Agilent Technologies to Acquire BIOVECTRA Inc. & Improve Healthcare Solutions

BIOVECTRA Inc., a Canadian Contract Development and Manufacturing Organization (CDMO), is set to be acquired by Agilent Technologies, Inc., following an agreement with H.I.G. Capital valued at $925 million. This acquisition will significantly enhance Agilent’s capabilities, broadening the scope of services available to global pharmaceutical partners focused on developing advanced treatments and therapeutics aimed at enhancing patient outcomes.

Oliver Technow, CEO of BIOVECTRA, said “Today is a testament to the reputation BIOVECTRA has built as a trusted partner with our roster of clients and to our internal efforts to continuously grow our service offering, ultimately better serving patients’ lives. We are grateful for the role of H.I.G. has played in our success these past five years and are excited to further build on that with Agilent through this synergistic pairing.” As part of the acquisition, Agilent will take over all BIOVECTRA employees and facilities located in Prince Edward Island and Nova Scotia, Canada.

Mike Gallagher, Managing Director of H.I.G, Capital, “BIOVECTRA and H.I.G. Capital developed a fantastic and satisfying partnership. We supported Oliver and his exceptional team to exponentially grow the company’s value through the expansion of its capabilities and workforce, as well as create a diversified customer pipeline. We believe that Agilent is a first-class organization that will help BIOVECTRA grow to even greater heights.”

The acquisition will enhance Agilent’s comprehensive biopharma offerings by integrating BIOVECTRA’s biologics expertise, thereby speeding up drug development and production processes. For more details, refer to Agilent’s news release here. Further updates will be provided once the deal is finalized, anticipated before 2025, contingent upon meeting standard regulatory and closing conditions.