  • Azenta Inc AZTA has agreed to acquire B Medical Systems S.á r.l and its subsidiaries for approximately €410 million. 
  • Additional cash consideration, up to €50 million, may be paid upon achievement of certain future performance milestones.
  • The transaction is expected to close in October 2022.
  • B Medical offers temperature-controlled storage and transportation solutions.
  • Also Read: Azenta Shares Plunge After Q3 Preliminary Results.
  • The portfolio includes vaccine transport systems with real-time monitoring solutions, medical refrigeration for ambient to -86°C temperatures, and blood management solutions. 
  • B Medical has an installed base of more than 500,000 units spanning approximately 150 countries.
  • The acquisition complements Azenta's cold chain capabilities, adding differentiated solutions for reliable and traceable transport of temperature-sensitive specimens. 
  • B Medical generated approximately €109 million in revenue over the past twelve months ending June 30, 2022. 
  • The management expects the acquisition to be accretive to non-GAAP earnings in FY23 and GAAP earnings in FY24.
  • Price Action: AZTA shares closed at $69.01 on Monday.
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