Avantor to buy Indian biotech firm RFCL

Avantor Performance Materials has agreed to buy biotech firm RFCL from ICICI Venture Funds Management, the private equity arm of the Indian bank.

Avantor Performance Materials has agreed to buy biotech firm RFCL from ICICI Venture Funds Management, the private equity arm of the Indian bank. Headquartered in New Delhi, RFCL is specialises in laboratory reagents and consumables as well as products for the medical diagnostics market in India. Through its Rankem division, RFCL offers more than 20,000 laboratory products to more than 5,000 customers across a variety of industries including pharmaceuticals, biotech, research organisations and educational institutions. RFCL’s Diagnova division offers approximately 2,000 products used by more than 6,000 customers primarily in the Indian in vitro diagnostics, medical devices and life science research markets, which cater to hospitals, pathology laboratories and blood banks. Previously known as Mallinckrodt Baker, Avantor was acquired by an affiliate of New York private equity firm Mountain Capital in August. Avantor and its subsidiaries manufacture and market high-performance chem