A shareholder group led by private equity firm Nordic Capital has agreed to sell The Binding Site Group (Binding Site), a specialty diagnostics company headquartered in Birmingham, UK, to Thermo Fisher Scientific for £2.25 billion.
Nordic Capital has been the majority owner of The Binding Site since 2011 when it completed the acquisition together with Five Arrows. Since then, the business has grown fivefold with revenues amounting to approximately £200 million in 2022.
The transaction, which is expected to be completed in the first half of 2023, is subject to customary closing conditions, including regulatory approvals.
The Binding Site provides medical solutions that improve the detection, diagnosis and management of blood cancers and immune system disorders. Its Freelite offering is widely recommended for Multiple Myeloma diagnosis and monitoring across multiple stages of the disease by many major clinical diagnosis and treatment guideline publications.
By joining Thermo Fisher Scientific, The Binding Site will be able to accelerate scientific discovery and expand its product offering.medical solutions that improve the detection, diagnosis and management of blood cancers and immune system disorders.
