Getinge announces today that it will purchase High Purity New England, a Smithfield, Rhode Island–based provider of custom single-use products for bioprocessing applications.
The Sweden-based life sciences giant will pay SEK 1.3 billion ($120 million)for all of privately-held High Purity New England’s outstanding shares at closing. In addition, there could be a maximum earn out of approximately SEK 1.85 billion ($170 million) in 2024–2026 if agreed net revenue performance milestones are achieved in 2023–2025.
Getinge expects the deal to close in Q3 2023, subject to customary consents, closing and regulatory conditions.
“This acquisition is another step in Getinge Life Science’s strategic journey to further expand our presence in the biopharma segment,” Eric Honroth, president of Life Science at Getinge, said in a news release. “High Purity New England (HPNE) has in recent years successfully supplied the industry with dedicated single-use assemblies. We are delighted to join forces with HPNE providing our customers with comprehensive and innovative solutions for bioprocessing applications.”
High Purity New England (HPNE) offers a range of proprietary and distributed products from drug discovery, upstream and downstream processing, to fill-and-finish. HPNE’s products assist leading biopharmaceutical and biotechnology players in the production of monoclonal antibodies, vaccines, cell and gene therapies and other next-generation therapies. Founded in 2002, the company has 150 employees.
“As we forge ahead into the next 20 years and beyond, I am thrilled to know that HPNE will continue to efficiently enable our customers to streamline and innovate their bioprocesses in combination with the Getinge name,” said Mark A. Sitcoske, founder and CEO of High Purity New England.