Advanced Instruments to Acquire and Merge with Nova Biomedical
Deal News | Mar 19, 2025 | PR Newswire Cision Advanced Instruments, LLC
In a strategic move to enhance its platform in the biopharmaceutical and clinical markets, Advanced Instruments, a subsidiary of Patricia Industries, has signed a definitive agreement to acquire and merge with Nova Biomedical. This merger is set to create a formidable global life science tools platform operating under the Nova Biomedical brand. Advanced Instruments, known for its scientific and analytical instruments, will integrate with Nova Biomedical's innovative product offerings used across over 100 countries. Byron Selman, CEO of Advanced Instruments, is poised to lead the newly formed entity, leveraging collective R&D strengths and a global sales network to expand the company’s footprint in various healthcare markets. The merger aligns with Patricia Industries' core strategy to deliver cutting-edge technologies and fortify customer operations in drug development and healthcare settings. The transaction awaits regulatory approval with an expected closure in the third quarter of 2025.
Sectors
- Biopharmaceutical
- Clinical Instruments
- Life Sciences
Geography
- United States – Both Advanced Instruments and Nova Biomedical are headquartered in Massachusetts, highlighting the significance of the United States as the primary geography for these companies.
Industry
- Biopharmaceutical – Both Advanced Instruments and Nova Biomedical operate within the biopharmaceutical sector, providing essential tools and instruments for drug development and healthcare solutions.
- Clinical Instruments – Nova Biomedical's instruments play a crucial role in clinical settings, providing diagnostic and monitoring solutions for patients, thus positioning them within the clinical instruments domain.
- Life Sciences – The consolidation of Advanced Instruments and Nova Biomedical focuses on creating a global life sciences tools platform, emphasizing their collaborative efforts in the life sciences industry.
Financials
- $621M – Combined sales generated by Advanced Instruments and Nova Biomedical for the full year 2024.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Advanced Instruments, LLC | Acquirer | Company | A subsidiary of Patricia Industries, renowned for its analytical instruments indispensable to biotechnology and clinical markets. |
| Nova Biomedical | Target | Company | A prestigious provider of innovative analytical instruments and consumables with a broad global reach, critical for treatment monitoring and drug development. |
| Patricia Industries | Parent Company | Company | A controlling entity within Investor AB, focuses on sustainable growth investments in market-leading companies. |
| UBS Investment Bank | Financial Advisor to Advanced Instruments | Company | Served as financial advisors to Advanced Instruments for the transaction. |
| Simpson Thacher & Bartlett LLP | Legal Advisor to Advanced Instruments | Company | Provided legal advisory services to Advanced Instruments. |
| Cooley LLP | Legal Advisor to Advanced Instruments | Company | Also provided legal advisory services alongside Simpson Thacher & Bartlett LLP to Advanced Instruments. |
| Jefferies | Financial Advisor to Nova Biomedical | Company | Advised Nova Biomedical on the financial aspects of the acquisition. |
| Davis Polk & Wardwell LLP | Legal Advisor to Nova Biomedical | Company | Provided legal advisory to Nova Biomedical during the acquisition. |
| Byron Selman | CEO | Person | Current President & CEO of Advanced Instruments, set to lead the merged company. |
| Frank Manganaro | Consultant | Person | Co-founder and CEO of Nova Biomedical, will serve as a consultant post-merger. |
| Dr. Chung-Chang Young | Consultant | Person | Executive Vice President of R&D at Nova Biomedical, to become a consultant after the merger. |
| Yuriy Prilutskiy | Co-Head | Person | Co-Head of Patricia Industries, involved in the strategic direction of the acquisition. |