Following regulatory approval, Advanced Instruments, a wholly-owned subsidiary within Patricia Industries, has now completed its acquisition of Nova Biomedical.
In March, the company announced it had signed an agreement to acquire Nova Biomedical.
The enterprise value amounts to USD $2.2 billion, with Patricia Industries contributing USD $1.6 billion in financing, according to the company. The remainder of the enterprise value has been financed by external debt.
The combined company will now be named Nova Biomedical and be led by Advanced Instruments’ CEO Byron Selman. The combined company will be reflected in Investor’s reporting from the Interim Management Statement January-September 2025 onwards.
“Combining these two great companies aligns with our strategy of developing and commercializing technologies that deliver significant customer value across the biopharma and clinical markets,” Byron Selman, CEO of Advanced Instruments, said in March. “Bringing together Advanced Instruments and Nova Biomedical will advance our collective ability to support customer workflows within various stages of drug development and bioprocessing and expand our footprint within the hospital and other healthcare settings, guiding patient care with our diversified product portfolio and supporting our growing customer base.”
