Werfen to Acquire Immucor, Inc., Expanding its Presence in Specialized Diagnostics

• Werfen enters into an agreement to acquire Immucor, Inc., a privately held, US-based corporation, with a solid global presence in transfusion and transplant in vitro diagnostics
• The transaction is expected to close during the first half of 2023

BARCELONA, Spain, Nov. 3, 2022 /PRNewswire/ -- Werfen announced today that it has agreed to acquire Immucor, Inc., from TPG. Immucor is a privately held corporation with a strong global presence in transfusion and transplant in vitro diagnostics, headquartered in Norcross, Georgia, USA. This acquisition will allow Werfen to expand its portfolio of Specialized Diagnostics solutions for hospitals and clinical laboratories.

The purchase price is expected to be approximately US$2 billion, with closing subject to customary regulatory approvals. The acquisition is being funded with a mix of cash on hand and new senior credit facilities. The company does not expect the transaction to impact its investment grade rating from Standard & Poor's.

"As a global leader in the research, development, manufacturing and distribution of innovative, Specialized Diagnostics solutions for hospitals and clinical laboratories, Immucor is a natural fit with our existing business model," said Marc Rubiralta, President of Werfen. "We highly value Immucor's commitment to enhancing care for all patients in need of a transfusion or transplant. This fits squarely with our long-term vision and strategy, aligns with our focus, and complements Werfen's values."

Rubiralta added, "I am confident that by combining two complementary, outstanding Specialized Diagnostics companies, Werfen will expand its global presence with greater diversification, while successfully maintaining its focus on specialization."

"Immucor's expertise and innovations in transfusion and transplant diagnostics enable us to enter new markets and will help achieve our vision to be the preferred choice of the most advanced laboratory and point-of-care customers, globally," said Carlos Pascual, CEO of Werfen. "It will be a major milestone in the future of Werfen."

Avi Pelossof, CEO of Immucor said, "As we look to the future, we are excited to grow our impact as part of Werfen, a company that shares our long-term vision and commitment to advancing patient care globally. As the value of diagnostics in the healthcare system grows, we are confident that Immucor will continue to innovate and succeed under Werfen's ownership."

Upon completion of this acquisition, and based on 2021 figures, Werfen will surpass €2.2 billion in revenue, with seven technology centers, close to 7,000 employees worldwide, and a direct presence in 30 countries and more than 100 territories through distributors.

Werfen was advised by Barclays and Milbank LLP. BBVA, BNP Paribas, CaixaBank and HSBC Holding plc provided commitments for the new senior credit facilities. The sellers and Immucor were advised by Evercore and Ropes & Gray LLP. 

Founded  in 1966, Werfen is a worldwide developer, manufacturer and distributor of Specialized Diagnostic instruments, related reagents, automation workcells, and data management solutions for use primarily in hospitals and independent clinical laboratories. The Company's business units include Hemostasis, Acute Care Diagnostics, Autoimmunity, and Original Equipment Manufacturing (OEM). Werfen operates directly in nearly 30 countries and in more than 100 territories through distributors. For more information, visit werfen.com      

TPG is a leading global alternative asset management firm, founded in San Francisco in 1992, with $127 billion of assets under management and investment and operational teams in 12 offices globally. TPG invests across five multi-product platforms: Capital, Growth, Impact, Real Estate, and Market Solutions and our unique strategy is driven by collaboration, innovation, and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities. For more information visit www.tpg.com or @TPG on Twitter.

This document contains forward-looking statements about our business, financial data, and events related to the prospects of Werfen. These forecasts can be identified by the use of words such as "expectation", "vision", "anticipation", "intention", "plan", "belief", "search", "estimate", "future", "project", or words with a similar meaning. We may also make projections in other reports, presentations, and press releases. Furthermore, our sales representatives may occasionally make forward-looking statements. These projections are based on our current expectations and on certain hypotheses, many of which are beyond the corporation's control and subject to a series of risks and uncertainties. In the event that any of these risks or uncertainties should materialize or the underlying expectations are not fulfilled, the results or performance of Werfen may differ substantially (either positively or negatively) from those explicitly or implicitly forecast. Werfen assumes no obligation to update or revise any forward-looking statements made previously.

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