PAI Partners has entered into an agreed to sell ELITech, a global manufacturer of in-vitro diagnostics, to Bruker Corporation
ELITech specialises in developing and manufacturing in-vitro diagnostics (IVD) instruments and reagents and has strong market positions in niche IVD segments in molecular diagnostics and microbiology. The company’s products help hospitals and laboratories perform analyses to diagnose diseases, identify disease risk factors and optimise treatment choices.
The company has 7 development and manufacturing sites in Europe and the US, a direct distribution platform in 10 key countries, an established network of distributors and strong original equipment manufacturer partnerships across the globe.
Bruker Corporation is a $10bn NASDAQ listed international life science research and diagnostics solutions provider.
The sale represents a 3.7x gross MOIC for PAI Europe VI.
