ATMI Announces Agreement to Sell LifeScienc?es Business to Pall Corporatio?n
ATMI, Inc., a global technology company and leader in single-use bioprocess solutions, has reached agreement with Pall Corporation to sell ATMI LifeSciences in a transaction valued at $185 million.
The transaction includes all assets associated with the LifeSciences business, including two locations in Belgium plus a shared facility in Minnesota. ATMI expects the transaction to close during the first quarter of 2014, subject to applicable regulatory approvals and customary closing conditions. After tax cash proceeds from the transaction are expected to be approximately $165 million.
"We are very happy to have Pall as the new owner of this business, and believe the fit with Pall's capabilities will accelerate its growth and provide great customer support," said Chief Executive Officer, Doug Neugold. "This transaction, a result of our ongoing exploration of strategic alternatives, also has the effect of realising significant value for our shareholders."
"The combination of ATMI LifeSciences and Pall will provide leading technology to serve the bioprocessing industry," added Senior Vice President and General Manager of ATMI LifeSciences, Mario Philips. "I'm extremely excited about joining forces with an outstanding organisation such as Pall Corporation and the expanded opportunities this will provide to our customers."
Barclays Capital is acting as financial advisor and Weil, Gotshal & Manges LLP is acting as legal advisor to ATMI in connection with this transaction.
Related News
-
News Patients vs Pharma – who will the Inflation Reduction Act affect the most?
The Inflation Reduction Act brought in by the Biden administration in 2022 aims to give better and more equitable access to healthcare in the USA. However, pharma companies are now concerned about the other potential costs of such legislation. -
News CPHI Podcast Series: What does the changing US Pharma market mean for industry and patients alike?
In this week's episode of the CPHI Podcast Series Lucy Chard, Digital Editor for CPHI Online is joined by James Manser to discuss the political and market changes in the US pharma field. -
News CPHI Barcelona Annual Report illuminates industry trends for 2024
The CPHI Annual Survey comes into it’s 7th year to report on the predicted trends for 2024. Over 250 pharma executives were asked 35 questions, with their answers informing the industry landscape for the next year, spanning all major pharma marke... -
News Which 10 drugs are open to price negotiation with Medicare in the USA?
The Centres for Medicare & Medicaid Services, under the Biden administration in the USA, has released a list of the 10 drugs that will be open to price negotiations as part of the new legislation under the Inflation Reduction Act (IRA). -
News EU Medical Devices Regulation causes unintended disappearances of medical devices for children, doctors state
Doctor groups and associations have appealed to the EU to correct the EU Medical Devices Regulation law that may cause unintended shortages of essential drug and medical devices for children and rare disease patients. -
News 10 Major Drug Approvals So Far in 2023
Last year, 37 novel drugs were approved by the FDA, this was a high number for such a category, and covered many fields including oncology, demonstrating how promising further research is, and how it is only continuing to build. To date, there are alre... -
News Detecting Alzheimer's disease with a simple lateral flow test
A novel rapid diagnostic test for early-stage Alzheimer's disease has been developed using a biomarker binder from Aptamer Group along with technology from Neuro-Bio, the neurodegenerative disease experts. -
News CPHI Podcast Series: outsourcing and manufacturing trends
Listen to the CPHI Podcast Series this June to hear Gil Roth of the PBOA speak with Digital Editor Lucy Chard about the biggest trends and topics to watch in pharma outsourcing and manufacturing at the minute.
Position your company at the heart of the global Pharma industry with a CPHI Online membership
-
Your products and solutions visible to thousands of visitors within the largest Pharma marketplace
-
Generate high-quality, engaged leads for your business, all year round
-
Promote your business as the industry’s thought-leader by hosting your reports, brochures and videos within your profile
-
Your company’s profile boosted at all participating CPHI events
-
An easy-to-use platform with a detailed dashboard showing your leads and performance