BICO completes the acquisition of QInstruments
As announced on October 1, 2021, BICO Group AB (publ) (“BICO”) entered into an agreement to acquire QInstruments GmbH. (“QInstruments”), a German company which is a leading developer, manufacturer, and supplier of advanced sample preparation automation by mixing solutions for liquid handling robots and workflows for biomedical and life science research and clinical diagnostics. BICO has on this day completed the acquisition of all QInstruments-shares.
The preliminary purchase price for all shares amounted to approximately 61.25 million euro, which is subject to adjustment for net cash/debt and deviation from normalized working capital according to the closing date balance sheet, and of which 8 million euro was paid in 172,852 newly issued shares of series B in BICO at a price of SEK 463.3 per share (the “Consideration Shares”) and the reminder in cash. The price for the Consideration Shares has been determined by the volume weighted average price of BICO shares of series B on Nasdaq Stockholm five consecutive trading days ending on the trading day immediately preceding the closing date.
“QInstruments leads the industry by developing beautiful, customer centric, sample preparation tools and technologies that is impacting major research areas and making a difference in the results the customers can achieve. The Acquisition is in line with BICO’s commercial, Bio Convergence strategy, complementing BICO’s product offering through sample preparation by mixing solutions for advanced liquid handling robots and workflows. QInstruments’ innovative product portfolio for mixing solutions for advanced liquid handling can be seamless integrated in our existing workflows and in addition, we also see great potential in integrating QInstruments’ technology in new instruments. Getting the right result in time is the name of the game in life sciences as it impacts the health of the patient in the end. Together, we continue on our journey to democratize critical workflows in advancing healthcare,” Erik Gatenholm, CEO, and co-founder, BICO.
For further information on the acquisition and about QInstruments, please see the press release which was published on October 1, 2021.
For further information, please contact:
Isabelle Ljunggren, Head of Communications
Phone (Sweden): +46 70 830 0890
Email: il@bico.com
This information was submitted for publication, through the agency of the contact persons set out above, on October 15, at 5 pm (CEST).
About BICO
Founded in 2016, BICO (formerly CELLINK) is the leading bio convergence company in the world. By combining different technologies, such as robotics, artificial intelligence, computer science, and 3D bioprinting with biology, we enable our customers to improve people's health and lives for the better.
With a focus on the application areas of bioprinting, multiomics, cell line development, and diagnostics, the company develops and markets innovative technologies that enable researchers in the life sciences to culture cells in 3D, perform high-throughput drug screening and print human tissues and organs for the medical, pharmaceutical, and cosmetic industries. We create the future of health.
The Group’s products are trusted by more than 2,000 laboratories, including all the top 20 pharmaceutical companies, are being used in more than 65 countries, and have been cited in more than 9,500 publications. BICO is listed on Nasdaq Stockholm under BICO. www.bico.com