Getinge Embraces Biotech Side with New M&A

Since 2002, High Purity New England (HPNE) has been supplying the industry with single-use assemblies and Getinge has taken notice.  So much so, that the Gothenburg, Sweden-based company has announced it will acquire HPNE for about $120 million in a deal set to close in 3Q23.

There’s also the potential for Smithfield, RI-based HPNE to be paid $170 million from 2024 to 2026 if agreed net revenue performance milestones can be achieved between 2023 to 2025.

HPNE offers a comprehensive range of proprietary and distributed products from drug discovery to upstream, and downstream processing, to fill-and-finish. HPNE’s products assist leading biopharmaceutical and biotechnology players in the production of monoclonal antibodies, vaccines, cell and gene therapies, and other next-generation therapies. The company has about 150 employees.

“This acquisition is another step in Getinge Life Science’s strategic journey to further expand our presence in the biopharma segment”, says Eric Honroth, President Life Science at Getinge. “High Purity New England (HPNE) has in recent years successfully supplied the industry with dedicated single-use assemblies. We are delighted to join forces with HPNE providing our customers with comprehensive and innovative solutions for bioprocessing applications.” 

The proposed acquisition is a bright spot for Getinge, which has been hit with CE mark suspensions and a Class I recall.

In early March, the company was notified by DEKRA that the CE Mark for its HLS and PLS sets used for extracorporeal respiratory and/or cardiovascular support was suspended. The issue that led to the suspension stems from potential breaches in the sterile packaging of the HLS and PLS.

Then in late March, Getinge said the notified body for certification services, TÜV SÜD, suspended the CE-certificate for its Cardiosave intra-aortic balloon pump, effective immediately. The suspension was based on concerns related to risk management, post-market surveillance, and vigilance, as well as information pertaining to the timeliness of field safety corrective actions.