The acquisition, which has a purchase price of $240 million upfront, also includes potential milestone payments linked to achievements of commercial and operating targets.
According to a news release, the companies expect the acquisition — subject to regulatory approvals and other customary closing conditions — to close by mid-2022. Fresenius Kabi and Ivenix aim to combine the latter’s advanced infusion system with the former’s intravenous fluids and infusion therapy offerings.
Fresenius Kabi plans to build on the acquisition by accelerating operational and commercial growth and scale to create a platform for rapid expansion and establish itself as a leader in the growing infusion market.
“We’re very pleased to partner with Fresenius Kabi, a leading global health care company,” Ivenix CEO Jorgen B. Hansen said in the release. “Together, we intend to transform the standard of care for North American health care providers and patients by providing the highest level of safe and effective integrated infusion care.”
Ivenix develops an infusion system with a large-volume infusion pump with administration sets, management tools and analytics to inform care and advance efficiency. The FDA-cleared infusion system was launched in 2021.
“Combining Ivenix’s expertise in pump technology and software with our infrastructure, portfolio, and presence in hospital settings represents an ideal opportunity,” Fresenius Kabi President and CEO Michael Sen said. “We intend to scale the launch of Ivenix’s next-generation infusion system while driving growth opportunities in the United States. With today’s announcement, Fresenius Kabi expects to create a leading, comprehensive infusion therapy offering.”
Fresenius Kabi also announced that it acquired a 55% stake in mAbxience Holding worth approximately $548.6 million (€495 million) upfront with additional milestone payments tied to commercial and development target achievement. The deal also includes a put/call option scheme regarding the current owners’ remaining shares in mAbxience (45%).
mAbxience, a leading international biopharmaceutical company, develops biosimilars, including two commercialized biosimilar products (Rituximab and Bevacizumab) and a mid-single-digit number of molecules across immunology and oncology expected to be launched globally in the years 2024 to 2029.
“Through these acquisitions we are further strengthening and leveraging Fresenius Kabi’s position, as both perfectly complement the company’s growth businesses in biopharmaceuticals and medical technology,” Fresenius CEO Stephan Sturm said in a separate release. “We will continue allocating capital in a targeted manner to rigorously pursue the recently presented growth strategy of our health care group which has defined Fresenius Kabi as top priority. In this way, we are creating even better conditions for providing ever better medicine to ever more people. At the same time, we create meaningful value for our shareholders.”