GE Healthcare Acquires PAA Laboratories GmbH in a bid to reinforce and strengthen biopharmaceutical manufacture segment of the company.
The company announced today that they have entered a definitive agreement to acquire PAA Laboratories for an undisclosed amount.
“The acquisition of PAA Laboratories is a significant step forward for our Life Sciences business and for biopharmaceutical manufacturing globally,” said Kieran Murphy, President and CEO of GE Healthcare Life Sciences. “GE Healthcare Life Sciences is well known for its expertise in the “downstream” processes of biopharmaceutical manufacturing. Adding “upstream” capabilities will enable us to provide an end-to-end, fully integrated service to our customers. We believe that an integrated approach, where we can help customers optimize every stage of their manufacturing process, has the potential to reduce cost of entry, deliver higher yields of finished product and reduce time to market.”
“The acquisition of PAA Laboratories is a significant step forward for our Life Sciences business and for biopharmaceutical manufacturing globally,” said Kieran Murphy, President and CEO of GE Healthcare Life Sciences. “GE Healthcare Life Sciences is well known for its expertise in the “downstream” processes of biopharmaceutical manufacturing. Adding “upstream” capabilities will enable us to provide an end-to-end, fully integrated service to our customers. We believe that an integrated approach, where we can help customers optimize every stage of their manufacturing process, has the potential to reduce cost of entry, deliver higher yields of finished product and reduce time to market.”
Lastly, GE Healthcare noted that assuming regulatory concerns pass without a hitch that the acquisition is to close during Q3, 2011.
