SMITHFIELD – High Purity New England Inc., a supplier of services and equipment for the biopharmaceutical industry, was acquired by Swedish company Getinge.
Per the agreement announced on Wednesday, Getinge will acquire all outstanding shares of High Purity and will pay approximately $120 million in cash on closing and an additional $170 million between 2024 and 2026 if net revenue performance milestones are achieved.
“As we forge ahead into the next 20 years and beyond, I am thrilled to know that HPNE will continue to efficiently enable our customers to streamline and innovate their bioprocesses in combination with the Getinge name,” said Mark A. Sitcoske, founder and CEO of High Purity New England. “Together, we will accomplish great things.”
In April 2022, High Purity cut the ribbon on its third facility in Smithfield, supported by a $15 million federal contract from the Biomedical Advanced Research and Development Authority. The $10 million, 80,000-square-foot building added 8,000 square feet of cleanroom space, an extensive laboratory, auditorium, a mock cleanroom for onboarding employees and two floors of warehouse for materials and finished goods.
All of High Purity’s 150 employees are expected to be retained by Getinge, which employs more than 10,000 people worldwide in more than 135 countries.
“High Purity New England has in recent years successfully supplied the industry with dedicated, single-use assemblies,” said Eric Honroth, president of life science at Getinge. “This acquisition is another step in Getinge Life Science strategic journey to further expand our presence in the biopharma segment.”
