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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
picture of handshake
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.”

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