DHR to Acquire Life Sciences Instrumentation Businesses from MDS Inc. and Life Technologies Corp
News Sep 04, 2009
Danaher Corporation has announced that it has signed a definitive agreement with MDS Inc. to acquire the Analytical Technologies division of MDS, which includes a 50% ownership position in Applied Biosystems/MDS Sciex joint venture (AB SCIEX), a mass spectrometry business, and a 100% ownership position in the former Molecular Devices Corporation, a bioresearch and analytical instrumentation company.
In a separate, but related transaction, Danaher also announced that it has signed a definitive agreement with Life Technologies Corporation to acquire the remaining 50% ownership position in AB SCIEX. After completion of both transactions, Danaher will own outright AB SCIEX and Molecular Devices. The aggregate purchase price for the combined transactions is $1.1 billion, including debt assumed and net of cash acquired.
Typical applications include proteomics research, drug development, food and environmental safety testing and diagnostics testing. Customers include academic and research institutions, pharmaceutical development labs primarily supporting clinical trials, testing and reference labs and hospitals. Molecular Devices supplies high-performance bio-analytical instrumentation systems and consumables that accelerate and improve research productivity and effectiveness in life science research and drug discovery.
The acquired businesses will operate within Danaher’s Medical Technologies segment, joining Danaher’s Leica, Radiometer, Sybron, and KaVo businesses, and will expand the segment’s annual revenues by more than $650 million. The acquired businesses will increase Danaher’s life sciences and diagnostics annual revenues to more than $2 billion.