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The newly established business under Advent International and Warburg Pincus will be named Simtra BioPharma Solutions.
On Oct. 2, 2023, Advent International (Advent), a global private equity investor, and Warburg Pincus, a global growth investor, announced that they have completed their previously announced acquisition of Baxter International’s BioPharma Solutions (BPS) business for $4.25 billion in cash, subject to certain closing adjustments.
With the acquisition, the business will now be a standalone contract development and manufacturing organization (CDMO) and will operate under the name Simtra BioPharma Solutions (Simtra). Simtra will continue to offer the same solutions and capabilities that were available under the BPS name to ensure ongoing supply of critical pharmaceutical products worldwide, according to a company press release.
Simtra will continue to operate sterile contract manufacturing solutions, parenteral delivery systems, and customized support services to the pharmaceutical and biotech industries. Under a partnership with Advent and Warburg Pincus, Simtra will become a fully independent, end-to-end CDMO providing a range of services, from clinical development to commercial fill/finish. The team of approximately 1700 employees will also continue to operate manufacturing sites in Bloomington, Ind., and in Halle, Germany. New corporate headquarters will be established in New Jersey.
“I am thrilled to lead Simtra through this exciting time, augmenting the strong legacy that the team has built as part of Baxter,” said Franco Negron, who was announced as CEO of Simtra in August 2023, in the press release. “I look forward to collaborating with Advent and Warburg Pincus—two highly experienced investors within the healthcare space—to continue to grow Simtra’s mission-critical services across a variety of therapeutic areas. I am committed to delivering exceptional quality, service, and technical capabilities for our global customer-base, and am excited to partner with our dedicated Simtra team members as we begin this new chapter.”
“In partnership with Franco, the Simtra leadership team, and Warburg Pincus, we will strive to build on Simtra’s specialized capabilities and drive further product expansion that will ultimately benefit more patients with critical needs,” said John Maldonado, a managing partner at Advent, in the release.
“Simtra is well-positioned to accelerate its go-to-market strategy under the new brand, expand its drug development offering, and execute on capacity expansion,” said TJ Carella, managing director and head of Healthcare at Warburg Pincus, in the release.
Source: Warburg Pincus