Washington, DC 2/25/19; Washington, DC 2/26/19; Boston, MA 2/25/19-Science and technology company Danaher has agreed to acquire GE's BioPharma business in a deal valued at $21.4 billion (see Danaher to Become Major Player in Bioprocessing Market). The company will pay $20 billion in cash and finance the purchase through existing cash and debt, as well as new debt. Danaher will also assume $4 million in GE pension liabilities. Part of GE Healthcare's Life Sciences division, the BioPharma business generated 2018 sales of $3 billion, a 7.1% increase, and $1.1 billion in EBITDA. The business supplies process chromatography solutions, cell culture media, single-use technologies, instruments and consumables for drug development, and services. "GE Biopharma is renowned for providing best-in-class bioprocessing technologies and solutions," commented Danaher President and CEO Thomas P. Joyce, Jr. "This acquisition will bring a talented and passionate team as well as a highly innovative, industry leading product suite to our Life Sciences portfolio, providing an excellent complement to our current biologics workflow solutions."
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