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Grifols acquires Novartis’ diagnostic unit for $1.68 billion

Posted on 12 November 2013

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Grifols Diagnostic Division acquires Novartis  transfusion diagnostics unit for $1.68 billion.

The assets acquired include in vitro diagnostic products and technology for transfusion medicine and immunology, a manufacturing plant in the USA and commercial offices in United States, Switzerland and Hong Kong.

Grifols' Diagnostic Division will account for over 20% of the company's sales.

The transaction´s financing is fully underwritten, in the form of a US$1.5 billion bridge loan fully subscribed in equal parts by Nomura, BBVA and Morgan Stanley.

Grifols and Novartis have signed a definitive agreement whereby Grifols acquires the transfusion diagnostics unit of Novartis for a total amount of US$1,675 million (1,240 million).

The transaction is part of Grifols' growth strategy of complementing its range of plasma protein therapies with other diagnostic products and services (Diagnostic Division).

The transaction will be structured through Grifols' Diagnostic Division and a newly created 100% Grifols-owned subsidiary.

Grifols' Diagnostic Division manufactures and develops instrumentation and reagents in three fields: transfusion medicine, immunology and hemostasis.

Novartis Diagnostic business is focused on creating innovative solutions to increase transfusion safety and improve medical outcomes, including preventive screening and the prediction of health outcomes.

Read the full article at Biospace

 

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