Sartorius Corporation Acquires IntelliCyt for $90 Million in Cash
• Acquisition expands portfolio of Lab Products & Services division
• Unique technology for cell analysis in Biopharma applications
• Strongly growing platform in an attractive market
June 28, 2016 08:15 AM Eastern Daylight Time
GOETTINGEN, Germany--(BUSINESS WIRE)--Sartorius, a leading international pharmaceutical and laboratory equipment provider, today announced the acquisition of U.S. based IntelliCyt Corporation, an award-winning innovator and manufacturer of novel cell screening platforms used in drug discovery. Through the acquisition, Sartorius expands its current lab portfolio into bio analytics, thus substantially strengthening its offering for biopharma customers and academia.
Sartorius purchased IntelliCyt for $90 million in cash, which includes approx. $5 million in future tax savings. The company focuses on pharma, biotech and academic customers, and achieved strong double-digit annual growth during the past few years. Based in Albuquerque, New Mexico, USA, IntelliCyt currently employs 55 people and is expected to generate sales revenues of more than $18 million in 2016 (2015: $13.4 million) and to break even on underlying EBITDA by year-end 2017.
“Novel cell screening methods are crucial to enable scientific progress in the fast-expanding research areas of immuno-oncology, antibody discovery and immune targets. IntelliCyt has developed a powerful platform that integrates instruments, reagents and software seamlessly across the workflow. This is a great addition to our laboratory products portfolio”, said Joachim Kreuzburg, CEO of Sartorius.
Welcoming the transaction, R. Terry Dunlay, the founder, President and CEO of IntelliCyt, said, “By coupling the global market presence and strong infrastructure of Sartorius with IntelliCyt’s enabling cell analysis platform, we will be better able to deliver value to our customers, further penetrate our core markets, and grow the business to the next level.”
This press release contains statements about the future development of the Sartorius Group. The content of these statements cannot be guaranteed as they are based on assumptions and estimates that harbor certain risks and uncertainties.
A Profile of Sartorius
The Sartorius Group is a leading international pharmaceutical and laboratory equipment provider with two divisions: Bioprocess Solutions and Lab Products & Services. Bioprocess Solutions with its broad product portfolio focusing on single-use solutions helps customers produce biotech medications and vaccines safely and efficiently. Lab Products & Services, with its premium laboratory instruments, consumables and services, concentrates on serving the needs of laboratories performing research and quality assurance at pharma and biopharma companies and on those of academic research institutes. Founded in 1870, the company earned sales revenue of more than 1.1 billion euros in 2015. More than 6,200 people work for the Group, which has its own manufacturing and sales sites in around 110 countries.
A Profile of IntelliCyt
IntelliCyt Corporation manufactures and sells integrated instrumentation, software and reagent solutions that facilitate the study of cells and their components to gain a better understanding of normal and disease processes. This information speeds the discovery and development of new drugs and provides new insight for the diagnosis of diseases. IntelliCyt’s products are used worldwide throughout the pharmaceutical and biotechnology industries and in academic research labs.
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