Qiagen has appointed Jonathan Pratt as CEO, bringing in an executive with recent experience overseeing a multibillion-dollar sale as the European molecular diagnostics company considers a potential takeover by private equity firms, according to a report by Bloomberg.
The report cites a company statement as revealing that Pratt, who most recently led Filtration Group, where he helped guide the industrial technology company through its recent $9.25bn cash sale to Parker Hannifin, will succeed Thierry Bernard as CEO on 1 September.
His appointment comes as Qiagen moves further into a strategic review that could result in the company being acquired. The business has opened a data room, allowing prospective buyers to examine its operations and financials as part of their due diligence, according to people familiar with the matter.
EQT and KKR are among the firms assessing potential bids, with some prospective buyers also considering partnerships with strategic industry players, the people said. Discussions remain ongoing and there is no guarantee that any interested party will ultimately submit an offer.
Qiagen’s shares were trading 3.4% lower at $42.57 in New York on Monday, valuing the company at about $8.8bn. Earlier reports indicated that some potential bidders had considered offers of at least $50 a share.
The company provides molecular testing technologies and services to pharmaceutical companies, research organisations and clinical laboratories. A takeover would rank among Europe’s larger healthcare transactions this year and could bring an end to years of speculation over Qiagen’s ownership.
