Immucor Acquired by TPG Capital
Immucor, Inc. announced yesterday that it has entered into a definitive agreement to be acquired by TPG Capital for $27.00 per share valuing the deal at $1.97 billion. Acquisitions in the clinical diagnostic and life science segments are continuing their high level of activity as the year progresses.
Immunocor, Inc., one of the few global leaders in automated blood typing systems and reagents announced that it will be acquired by TPG Capital. Immunocor is known worldwide for its line of automated blood typing and antibody screening systems and reagents prior to transfusion. Immunocor is one of just a few companies responsible for automating hospital transfusion centers, blood donor centers and large clinical laboratories.
TPG Capital is no stranger to healthcare company investing. Some of its past healthcare investments have included companies such as Fenwal, Biomet, IMS Health, Quintiles Transnational and several others.
The acquisition activity in virtually all of the clinical diagnostics and life science segments is continuing its rapid pace that began earlier in the year. Thermo Fisher recently acquired Phadia from private investment company Cinvin earlier this year for $3.5 billion. Cinvin purchased Phadia for a mere $2 billion in 2007. Gen-Probe, one of the few pure play molecular diagnostics companies put itself up for sale in April and other companies are enjoying the benefits of this flurry of acquisition activity by seeing their stock prices rise.
According to Bloomberg, there were 76 completed or announced acquisitions in the US clinical diagnostics market during the past three years. Acquisition prices have been in the range of three to six times sales. The acquiring companies have included integrated companies such as Danaher, private investment firms, leading commercial reference labs such as Quest Diagnostics and Laboratory Corp of America Holdings , pharmaceutical companies such as Novartis, GE’s Healthcare business and others.
For more information on the companies mentioned above and the high level of acquisition activity in the $55 billion dollar global clinical diagnostics market please contact your GLG representative today and schedule an individual consult.
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