GE Healthcare Acquires PAA Laboratories GmbH

GE Healthcare Acquires PAA Laboratories GmbHGE Healthcare Acquires PAA Laboratories GmbH in a bid to reinforce and strengthen biopharmaceutical manufacture segment of the company.

The company announced today that they have entered a definitive agreement to acquire PAA Laboratories for an undisclosed amount.

“The acquisition of PAA Laboratories is a significant step forward for our Life Sciences business and for biopharmaceutical manufacturing globally,” said Kieran Murphy, President and CEO of GE Healthcare Life Sciences. “GE Healthcare Life Sciences is well known for its expertise in the “downstream” processes of biopharmaceutical manufacturing. Adding “upstream” capabilities will enable us to provide an end-to-end, fully integrated service to our customers. We believe that an integrated approach, where we can help customers optimize every stage of their manufacturing process, has the potential to reduce cost of entry, deliver higher yields of finished product and reduce time to market.”

GE is upbeat regarding the acquisition of the PIAA acquisition and notes it will expand its offering of products and services for cell biology research and for the discovery and manufacture of biopharmaceuticals including recombinant proteins, antibodies and vaccines.

“The acquisition of PAA Laboratories is a significant step forward for our Life Sciences business and for biopharmaceutical manufacturing globally,” said Kieran Murphy, President and CEO of GE Healthcare Life Sciences. “GE Healthcare Life Sciences is well known for its expertise in the “downstream” processes of biopharmaceutical manufacturing. Adding “upstream” capabilities will enable us to provide an end-to-end, fully integrated service to our customers. We believe that an integrated approach, where we can help customers optimize every stage of their manufacturing process, has the potential to reduce cost of entry, deliver higher yields of finished product and reduce time to market.”

Lastly, GE Healthcare noted that assuming regulatory concerns pass without a hitch that the acquisition is to close during Q3, 2011.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


© 2006-2017 Ticker Report. Google+.