Artesyn Biosolutions is being snapped up by US-headquartered Repligen, following two other manufacturing acquisitions.
Repligen Corporation announced last week that it is acquiring Irish biotech Artesyn Biosolutions for approximately $200m.
The deal, announced on 27 October, comprises about $130m in cash and around $70m in Repligen common stock.
Headquartered in Massachusetts, Repligen is a global life sciences brand. The Nasdaq-listed company develops and commercialises bioprocessing technologies and systems for the manufacture of biopharmaceuticals.
Privately-held Artesyn manufactures single-use solutions for biopharma processing at its headquarters in Waterford. Late last year, the company invested €1m in its manufacturing and clean room facilities, with plans to add 50 new roles at its base in Six Cross Roads Business Park.
‘We are at a point now where we need to scale again and believe Repligen is the best partner to grow with’
– MICHAEL GAGNE
With additional locations in the US and Estonia, Artesyn has created a number of single-use solutions for the biopharma industry including single-use chromatography and filtration systems for downstream bioprocessing.
Artesyn’s growth was driven by increase in demand for these components and systems, and Repligen’s statement on the acquisition projects that the Irish company will generate around $30m in revenue this year.
“We have made tremendous progress over the last four years as we introduced automated, highly efficient chromatography and filtration systems with unique flow path designs,” said Artesyn founder and chief experience officer Michael Gagne.
“We are at a point now where we need to scale again and believe Repligen is the best partner to grow with. We look forward to driving expanded, global adoption of our products, and continuing to advance innovative single-use systems and flow paths as gold standards in the industry.”
Repligen’s acquisition spree
The Artesyn acquisition is expected to be completed during the fourth quarter of 2020.
Repligen also recently acquired Engineered Molding Technologies and Non-Metallic Solutions in its bid to become a leader in single-use systems and associated integrated flow path assemblies.
Artesyn has made use of Engineered Molding Technologies’ silicone extrusion and moulding technology in its flow path assemblies, to deliver its products and minimise loss during processing. Non-Metallic Solutions, another Massachusetts company, specialises in plastic fabrication, assembly, standard thermoplastic tanks, as well as rotational moulding (rotomoulding). It is expected to contribute approximately $5m to Repligen’s revenue in 2021
“The addition of Artesyn Biosolutions and Non-Metallic Solutions further strengthens our systems offering,” said Tony J Hunt, president and CEO of Repligen.
“The Artesyn portfolio expands on the market success of our hollow fibre systems and complements our market-leading chromatography and [tangential-flow] filtration product lines. We are excited to welcome the Artesyn Biosolutions and the Non-Metallic Solutions teams to Repligen and we look forward to further developing and integrating their highly differentiated single-use solutions into our portfolio.”