Getinge has completed the previously announced acquisition of 100% of the shares in High Purity New England, Inc.
On May 31, 2023, Getinge announced an agreement to acquire High Purity New England, Inc., a leading US-based company in the fast-growing areas of custom single-use solutions for bioprocessing applications.
All conditions for the transaction and closing have now been fulfilled. The transaction was completed today. Getinge has paid approximately SEK 1,330 M (USD 120 M) in cash on closing, on a cash and debt free basis for 100 % of the shares. In addition, a maximum earn out of approximately SEK 1,880 M (USD 170 M) can be paid out during 2024 - 2026 if agreed net revenue performance milestones are achieved in 2023 - 2025. The acquisition will be financed through cash at hand. Getinge expects to have fully integrated High Purity New England by the end of 2024 and anticipates no material integration costs in 2023 - 2024. The acquisition is not expected to have a material impact on Getinge’s operating profit and earnings per share in 2023.
High Purity New England (HPNE) offers a comprehensive range of proprietary and distributed products from drug discovery, upstream and downstream processing, to fill-and-finish. HPNE’s products assist leading biopharmaceutical and biotechnology players in the production of monoclonal antibodies, vaccines, cell and gene therapies and other next-generation therapies.