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Sartorius Stedim Biotech to buy 3 Danaher life science businesses for $750M

Sartorius Stedim Biotech SA agreed to acquire three businesses from Danaher Corp.'s life science portfolio for about $750 million in cash.

The acquisition, which is part of a bigger transaction between Danaher and Sartorius Stedim parent Sartorius AG, will support the latter's positions in the bioanalytics and bioprocessing segments.

The businesses being acquired include Danaher's biomolecular characterization business, called FortéBio, its chromatography hardware and resins business and its microcarrier technology business, called SoloHill. The businesses had a combined sales turnover of about $140 million in 2018.

FortéBio, which develops protein analysis instruments, biosensors and reagents used in drug discovery will be integrated in Sartorius' bioanalytics unit, while the chromatography hardware and resins business will become part of Sartorius' bioprocess solutions division.

The proposed deal is expected to be completed in the first quarter of 2020, subject to certain conditions such as regulatory approvals. The transaction is also contingent on Danaher's acquisition of GE's biopharma business.

Sartorius AG is a Goettingen, Germany-based company developing pharmaceutical and laboratory equipment. Its unit Sartorius Stedim Biotech is a France-based seller of instruments and consumables for the biopharmaceutical industry.