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GE Healthcare to acquire PAA Laboratories

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CIOL Bureau
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BANGALORE, INDIA: GE Healthcare, a unit of General Electric Company, announced on Monday that it has reached an agreement to acquire PAA Laboratories, a developer and supplier of cell culture media for biomedical research and the fast-growing bio pharmaceutical and vaccine manufacturing industry.

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The acquisition of PAA Laboratories will allow GE Healthcare to expand its offering of products and services for cell biology research and for the discovery and manufacture of bio pharmaceuticals including recombinant proteins, antibodies and vaccines, said a press release.

The strong strategic fit between the two businesses, combined with expanded capabilities in product development and marketing, will offer long-term customer benefits. Financial terms were not disclosed.

PAA Laboratories’ products are complementary to GE Healthcare’s established technologies for cell biology research and bio pharmaceutical purification. Combining the expertise of the two companies will enable GE Healthcare to offer a substantially wider range of integrated products and services to the bio pharmaceutical manufacturing industry, the release added.

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“The acquisition of PAA Laboratories is a significant step forward for our Life Sciences business and for bio pharmaceutical manufacturing globally. GE Healthcare Life Sciences is well known for its expertise in the 'downstream' processes of bio pharmaceutical manufacturing. Adding 'upstream' capabilities will enable us to provide an end-to-end, fully integrated service to our customers,” said Kieran Murphy, president and CEO of GE Healthcare Life Sciences.

He added that they believe on an integrated approach, where they 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.

The acquisition of PAA Laboratories is consistent with GE's strategy to invest in high-technology, innovative businesses that deliver strong top-line growth and expanded margins. The acquisition also supports GE healthy imagination, GE’s global initiative to reduce cost, increase access and improve the quality of healthcare worldwide.

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Rainer Burian, long-term CEO, PAA Laboratories said, "This is a great opportunity for the professional team of staff at PAA Laboratories and we are very excited to become part of GE Healthcare’s Life Sciences business.”

He added that the Board of Directors of PAA Laboratories strongly believes that joining such a well-respected and recognized organization will give them significant opportunities to grow their business further with new technologies, products and services. The entire PAA Laboratories team looks forward to joining GE.



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