Simpson Thacher is representing Advanced Instruments, a Patricia Industries portfolio company, and Patricia Industries in connection with Advanced Instruments’ announced execution of a definitive agreement to acquire Nova Biomedical Corporation from its founding shareholders for an enterprise value of $2.2 billion. The acquisition will be funded with a combination of external debt and equity provided by Patricia Industries. Closing is subject to approval by relevant regulatory authorities and is expected during the third quarter of 2025.
Nova is a global provider of analytical instruments and consumables for the biopharmaceutical and clinical markets. Nova’s innovative products are used in over 100 countries by leading biopharmaceutical companies and hospitals. Nova is headquartered in Waltham, Massachusetts and has approximately 1,500 employees.
Advanced Instruments is a global provider of scientific and analytical instruments for the biotechnology, clinical, and food & beverage industries. Advanced Instruments has a diverse portfolio of products, including freezing point osmometers, cerebrospinal fluid cell counters, anaerobic jar systems, cryoscopes, pasteurization test systems, and testing standards and controls. Advanced Instruments is headquartered in Norwood, Massachusetts and has approximately 350 employees.
Patricia Industries is a long-term owner that invests in companies and works to develop each company to its full potential. Patricia Industries is a part of the industrial holding company Investor AB, whose main owner is the Wallenberg Foundations.
The Simpson Thacher team for this transaction included Michael T. Holick, Keegan Lopez, Eilidh Reid, Dan Kim and Natasha Kandi (M&A); Sophie Staples, Andrew Mandelbaum and Roberto Arza (Tax); Jeannine McSweeney, Scott Schilson and Sam Elmi (Executive Compensation & Employee Benefits); Ben Persina, Janhvi Barthwal and Alex Cullen (Credit); Krista McManus, Dennis Loiacono and Helene Snyder (Real Estate); Vanessa Burrows and Jake Madden (Healthcare Regulatory); and Lori Lesser and Christian Bond (Data Privacy and Cybersecurity).