Holliston, MA 10/27/16—Harvard Bioscience, a provider of life science solutions, announced in its third quarter earnings report that it will divest its AHN business for $1.7 million. With 2015 revenues of $2.5 million, German-based AHN provides liquid handling products. “We are also announcing the divestiture of our AHN subsidiary which we have deemed to be non-strategic to our core assets,” stated Harvard Bioscience President and CEO Jeffrey Duchemin. “We remain confident in our business, our people and our long-term strategy.”
Mr. Duchemin stated on the company’s quarterly conference call, “Although the business was an interesting one for our portfolio, AHN required substantial capital to continue to grow without meaningful future leverage or synergies with our existing business. These dynamics were further underscored by the relative size of AHN within our overall business.” Harvard Bioscience’s Biochrom subsidiary acquired the business in 2012 (see IBO 4/30/12). AHN’s main product offerings include pipette tips and filter tips.