From: Biovectra
Date: July 22, 2024
Agilent Technologies to Acquire BIOVECTRA Inc., Creating New Synergistic Opportunities to Improve Patient Care
CHARLOTTETOWN, Prince Edward Island and SANTA CLARA, California – July 22, 2024
BIOVECTRA Inc. and Agilent Technologies, Inc. (NYSE: A) today announced the signing of an agreement for Agilent to acquire BIOVECTRA, a Canadian-based Contract Development and Manufacturing Organization, from H.I.G. Capital for $925 million.
The acquisition provides the ability to expand the range of capabilities available to global pharmaceutical partners working on next-generation treatments and therapeutics that will improve patients’ lives.
“Today is a testament to the reputation BIOVECTRA has built as a trusted partner with our roster of clients and to our internal efforts to continuously grow our service offering, ultimately better serving patients’ lives,” said Oliver Technow, CEO of BIOVECTRA. “We are grateful for the role H.I.G. has played in our success these past five years and are excited to further build on that with Agilent through this synergistic pairing.”
Agilent’s acquisition includes all BIOVECTRA employees and sites in Prince Edward Island and Nova Scotia, Canada.
“BIOVECTRA and H.I.G. Capital developed a fantastic and satisfying partnership. We supported Oliver and his exceptional team to exponentially grow the company’s value through the expansion of its capabilities and workforce, as well as create a diversified customer pipeline,” said Mike Gallagher, Managing Director of H.I.G. Capital. “We believe that Agilent is a first-class organization that will help BIOVECTRA grow to even greater heights.”