Danaher (NYSE:DHR) announced that it entered into a definitive agreement to acquire Aldevron for approximately $9.6 billion.
Fargo, N.D.-based Aldevron, which employs approximately 600 people, manufactures high-quality plasmid DNA, mRNA and proteins to serve biotechnology and pharmaceutical customers across research, clinical and commercial applications.
According to a news release, Aldevron will operate as a standalone operating company and brand within Danaher’s life sciences business segment.
“We are thrilled to have Aldevron join Danaher’s life sciences segment. For nearly 25 years, Aldevron has made tremendous contributions to the advancement of cell, gene and other novel therapies and vaccines,” Danaher president & CEO Rainer M. Blair said in the release. This acquisition will expand our capabilities into the important field of genomic medicine and help us support our customers and their critical mission to bring more life-saving therapies and vaccines to market faster.”
Danaher expects to finance the $9.6 billion acquisition using cash on hand and/or proceeds from the issuance of commercial paper. The transaction is subject to customary conditions, including the receipt of applicable regulatory approvals.
“Joining Danaher will help us expand our global reach and harness the power of the Danaher business system to continue supporting our customers with best-in-class products and services,” Aldevron founder & executive chairman Michael Chambers said. “I’m incredibly excited for Aldevron to take this pivotal next step with Danaher and look forward to the tremendous impact we can make together in the expanding area of genomic medicine.”
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