logo
  

Alliance Pharma To Acquire LGC's Bio-analytical Business Arm For Undisclosed Sum

Ampersand-backed Alliance Pharma Plc (APH.L) said on Tuesday that it has agreed to buy Drug Development Solutions or DDS, a bio-analytical business arm of LGC Group. Financial terms of the deal were not disclosed.

KKR & Co. Inc. (KKR) will become an equal shareholder in the combined business alongside Ampersand Capital Partners.

With this transaction, expected to be completed in the second quarter, Ampersand and KKR-backed combined business aims to boost the company's geographical reach, broaden its laboratory capabilities, and expand its service portfolio.

Eric Lev, General Partner at Ampersand Capital Partners, said: "Alliance and DDS are highly complementary businesses with industry-leading management and scientific teams, and strong track records of supporting leading pharma and biopharma customers. We are delighted to be collaborating to bring together two well respected and fast-growing bioanalytical lab services businesses to create one of the leading global specialty bioanalysis platforms."

KKR is investing in Alliance and DDS through KKR Health Care Strategic Growth Fund II, a $4 billion fund focused on investing in high-growth health care companies.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Centers for Disease Control and Prevention or CDC director, Rochelle Walensky, has initiated a reorganization of the public health agency noting that it failed to reliably meet expectations during the coronavirus pandemic period, reports said. The proposed changes for a reset in the agency are expected to help it respond quicker to new health threats. While reporting financial results for the second quarter on Thursday, department store chain Kohl's Corp. (KSS) slashed its adjusted earnings and sales growth guidance for the full-year 2022. For fiscal 2022, the company now projects adjusted earnings in a range of $2.80 to $3.20 per share on a net... Apple Inc. is planning to hold a launch event on September 7 to unveil its latest iPhone 14 line, Bloomberg reported citing people with knowledge of the matter. The tech major is also expected to roll out its latest version of three Apple Watch models including Series 8. The new products, which also include multiple new versions of Macs, and low and high-end iPads, are likely to reach stores...
Follow RTT