Horizon Discovery Group has agreed to acquire GE Healthcare Dharmacon from parent General Electric for US$85 million to create a combined company which will focus on applying gene-editing and gene-modulation technologies in the life science field.
Colorado based Dharmacon is an indirect wholly owned subsidiary of General Electric that has grown into one of the leading providers of RNA interference products, with an extensive gene-editing product portfolio.
Horizon CFO Richard Vellacott said the acquisition “positions Horizon as a world leader in building, engineering, and modulating cells.”
Horizon disclosed that Dharmacon finished 2016 with net earnings of US$5.4 million on revenues of US$36.7 million, which is more than double Horizon’s own earnings last year (US$31.3 million).
The acquisition is still subject to approval by Horizon shareholders as well as regulator clearance in the US.
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