Following regulatory approval, Advanced Instruments, a wholly-owned subsidiary within Patricia Industries, has now completed its acquisition of Nova Biomedical, a global provider of analytical instruments and consumables for the biopharmaceutical and clinical markets.
The enterprise value amounts to USD 2.2bn. Patricia Industries has contributed USD 1.6bn in financing. The remainder of the enterprise value has been financed by external debt.
The combined company will now be named Nova Biomedical and be led by Advanced Instruments' CEO Byron Selman. The combined company will be reflected in Investor's reporting from the Interim Management Statement January-September 2025 onwards.
About Patricia Industries
Patricia Industries is a long-term owner that invests in companies and works to develop each company to its full potential. Patricia Industries is a part of the industrial holding company Investor AB, whose main owner is the Wallenberg Foundations.
About Nova Biomedical
Nova Biomedical is a global provider of analytical instruments and consumables for the biopharmaceutical and clinical markets. The company's innovative products are used in over 100 countries by leading biopharmaceutical companies and hospitals. Nova's clinical products provide point-of-care analysis and monitoring of critical analytes including blood gases and glucose used to diagnose and monitor patients in hospital settings. Nova's biopharmaceutical products provide mission-critical analytics for research laboratories and drug manufacturing facilities, accelerating and improving the drug development process and product quality. Nova is headquartered in Waltham, Massachusetts and has approximately 1,500 employees.
About Advanced Instruments
Advanced Instruments is a global provider of analytical instruments and consumables for the biopharmaceutical and clinical markets. The company's innovative products are used in over 90 countries by leading biopharmaceutical companies and hospitals. Advanced Instruments is headquartered in Norwood, Massachusetts and has approximately 350 employees.
For further information:
Jacob Lund, Chief Communications & Sustainability Officer,
Phone +46 725 60 21 57
jacob.lund@investorab.com
Magnus Dalhammar, Head of Investor Relations,
Phone +46 73 524 2130
magnus.dalhammar@investorab.com
Our press releases can be accessed at www.investorab.com
Investor AB, founded by the Wallenberg family in 1916, creates value for people and society by building strong and sustainable companies. Through substantial ownership and board participation, we drive initiatives that we believe create value and support our companies to remain or become best-in-class. Our portfolio is organized in three business areas: Listed Companies, Patricia Industries and Investments in EQT.
