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Tuesday, Oct 3, 2023

IRIS International to be Acquired by Danaher Corp

Chatsworth-based IRIS International Inc., a leading manufacturer of automated in-vitro diagnostics systems, announced today that it has entered into an agreement to be acquired by Danaher Corp. “The Board of Directors voted unanimously to accept Danaher’s proposal as it provides for an immediate compelling cash premium realization for our shareholders. Further, IRIS will benefit from being a part of a larger organization with significant resources to enable the acceleration of its diversified product pipeline strategy,” said Cesar M. Garcia, president and CEO of IRIS in a prepared statement. An affiliate of Danaher is expected to commence a tender offer for all of IRIS’ outstanding common stock in the next seven days. It is conditioned upon at least a majority of IRIS’ outstanding shares being tendered and other customary conditions. Upon closing, IRIS will become part of Danaher’s Beckman Coulter Diagnostics business. Danaher is making the acquisition for $19.50 per share in cash, representing an approximate 45 percent premium over the closing price of IRIS’s common stock on Sept. 14. Kelly Goff

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