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Horizon Discovery completes US$85mln Dharmacon acquisition

The US$85mln deal was announced in July and funded through cash and shares

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The US$85mln deal was announced in July

Horizon Discovery Group PLC (LON:HZD) has completed the acquisition of GE healthcare business Dharmacon.

The US$85mln deal was announced in July and funded through cash and shares and an accompanying £80mln placing.

WATCH: Acquisition gives Horizon Discovery a 'full and complete suite of tools' to power growth

Darrin Disley, Horizon Discovery’s chief executive, said in a statement: "We are delighted to have completed the transformational acquisition of Dharmacon and look forward to working closely with our new colleagues and providing an expanded array of research solutions to a cumulative customer base now exceeding 10,000 in number. 

“Dharmacon is a global leader in gene modulation products with a fast growing gene-editing product portfolio which are highly complementary to the gene editing, translational genomics, personalised medicine, cell and gene therapy products and services of Horizon."

READ: Horizon Discovery can be transformed by Dharmacon acquisition suggests RBC

He added: “The combined business creates a global leader in the application of gene modulation and gene editing technologies - two rapidly growing and important areas of life science research.

"We expect the strong commercial synergies in markets, sales channels, and brand strength to accelerate revenue growth and margin expansion.”

Quick facts: Horizon Discovery Group PLC

Price: 165 GBX

AIM:HZD
Market: AIM
Market Cap: £248.22 m
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