7/106 sources · 5 publishersUpdated Oct 8, 21:40 UTC
Standard BioTools agrees to divest Microfluidics business to ARCHIMED
Standard BioTools said it has signed a definitive deal to transfer its Microfluidics operation to healthcare investor ARCHIMED. The parties expect completion in approximately 30 days, subject to customary requirements, and the business will remain with Standard BioTools until the transaction closes.
Why it matters
The purchase price was not disclosed, so the immediate effect on Standard BioTools' cash position and financial results cannot yet be assessed. Standard BioTools says the sale advances its strategic program, while CEO Michael Egholm said ARCHIMED has the resources and industry experience to develop the business under new ownership.
Key facts
- 1Standard BioTools entered a definitive agreement for ARCHIMED to acquire its Microfluidics business. globenewswire.com
- 2The companies expect the transaction to close in approximately 30 days, subject to customary closing conditions. sec.gov
- 3Microfluidics will continue operating within Standard BioTools until the deal is completed. globenewswire.com
Open questions
- The purchase price and other financial terms were not disclosed.
- The transaction remains conditional and may not be completed.
Summary written by AlphAI from 6 of 6 sources. Not investment advice. Figures are as stated by the linked sources.