Avantor Inks Pact To Divest Its Clinical Services Business, Including Kitting, Biorepository, And Related Equipment And Ancillaries, To Audax Private Equity For A Transaction Value Of Approximately $650M
Portfolio Pulse from Benzinga Newsdesk
Avantor has agreed to sell its Clinical Services business, including kitting, biorepository, and related equipment and ancillaries, to Audax Private Equity for approximately $650 million.
August 16, 2024 | 11:39 am
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Avantor has agreed to sell its Clinical Services business to Audax Private Equity for approximately $650 million. This divestiture could streamline Avantor's operations and provide significant capital.
The divestiture of the Clinical Services business will likely streamline Avantor's operations and provide a significant influx of capital, which could be used for debt reduction, reinvestment, or other strategic initiatives. This is generally viewed positively by investors.
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