GE Healthcare has reached an agreement to purchase PAA Laboratories, a developer and supplier of cell culture media for biomedical research. The financial details of the transaction were not disclosed.
According to a statement from PAA, the deal is expected to close in the fourth quarter. Until then, both companies will continue to operate separately. After completion, PAA will operate as a distinct unit of GE Healhcare. PAA stated there will be no material impact on the management and process concerning business operation in the short term.
PAA develops, manufactures and distributes specialized and innovated cell culture products for the production of protein-based pharmaceuticals.