BDA and William Blair advise Navis on sale of B Medical Systems to Azenta

BDA Partners is pleased to announce that Navis Capital (“Navis”), advised by William Blair and BDA Partners, has agreed to sell 100% of B Medical Systems (“B Med”) to Azenta, Inc (“Azenta”), a leading provider of cold-chain sample management solutions and genomics services to top pharmaceutical, biotech, academic and healthcare institutions globally. The transaction values B Med at an Enterprise Value of up to €460 million and is expected to close in October 2022.  

B Med is the global leader in sustainable medical cold chain solutions with a presence in over 150 countries. As the world’s single largest vaccine cold chain provider, B Med ensures the safe and reliable storage and transportation of temperature-sensitive vaccines to a significant part of the global population, particularly in emerging economies in Asia, Latin America and Africa where electricity grids are unreliable and in places non-existent.

Nicholas Bloy, Managing Partner at Navis, commented: “B Med is an interesting case study illustrating the successful execution of a product development strategy focused solely on providing medical equipment and data that helps organisations around the world to save millions of lives. We wish our trusted friends and partners at B Med all the best as they embark on the next stage of their growth journey with Azenta.”     

Luc Provost, CEO of B Med, commented: “We are proud to be the partner of choice for countries to help save lives through the safe and reliable delivery of vaccines, blood and pharmaceuticals. Over the last seven years we have created an incredible growth platform that will deliver on multiple new initiatives in the next few years. We are delighted to be part of the Azenta family and we know that we will create significant value – both financial and social – in our new journey together.”

Andrew Huntley, Managing Partner and Global Head of Healthcare, BDA Partners, said: “We have advised Navis on numerous successful exits. This transaction is a great example of how BDA and our partners at William Blair deploy our life sciences sector expertise to help deliver a global transaction involving Asia, Europe and North America.”