Tecan Group Ltd, a $795m Switzerland-based global provider of laboratory instruments and solutions in life science research and clinical diagnostics, has acquired Paramit Corporation, a maker of electronics based medical devices and life science instruments. The deal accelerates Tecan's entry into medical devices and enhances Paramit's capabilities and market leadership in life sciences. Paramit provides fully integrated engineering, manufacturing, and post-manufacturing services to medical device and instrument companies. With operations in both U.S. and Malaysia, the company has full instrument product development capabilities and can rapidly accelerate the product realization process. Paramit was backed by Altaris Capital. In 2020, Paramit acquired Emphysys inc, a U.S. technology development firm and S.I.E Solutions, an Austria-based embedded software company. Deal value - $1b on sales of $280m (3.6x).
Keywords: Healthcare Investment Banking, Healthcare M&A, Healthcare Mergers, Medical Devices