subscribe
 

Agilent to acquire BioTek

18th July 2019


Agilent Technologies has announced it has signed a definitive agreement to acquire privately owned BioTek Instruments for US$1.165 billion. 

BioTek is a global leader in the design, manufacture and distribution of innovative life science instrumentation. Its comprehensive product line includes cell imaging systems, microplate readers, washers, dispensers, automated incubators and stackers. These products enable life science research by providing customers with high performance, cost-effective analysis across diverse applications. BioTek generated revenues of US$162 million in fiscal year 2018 ending December 31 and is expected to grow approximately 10% in 2019.

"BioTek represents a strong strategic fit with Agilent," said Mike McMullen, Agilent president and CEO. "The combination of these two companies will accelerate our multiyear growth strategy to expand our position in cell analysis. This is another example of Agilent investing in high-growth segments of the life sciences market to serve new and existing customers. Agilent is committed to continuing operations in Vermont and retaining the great team of nearly 500 employees that have been at the core of BioTek's 50-year history of excellence and success."

"BioTek and Agilent have already been in partnership for over a year, successfully unlocking significant value through joint development of customer solutions," said Briar Alpert, CEO of BioTek. "Both companies share the same focus on customers and employees, as well as a similar purpose, mission and values. I am confident that this is the winning formula for our employees and customers around the world."

Agilent entered the cell analysis segment in 2015 with the acquisition of Seahorse Bioscience, a leader in providing specialised instruments and live-cell, kinetic assays. Agilent Seahorse XF technology was a leap in the evolution of cellular metabolism analysis, allowing researchers to better understand metabolic profiles in live cells.

In January 2018, Agilent broadened its portfolio of cell analysis solutions through the acquisition of Luxcel Biosciences. Luxcel's assays use soluble sensors to analyse metabolism, making them a perfect complement to Agilent's Seahorse XF technology, providing researchers with more options to analyse live-cell metabolism.

In September 2018, Agilent differentiated its portfolio further through the acquisition of ACEA Biosciences, a pioneer in the development and commercialisation of high-performance cell analysis platforms for life science research. 

"By combining BioTek's offerings with Agilent's, we will deliver a breadth of differentiated workflows, enabling customers to obtain deeper, more reliable insights across a variety of cell analysis applications," said Jacob Thaysen, president of Agilent's Life Sciences and Applied Markets Group. "This positions Agilent well in the large and growing immuno-oncology and immunotherapy markets and expands our presence in biopharma, academia and research as customers seek to understand complex cellular environments and interactions."
 





Subscribe

Subscribe



Newsbrief

FREE NEWSBRIEF SUBSCRIPTION

To receive the Scientist Live weekly email NewsBrief please enter your details below

Twitter Icon © Setform Limited
subscribe