Global private equity investor Advent International (Advent), and global growth investor Warburg Pincus, have completed their previously announced $4.25bn all-cash acquisition of Baxter International Inc’s BioPharma Solutions (BPS) business.
The business will now operate as a standalone contract development and manufacturing organisation (CDMO) under the name Simtra BioPharma Solutions (Simtra), while continuing to offer customers the same solutions and capabilities to help ensure the supply of critical pharmaceutical products worldwide.
In partnership with Advent and Warburg Pincus, Simtra will become a fully independent, end-to-end CDMO providing a range of services for clients, from clinical development to commercial fill/finish. The Simtra team of approximately 1,700 employees will continue to operate manufacturing sites in Bloomington, Indiana and Halle, Germany, and the new company will establish a corporate headquarters in New Jersey.
Advent has been investing in the healthcare sector for over 30 years, while since inception, Warburg Pincus has invested over $17 billion in more than 180 healthcare companies.
