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Key highlights:
- Newly established business to be named Simtra BioPharma Solutions.
Advent International and Warburg Pincus, have completed the acquisition of Baxter International Inc.’s BioPharma Solutions (BPS) business. The business will now be a standalone contract development and manufacturing organisation (CDMO) operating under the name Simtra BioPharma Solutions (“Simtra”) and will continue to offer customers the same solutions and capabilities to help ensure supply of critical pharmaceutical products worldwide. Under the terms of the definitive agreement, Baxter received $4.25 billion in cash, subject to certain closing adjustments.
“I am thrilled to lead Simtra through this exciting time, augmenting the strong legacy that the team has built as part of Baxter,” said Franco Negron, who was announced as CEO of Simtra in August 2023. “I look forward to collaborating with Advent and Warburg Pincus – two highly experienced investors within the healthcare space – to continue to grow Simtra’s mission-critical services across a variety of therapeutic areas. I am committed to delivering exceptional quality, service, and technical capabilities for our global customer-base, and am excited to partner with our dedicated Simtra team members as we begin this new chapter.”
Simtra will continue to operate as a leading provider of sterile contract manufacturing solutions, parenteral delivery systems and customised support services to the pharmaceutical and biotech industries. In partnership with Advent and Warburg Pincus, Simtra will become a fully independent, end-to-end CDMO providing a range of services for clients, from clinical development to commercial fill/finish. The Simtra team of approximately 1,700 employees will continue to operate manufacturing sites in Bloomington, Indiana and Halle, Germany, and the new company will establish a corporate headquarters in New Jersey.
“Companies across the pharmaceutical and biotech industries rely on Simtra for the premier contract manufacturing services and support services it provides,” said John Maldonado, a Managing Partner at Advent. “In partnership with Franco, the Simtra leadership team, and Warburg Pincus, we will strive to build on Simtra’s specialised capabilities and drive further product expansion that will ultimately benefit more patients with critical needs.”
“Simtra is well-positioned to accelerate its go-to-market strategy under the new brand, expand its drug development offering, and execute on capacity expansion,” said TJ Carella, Managing Director and Head of Healthcare at Warburg Pincus. “We are excited to partner with Franco, Advent and the impressive team at Simtra to accelerate this next phase of growth.”