Pall, which specialises in filtration, separation and purification technologies, has become an indirectly wholly owned subsidiary of Danaher this week, following a $14bn (€12.4bn) deal first announced in May.
At the time, Thermo Fisher - which has a number of product area crossovers with Pall - had also been rumoured to have been interested in buying the firm, yet with Danaher’s bid being accepted the another major supplier has been added to the fairly consolidated biomanufacturing tech sector.
Thermo Fisher bought Life Technologies for $13.6bn in 2014, while Merck KGaA’s $17bn acquisition of biomanufacturing consumables and technology firm Sigma-Aldrich is on the brink of completion.
Discussing his firm’s second quarter results in July, Danaher’s CEO Thomas Joyce told investors he was confident this was a new area for the firm to capitalise upon:
“We see the biopharma market to be one of the most attractive markets from a sustainable growth perspective in the years to come. You saw that in Pall's reported numbers coming out of their last quarter. So we feel very good about the growth prospects there.”
Completion of the deal came just days after Pall exited the Standard & Poor's 500 - an American stock market index based on the market capitalizations of 500 large companies having common stock listed on the NYSE or NASDAQ - after it ceased trading on the NYSE.