Getinge completes acquisition of Applikon Biotechnology B.V.

On December 20, 2019, Getinge announced an agreement to acquire Applikon Biotechnology B.V., a leading company in the development and supply of advanced bioreactor systems for the research and production of vaccines and antibodies in the biopharmaceutical industry, as well as enzymes and bio-plastics for industrial biotechnology. All conditions for the transaction and closing have now been fulfilled. The transaction was completed on January 3, 2020. Getinge have paid approximately SEK 840 million (EUR 80 million) in cash on closing for 100 percent of the shares. In addition, a maximum earn out of approximately SEK 630 million (EUR 60 million) can be paid out in 2021-2022 if agreed earnings performance is achieved in 2020-2021. The acquisition will be financed through debt and the net debt to EBITDA ratio is expected to be impacted by 0.2x at closing of deal. Getinge expects no material integration costs in 2020-2021.

Long-term, Applikon Biotechnology B.V. is expected to bring a material contribution to Getinge’s Life Science business area in terms of net sales and EBITA. Getinge’s Life Science business performed SEK 2.3 billion in net sales and SEK 293 million in EBITA Q4 2018-Q3 2019. For Getinge, the acquisition is not expected to have a material impact on operating profit and earnings per share as of 2020. The acquisition broadens Getinge’s position further within solutions for efficient, safe and contamination-free research and production processes in the biopharma segment.