Sigma-Aldrich to Acquire BioReliance Corporation for $350 Million
BioReliance, a leading provider of global biopharmaceutical testing services, recently announced it has agreed to be acquired by Sigma-Aldrich Corporation. Avista Capital Partners, the majority owner of BioReliance Holdings, Inc., agreed to sell the company 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 biologics testing, specialized toxicology, and animal health testing to pharmaceutical, biopharmaceutical, diagnostics, and other life science clients worldwide. BioReliance’s service offering helps facilitate 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 with regulatory agencies worldwide.
Sigma-Aldrich is a leading life science and high technology company. Its biochemical and organic chemical products and kits are used in scientific and genomic research, biotechnology, pharmaceutical development, the diagnosis of disease, and as key components in pharmaceutical and other high-technology manufacturing.
“The acquisition of BioReliance by Sigma-Aldrich creates one of the broadest product and service offerings for the development and manufacture of biological drugs,” said BioReliance’s President and CEO Charles Harwood. “In addition, BioReliance’s Specialized Toxicology and Animal Health Services segments are complementary to other Sigma-Aldrich product and technology areas.”
Avista Capital Partners acquired BioReliance in 2007. With regard to the acquisition of BioReliance by Sigma-Aldrich, Avista Partner and President David Burgstahler added, “BioReliance is a world-class organization led by an outstanding team of seasoned life sciences professionals that has demonstrated success through impressive growth, scientific innovation, and exceptional customer service. Avista is committed to work with Sigma-Aldrich to ensure the successful transition of BioReliance and believes that the addition of BioReliance’s capabilities and service portfolio will allow Sigma-Aldrich to significantly enhance value to its clients and stakeholders.”
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