Werfen has agreed to acquire Immucor from TPG. Immucor is a privately held corporation with a strong global presence in transfusion and transplant in vitro diagnostics. This acquisition will allow Werfen to expand its portfolio of specialized diagnostics solutions for hospitals and clinical laboratories.
The purchase price is expected to be approximately $2 billion, with closing subject to customary regulatory approvals. The acquisition is being funded with a mix of cash on hand and new senior credit facilities. The company does not expect the transaction to impact its investment grade rating from Standard & Poor’s.
“As a global leader in the research, development, manufacturing and distribution of innovative, Specialized Diagnostics solutions for hospitals and clinical laboratories, Immucor is a natural fit with our existing business model,” says Marc Rubiralta, president of Werfen. “We highly value Immucor’s commitment to enhancing care for all patients in need of a transfusion or transplant. This fits squarely with our long-term vision and strategy, aligns with our focus, and complements Werfen’s values.”
Rubiralta added, “I am confident that by combining two complementary, outstanding Specialized Diagnostics companies, Werfen will expand its global presence with greater diversification, while successfully maintaining its focus on specialization.”
Immucor is headquartered in Norcross, Georgia.
“Immucor’s expertise and innovations in transfusion and transplant diagnostics enable us to enter new markets and will help achieve our vision to be the preferred choice of the most advanced laboratory and point-of-care customers, globally,” says Carlos Pascual, CEO of Werfen. “It will be a major milestone in the future of Werfen.”
Upon completion of this acquisition, and based on 2021 figures, Werfen will have seven technology centers, close to 7,000 employees worldwide, and a direct presence in 30 countries and more than 100 territories through distributors.
Avi Pelossof, CEO of Immucor says, “As we look to the future, we are excited to grow our impact as part of Werfen, a company that shares our long-term vision and commitment to advancing patient care globally. As the value of diagnostics in the healthcare system grows, we are confident that Immucor will continue to innovate and succeed under Werfen’s ownership.”
Werfen was advised by Barclays and Milbank LLP. BBVA, BNP Paribas, CaixaBank and HSBC Holding plc provided commitments for the new senior credit facilities. The sellers and Immucor were advised by Evercore and Ropes & Gray LLP.