Deal Team
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Lee Biosolutions is a leading U.S. provider of a large variety of high-quality biomaterials for the in vitro diagnostics industry.
Medix Biochemica is a Finnish biotechnology company focusing on high quality diagnostic raw materials and rapid tests for global diagnostic markets. It develops market antibodies, antigens and antibody services for the in vitro diagnostics (IVD) industry and serve the largest multinational IVD companies.
As a result of the transaction, the complementary product portfolios of Medix Biochemica and Lee Biosolutions will be available from a comprehensive global sales network.
Founded in 1975, Lee Biosolutions is a manufacturer of high-quality proteins, enzymes, antigens and biologicals used for quality controls and calibrators in the IVD industry. The company is known for its outstanding capabilities in protein purification and operational excellence in raw materials sourcing. Lee Biosolutions’ customers include most of the largest global in vitro diagnostics manufacturers as well as a number of pharmaceutical and medical device companies, research institutions and forensic laboratories. The company is headquartered in St. Louis, Missouri.
Bryan, Garnier & Co advised Lee Biosolutions on the sale, which sees Medix’s shared focus on the IVD market but highly complementary product and regional focus areas.
In addition, the transaction has attractive synergy through leveraging of Medix’s sales network in the global sales of Lee Bio’s products as well as economies of scale in R&D and product development.
This transaction demonstrates Bryan, Garnier & Co’s cross-border ability to effectively manage strategic M&A in the US market. Other references include the acquisition of TxCell by Sangamo.