Werfen, a global leader in specialised diagnostic instruments, has completed its $2 billion acquisition of Immucor, Inc, a specialist in transfusion and transplant in vitro diagnostics, from private equity firm TPG. The deal was financed with a mix of cash on hand and new senior credit facilities, and was subject to customary regulatory approvals.
With the acquisition of Immucor, Werfen has expanded its portfolio of specialised diagnostic solutions for hospitals and clinical laboratories. The company now has seven technology centres, a direct presence in over 30 countries, and employs over 7,000 people worldwide. The addition of Immucor's transfusion and transplant product lines compliments Werfen's existing hemostasis, acute care, and autoimmunity business lines.
Werfen's CEO, Carlos Pascual, stated that the acquisition is a demonstration of the company's strong commitment to expanding its IVD business through organic growth and strategic acquisitions. Werfen has a long history of successfully acquiring and integrating companies that align with its growth strategy.
The acquisition was financed by a combination of cash on hand and bank debt facilities syndicated by 19 national and international entities, including BBVA, BNP Paribas, CaixaBank, and HSBC. Werfen plans to refinance part of the debt in the capital markets and quickly reduce its level of indebtedness as part of its credit management.
The completion of this acquisition is a significant milestone for Werfen as it solidifies its position as a company of reference in the specialised diagnostics market. Werfen is well-positioned to continue its growth trajectory through a combination of organic growth and strategic acquisitions that expand its portfolio of specialised diagnostic solutions for hospitals and clinical laboratories.
Written by: Siya Goyal
Sources: ladmedica.com, privateequitywire.co.uk, labpulse.com
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