In an attempt to further strengthen its Life Sciences
), on Feb 20, completed the acquisition of ATMI LifeSciences
business. The deal, valued at $185 million, was announced to have
closed in fiscal third quarter. The decision to acquire ATMI was
announced on Dec 23, 2013. This acquisition is estimated to be
immediately accretive to Pall's revenues, while being slightly
dilutive to its earnings in fiscal 2014.
The purchase is a strategic move as it complements Pall's
existing Life Sciences segment business. It supports Pall's
current offering and broadens its already extensive portfolio of
advanced solutions for biopharmaceutical customers.
ATMI, Inc. is a global provider of specialty semiconductor
materials, safe, high-purity materials handling and delivery
solutions. ATMI LifeSciences is a technology leader in the area
of single-use bioprocess systems and consumables for the
pharmaceutical and biopharmaceutical industries. It has an
innovative, market-leading portfolio of custom-engineered,
flexible packaging solutions, single-use storage systems, mixers
and bioreactors. These businesses are driving bioprocess
efficiency and delivering value for biopharmaceutical companies
across the world.
Pall Corp's Life Sciences segment is one of the primary
contributors to its top-line improvement with a 7% year-over-year
revenue growth in the last reported quarter. This increase
was driven by a 5% rise in the Biopharmaceuticals segment, which
in turn was aided by new products; 6% growth in the Food &
Beverage division driven by strong performance across regions;
and a 17% improvement in the Medical segment, on the back of
strong sales to OEMs.
Pall Corp. carries a Zacks Rank #3 (Hold). Investors
interested in the pollution control industry may consider stocks
Sharps Compliance Corp
) with a Zacks Rank #1 (Strong Buy) and
Tetra Tech Inc
Pure Cycle Corp
), carrying a Zacks Rank #2 (Buy).
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