Advent International and Warburg Pincus have completed their acquisition of Baxter International Inc.‘s BioPharma Solutions business for $4.25 billion.
The business will now be a standalone contract development and manufacturing organization (CDMO) operating under the name Simtra BioPharma Solutions and will continue to offer customers the same services and capabilities to help ensure the supply of pharmaceutical products worldwide. Simtra will continue to operate as a provider of sterile contract manufacturing services, parenteral delivery systems and support services to the pharmaceutical and biotech industries.
“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,” says TJ Carella, managing director and head of healthcare at Warburg Pincus.