Comprehensive M&A data with integrated detailed company information
BioTek considering USD 1bn sale: Bloomberg
Posted on Wednesday, 10 April 2019 10:55
BioTek Instruments is exploring a range of strategic alternatives, including a potential sale that could value the US medical device manufacturer at around USD 1.00 billion, Bloomberg reported.
Citing people familiar with the matter, the news provider observed that both industry players and private equity firms have expressed preliminary interest in the company.
BioTek is privately- and family-held and makes cell-imaging systems, test-tube plate readers, incubators and other instruments, as well as software for life sciences research and drug discovery.
The group will continue with its deliberations, with sources close to the situation cautioning that a final decision has not yet been made and there can be no guarantee the process will lead to a deal.
Insiders asked not to be named as the matter is still private, while Julie Bond, senior marketing operations manager at BioTek, told Bloomberg the company regularly receives inquiries from potential buyers, but it is not policy to comment on market rumours.
Last year, the business partnered with Agilent Technologies to provide a new kind of cellular analysis system.
BioTek has operations in the US, China, Germany, India, South Korea and Taiwan, among other locations.
According to Zephyr, the M&A database published by Bureau van Dijk, there were 1,087 deals worth an aggregate USD 36.82 billion targeting the medical equipment and supplies manufacturing industry announced worldwide in 2018.
This represented an improvement in terms of volume and a significant decline by value from 878 deals valued at a combined USD 86.04 billion in 2017, which was the highest-recorded since 2014 (USD 150.57 billion).
So far in in 2019, Zephyr shows there have been 201 deals signed off in the sector. The largest to date is worth USD 2.00 billion and involves Fresenius Medical Care Holdings picking up US kidney failure medical device maker NxStage Medical.
Netherlands-based DORC Dutch Ophthalmic Research Center, Straumann Holding of Switzerland and US-headquartered MyoScience, among others, have also been targeted in the year to date.
© Zephus Ltd