The acquisition will significantly accelerate Tecan's entry into the medical device market and build Paramit's capabilities and market leadership in life sciences and in vitro diagnostics, the companies said in a statement. The deal will expand Paramit's reach in the European and Asian markets, including China.

The acquisition will result in a combined global platform with design, development, and manufacturing capabilities within the healthcare segment, the companies said.

Paramit has been privately held by Altaris Capital Partners, a healthcare investment firm based in New York, NY, since 2011. The transaction is expected to close in the coming months, subject to customary closing conditions.

Synthace, Tecan partner to accelerate process development
Synthace and the Tecan Group have partnered to use their shared resources to help customers run flexible, end-to-end multiplexed purification workflows.