DSM Strengthens Biomedical Business with Kensey Nash Acquisition
June 25, 2012 – 7:27 amFrom the wire: Royal DSM, the global life sciences and materials sciences company, has successfully completed the acquisition of Kensey Nash, through the merger of its subsidiary Biomedical Acquisition Corp. with and into Kensey Nash. As a result of the merger, Kensey Nash is now an indirect wholly owned subsidiary of DSM. First announced on 3 May 2012, the acquisition will strengthen and complement DSM’s biomedical business, one of three so-called emerging business areas at DSM. The acquisition is valued at approximately US$360 million.
Feike Sijbesma, CEO and Chairman of the DSM Managing Board said: “This acquisition fully fits with our DSM in Motion strategy: driving focused growth. Biomedical is one of the key areas where we are able to fully leverage our unique science-based expertise in the life and materials sciences. For DSM this is the tenth acquisition since our strategy announcement in September 2010. Including the pending acquisition of Ocean Nutrition Canada, we have announced €1.7 billion worth of growth-enhancing acquisitions as we continue to further improve our attractive portfolio in health, nutrition and materials to deliver shareholder value with stronger, more stable growth and profitability.”
US-based Kensey Nash is a technology-driven biomedical company, primarily focused on regenerative medicine using its proprietary collagen and synthetic polymer technology. It manufactures and sells through partners medical device parts in cardiology, orthopaedics, sports medicine, spinal and general surgery. The company is headquartered in Exton, PA, USA.
