# Tecan to acquire Paramit Corporation for USD 1.0 billion

Tecan Group has entered into a definitive agreement to acquire Paramit Corporation, a US-based OEM developer and manufacturer of medical devices and life sciences instruments, for a total consideration of USD 1.0 billion (CHF 920 million). The acquisition will expand Tecan's capabilities in medical devices and strengthen its US and Asia presence.

- Type: Acquisition
- Announced: 2021-06-23
- Where: Morgan Hill, California, United States
- Value: $1.00B
- Status: announced
- Products: medical devices, life sciences instruments
- Sectors: [Medical Devices](https://endata.com/sectors/medical-devices.md)

## Companies

- [Paramit](https://endata.com/companies/21394.md) (target)
- [Altaris Capital Partners](https://endata.com/companies/31301.md) (investor)
- [Tecan Group](https://endata.com/companies/55993.md) (acquirer)

## Sources

- [tecan.com](https://www.tecan.com/corporate-news/tecan-expands-its-commercial-reach-its-capabilities-and-its-us-and-asia-presence-with-the-acquisition-of-paramit-corporation-2267), 2021-06-23: "Tecan to acquire Paramit Corporation, a leading OEM developer and manufacturer of medical devices and life sciences instruments, for a total consideration of USD 1.0 billion."
- [reuters.com](https://www.reuters.com/article/world/europe/swiss-group-tecan-to-buy-paramit-corp-for-1-billion-idUSKCN2DZ2A8/), 2021-06-23: "The transaction, set to wrap up within months pending approvals, should add to earnings per share immediately upon closing."
- [prnewswire.com](https://www.prnewswire.com/news-releases/paramit-corporation-announces-acquisition-by-the-tecan-group-301318857.html), 2021-06-23: "Paramit Corporation announced today that it has entered into a definitive agreement to be acquired by the Tecan Group for a total purchase consideration of USD 1.0 billion."
- [selectscience.net](https://www.selectscience.net/article/tecan-acquires-paramit-corporation), 2021-06-24: "The Tecan Group has announced that it has entered into a definitive agreement to acquire US-based Paramit Corporation and its affiliates for a total purchase consideration of USD 1.0 billion."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.