A Luxembourg medtech whose temperature controlled solutions proved a game-changer for vaccine storage and transport during the pandemic, has been bought out by Azenta Life Sciences.
With its state-of-the-art manufacturing site located in Hosingen, in the north of Luxembourg, B Medical Systems was created in 2015 when Navis Capital Partners took over the medical division of Dometic, itself a division of Electrolux.
In the past two years, B Medical has undergone considerable growth, expanding into India and North America.
On 8 August, the firm announced that Azenta had entered a definitive acquisition agreement for a closing cash price of €410m, a transaction that is expected to close in October 2022.
It added that an additional cash consideration, up to €50 million, may be paid upon achievement of agreed future performance milestones. The portfolio includes vaccine transport systems with real-time monitoring, medical refrigeration for temperatures ranging from ambient to -86°C, and blood management solutions.
“B Medical has done an outstanding job carving out a strong market position in the vaccine cold chain […]”Steve Schwartz, President and CEO of Azenta
Headquartered in Chelmsford, USA, Azenta provides sample exploration and management solutions to support discovery, development and delivery of life sciences products. It provides cold-chain sample management solutions and genomic services for areas including drug development, clinical research and advanced cell therapies for pharmaceutical, biotech, academic and healthcare institutions globally.
“We are excited to add B Medical into our growing portfolio of offerings,” Steve Schwartz, President and CEO of Azenta, said, adding: “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.”
B Medical CEO, Luc Provost, who has been with the company for over 20 years, and Jesal Doshi, Deputy CEO since 2015, will continue to lead the business. “We are excited to join the Azenta team as we combine our capabilities and expertise in cold chain solutions to drive the next leg of growth. Together, I look forward to continuing our mission to create technology that helps save lives across the world,” said Provost.