Danaher Corporation (NYSE: DHR) is selling a number of its business segments and assets to Sartorius AG (FWB: SRT) for $750 million. The sale includes Danaher’s label-free biomolecular charaterization, chromatography hardware and resins, and microcarriers and particle validation standards businesses, which are part of its Life Sciences segment.
Danaher is selling this portion of its Life Sciences segment as a step towards obtaining regulatory approval for its pending acquisition of the GE Biopharma business (NYSE: GE). These businesses generated approximately $140 million in combined revenue in 2018.
GE Life Sciences announced the sale of its biopharmaceutical business for $21.4 billion to Danaher back in late February. That type of price is to be expected from a segment that generated roughly $3 billion in revenue in 2018. The biopharma business provides instruments, consumables, and software that support the research, discovery, process development and manufacturing workflows of biopharmaceutical drugs. The business will become a stand-alone company within Danaher’s Life Sciences segment, joining the Pall, Beckman Coulter Life Sciences, SCIEX, Leica Microsystems, Molecular Devices, Phenomenex, and IDT businesses.
If Danaher’s recent divestment is enough to appease regulators, its deal for the GE Biopharma business is expected to close by the end of the year.