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● TECAN . Press Release Tecan expands its commercial reach , its capabilities and its US and Asia presence with the acquisition of Paramit Corporation • • • • • Tecan to acquire Paramit Corporation , a leading OEM developer and manufacturer of medical devices and life sciences instruments , for a total consideration of USD 1.0 billion ( CHF 920 million ) In full year 2021 , Paramit is expected to generate around USD 280m in sales ( CHF 257m ) and around USD 50m EBITDA ( CHF 46m ) , before acquisition- related costs Transaction expected to be immediately and significantly accretive to earnings per share ( EPS ) upon closing Adds complementary expertise , broadens design , development and manufacturing capabilities Expansion into the attractive and fast - growing medical device market segment , close to Tecan's own core competencies Combined entity with leading OEM offering , well diversified , differentiated and fully complementary portfolio of products and services Significantly strengthens geographic footprint in the US , the largest life sciences and healthcare market in the world - Männedorf , Switzerland , June 23 2021 The Tecan Group ( SIX Swiss Exchange : TECN ) announced today that it has entered into a definitive agreement to acquire US - based Paramit Corporation and its affiliates ( “ Paramit ” ) for a total purchase consideration of USD 1.0 billion ( CHF 920 million ) . Paramit , headquartered in Morgan Hill ( CA ) , US , is a leading OEM developer and manufacturer of medical devices and life sciences instruments . With the addition of approximately USD 300 million in revenues ( CHF 276 million ) expected in 2022 , the acquisition will further extend Tecan's position in solutions for life sciences and in - vitro diagnostics ( IVD ) . It will also add a new business vertical in the attractive and fast - growing market for medical devices . The acquisition will bring significant engineering as well as cost - competitive manufacturing capabilities , both in North America and in the APAC region . Equipped with proprietary computer - directed assembly technology , these facilities deliver ultra - flexible production planning , while reducing the potential for errors ( " zero - defect manufacturing ” ) . Tecan CEO , Dr. Achim von Leoprechting , commented : “ We are delighted to bring the Paramit Team into the Tecan Group . The company's extensive OEM offering and its state - of - the - art development and manufacturing facilities will strengthen our market reach and enable us to more effectively meet customer needs , scaling innovation from research all the way to the clinic . In addition to extending our core markets of life science research and diagnostics , the acquisition will also open a whole new growth market in the field of medical devices . At Tecan , we share Paramit's strong customer - centric culture , expertise and track record in quality and regulatory affairs , which are key differentiators in the industry and essential for OEM success in regulated markets . Paramit's geographic presence is complementary to that of Tecan , benefitting both parties . Tecan Tecan Group Ltd. , Seestrasse 103 , CH - 8708 Männedorf , Switzerland T +41 44 922 88 88 , F +41 44 922 88 89 , info@tecan.com , www.tecan.com