ST. LOUIS, Jan. 9, 2012 /PRNewswire/ -- Sigma-Aldrich Corporation (NASDAQ: SIAL), a leading Life Science and High Technology company, announced it has signed an agreement to acquire BioReliance Holdings, Inc., a leading provider of global biopharmaceutical testing services, from Avista Capital Partners for $350 million in cash. The acquisition is subject to customary closing conditions, including regulatory clearance, and is expected to close in the first quarter of 2012.
BioReliance provides critical services that include biologic, specialized toxicology and animal health testing to pharmaceutical, biopharmaceutical, diagnostics, and other life science customers worldwide. BioReliance's service offering helps facilitate biological drug development, manufacturing and commercialization activities. The Company's ability to develop and execute global testing protocols in compliance with various regulatory standards enables BioReliance's clients to register products worldwide. The addition of these services is expected to result in a broader and richer value proposition for Sigma-Aldrich and have an immediate impact on its ability to provide enhanced solutions for its biopharmaceutical customers. The advantage for the customer is the ability to work with a single point provider that is more vertically integrated throughout the drug discovery process.
BioReliance generated revenues of approximately $110 million in the year ended December 31, 2010 with double-digit growth expected in 2011. The acquisition is expected to be modestly accretive to Sigma-Aldrich's diluted EPS in 2012 and enhance its already strong free cash flow. BioReliance is headquartered in Rockville, Maryland with additional operations in Glasgow and Stirling, S
|SOURCE Sigma-Aldrich Corporation|
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