GOTTINGEN, Germany, March 20, 2020 /PRNewswire/ -- On March 18 and March 19, 2020 respectively, the European Commission and the U.S. Federal Trade Commission cleared the proposed acquisition of select Danaher businesses by Sartorius. Both approvals are an important milestone for the transaction originally announced in October 2019, the completion of which is still subject to clearance by the Chinese antitrust enforcement authority of Sartorius as the buyer of the assets. The transaction is now expected to close in the second quarter of 2020.
The businesses to be acquired are part of Danaher's Life Sciences platform and include various laboratory and bioprocessing technologies that are complementary to the portfolios of both Sartorius divisions. Pursuant to conditions set by the antitrust authorities, the portfolio of businesses to be acquired was expanded to include certain businesses associated with single-use tangential flow filtration systems (including flow kits) and stainless steel hollow fiber tangential flow filtration systems. These businesses will ultimately be a part of the Sartorius Bioprocess Solutions Division. Due to this expanded scope, the purchase price was increased by around 75 million U.S. dollars to approximately 825 million U.S. dollars. In 2019, sales for the entire portfolio were approximately 170 million U.S. dollars.
This press release contains forward-looking statements about the future development of the Sartorius Group. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such statements. Sartorius assumes no liability for updating such statements in light of new information or future events. This is a translation of the original German-language press release. Sartorius shall not assume any liability for the correctness of this translation. The original German press release is the legally binding version.
A profile of Sartorius
The Sartorius Group is a leading international partner of life science research and the biopharmaceutical industry. With innovative laboratory instruments and consumables, the Group's Lab Products & Services Division concentrates on serving the needs of laboratories performing research and quality control at pharma and biopharma companies and those of academic research institutes. The Bioprocess Solutions Division with its broad product portfolio focusing on single-use solutions helps customers to manufacture biotech medications and vaccines safely and efficiently. The Group has been annually growing by double digits on average and has been regularly expanding its portfolio by acquisitions of complementary technologies. In fiscal 2019, the company earned sales revenue of some 1.83 billion euros. At the end of 2019, more than 9,000 people were employed at the Group's approximately 60 manufacturing and sales sites, serving customers around the globe.