M&A Deal Summary

Tecan Group Acquires Paramit

On June 23, 2021, Tecan Group acquired medical products company Paramit from Altaris for 920M CHF

Acquisition Highlights
  • This is Tecan Group’s 1st transaction in the Medical Products sector.
  • This is Tecan Group’s largest (disclosed) transaction.
  • This is Tecan Group’s 2nd transaction in the United States.
  • This is Tecan Group’s 2nd transaction in California.

M&A Deal Summary
Date 2021-06-23
Target Paramit
Sector Medical Products
Buyer(s) Tecan Group
Sellers(s) Altaris
Deal Type Add-on Acquisition
Deal Value 920M CHF

Target

Paramit

Morgan Hill, California, United States
Paramit is a provider of medical device manufacturing services. Paramit offers a turn-key solution, including product design and prototype development, commercial-scale component manufacturing, test solutions, and assembly services. Paramit serves many of the fastest-growing, most innovative companies in the medical device and technology marketplace. Paramit was founded in 1990 and is based in Morgan Hill, California.

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Buyer(S) 1

Buyer

Tecan Group

Männedorf, Switzerland
Category Company
Founded 1980
Sector Life Science
Employees1,184
DESCRIPTION

Tecan is a global provider of laboratory instruments and solutions in biopharmaceuticals, forensics and clinical diagnostics.

DEAL STATS #
Overall 5 of 5
Sector (Medical Products) 1 of 1
Type (Add-on Acquisition) 5 of 5
State (California) 2 of 2
Country (United States) 2 of 2
Year (2021) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-31 SPEware

Baldwin Park, California, United States

SPEware Corp. is a developer and manufacturer of solid phase extraction columns for the reference laboratory and biophama.

Buy $50M

Seller(S) 1

SELLER

Altaris

New York City, New York, United States
Category Private Equity Firm
Founded 2003
PE ASSETS 10.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Altaris is a specialist private equity firm that targets investments in the healthcare industry. Altaris focuses its investment activity across the healthcare sector, including pharmaceuticals, medical devices, healthcare services and healthcare IT. Altaris will consider both control and non-control investment situations requiring $15 to $50 million of equity capital. Prospective investment situations include corporate carve-outs, leveraged buyouts, and growth equity/recapitalization investments. Altaris was formed in 2004 and is based in New York, New York.

DEAL STATS #
Overall 23 of 24
Sector (Medical Products) 8 of 8
Type (Add-on Acquisition) 10 of 10
State (California) 2 of 2
Country (United States) 21 of 22
Year (2021) 2 of 3
Size (of disclosed) 3 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-15 Solesis

Perkasie, Pennsylvania, United States

Solesis is an innovative provider of biomaterials, tools, and services for the life science and medical technology industries. Solesis operates through two primary business divisions, Secant Group and Charter Medical. The Secant Group, which includes SanaVita Medical, is a supplier of biomaterials and implantable textile structures that enable repair, recovery, and regeneration of human tissue, as well as technical materials for the specialty chemical and aerospace markets. Charter Medical supplies single-use tools for cell culture expansion, cryopreservation, and fluid management that are used during the development and manufacturing of biopharmaceuticals, including cell and gene therapies. Solesis was founded in 2012 and is based in Perkasie, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-23 BK Medical

Peabody, Massachusetts, United States

BK Medical is a global intraoperative imaging and surgical navigation company. BK Medical enables surgeons to make real-time, data-based decisions during surgical procedures, resulting in better clinical outcomes and reduced costs for patients, physicians, and the healthcare system. BK Medical is based in Peabody, Massachusetts.

Sell $1.5B
Mergr

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