Azenta's Enhances Position in Cold Chain Solutions With €410M Acquisition

Azenta Inc AZTA has agreed to acquire B Medical Systems S.á r.l and its subsidiaries for approximately €410 million.
Additional cash consideration, up to €50 million, may be paid upon achievement of certain future performance milestones.
The transaction is expected to close in October 2022.
B Medical offers temperature-controlled storage and transportation solutions.
Also Read: Azenta Shares Plunge After Q3 Preliminary Results.
The portfolio includes vaccine transport systems with real-time monitoring solutions, medical refrigeration for ambient to -86°C temperatures, and blood management solutions.
B Medical has an installed base of more than 500,000 units spanning approximately 150 countries.
The acquisition complements Azenta's cold chain capabilities, adding differentiated solutions for reliable and traceable transport of temperature-sensitive specimens.
B Medical generated approximately €109 million in revenue over the past twelve months ending June 30, 2022.
The management expects the acquisition to be accretive to non-GAAP earnings in FY23 and GAAP earnings in FY24.
Price Action: AZTA shares closed at $69.01 on Monday.

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