Press release Gothenburg, Sweden, on January 3, 2020
Getinge completes acquisition of Applikon Biotechnology B.V.
Getinge has today completed the previously announced acquisition of 100% of the shares in Applikon Biotechnology B.V. from Applikon Biotechnology Holding B.V..
On December 20, 2019, Getinge announced an agreement to acquire Applikon Biotechnology B.V., a leading company in the development and supply of advanced bioreactor systems for the research and production of vaccines and antibodies in the biopharmaceutical industry, as well as enzymes and bio-plastics for industrial biotechnology.
All conditions for the transaction and closing have now been fulfilled. The transaction was completed today with effect as from January 1st, 2020. As previously announced, Getinge have paid approximately SEK 840 M (EUR 80 M) in cash on closing for 100 % of the shares. In addition, a maximum earn out of approximately SEK 630 M (EUR 60 M) can be paid out in 2021-2022 if agreed earnings performance is achieved in 2020-2021. The acquisition will be financed through debt and the net debt to EBITDA ratio is expected to be impacted by 0.2x at closing of deal. Getinge expects no material integration costs in 2020-2021.
Long-term, Applikon Biotechnology B.V. is expected to bring a material contribution to Getinge’s Life Science business area in terms of net sales and EBITA. Getinge’s Life Science business performed SEK 2.3 B in net sales and SEK 293 M in EBITA Q4 2018-Q3 2019. For Getinge, the acquisition is not expected to have a material impact on operating profit and earnings per share as of 2020. The acquisition broadens Getinge’s position further within solutions for efficient, safe and contamination-free research and production processes in the biopharma segment.
For more information about Applikon Biotechnology B.V.: www.applikon-biotechnology.com
To read the press release from December 20, 2019, click here or visit www.getinge.com.
Media contact:
Lars Mattson, Head of Investor Relations
Tel: +46 (0)10 335 0043
Email: lars.mattsson@getinge.com
Jeanette Hedén Carlsson, EVP Communication & Academy
Tel: +46 (0)10 335 1003
Email: jeanette.hedencarlsson@getinge.com
About Getinge
With a firm belief that every person and community should have access to the best possible care, Getinge provides hospitals and life science institutions with products and solutions that aim to improve clinical results and optimize workflows. The offering includes products and solutions for intensive care, cardiovascular procedures, operating rooms, sterile reprocessing and life science. Getinge employs over 10,000 people worldwide and the products are sold in more than 135 countries.