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In deal to be finalized by October, purchases B Medical Systems for $423 million
Azenta, Inc., a provider of life sciences solutions, has entered into a definitive agreement to acquire B Medical Systems and its subsidiaries, a manufacturer and distributor of medical refrigeration and vaccine cold chain technology, for approximately $423 million in cash. Additional cash consideration of up to $52 million could be paid upon achievement of certain future performance milestones. The deal is expected to close in October 2022.
B Medical’s portfolio features vaccine transport systems with real-time monitoring solutions, medical refrigeration for ambient to -86°C temperatures, and blood management solutions. The acquisition—Azenta says—complements the company’s cold chain capabilities, adding differentiated solutions for reliable and traceable transport of temperature-sensitive samples.
"We are excited to add B Medical into our growing portfolio of offerings," comments Steve Schwartz, president and CEO of Azenta. "B Medical has done an outstanding job carving out a strong market position in the vaccine cold chain, and we see a breadth of opportunities to drive even further value from the portfolio by leveraging the Azenta platform."