Waters Corporation Announces Agreement to Purchase NuGenesis Technologies Corporation
MILFORD, Mass.–Waters Corporation (NYSE: WAT) today announced that it has entered into a definitive merger agreement to acquire the outstanding capital stock of privately held Massachusetts-based NuGenesis Technologies Corporation for approximately $43 million, subject to the satisfaction of certain conditions contained in the merger agreement. The transaction is expected to be completed in the first quarter of 2004. On a pro-forma basis and prior to giving effect to anticipated acquisition charges, the transaction is expected to be neutral to Waters 2004 earnings.
With 2003 annual sales of more than $21 million, NuGenesis Technologies is an innovator and a leading supplier of advanced web-based scientific information management software products. These products integrate into existing information technology infrastructures and offer improvements in data management efficiency while supporting regulatory requirements such as 21 CFR Part 11. NuGenesis Technologies’ list of current customers includes the world’s largest pharmaceutical and chemical companies.
Commenting on the announcement, Douglas Berthiaume, Waters Chairman, President and CEO said, “The acquisition of NuGenesis Technologies and their successful NuGenesis(R) Scientific Data Management System (SDMS) in combination with the products and technologies from the July 2003 acquisition of Creon Lab Control, clearly will position Waters as a leader in the expanding field of scientific information management.”
About NuGenesis Technologies:
Established in 1996, NuGenesis Technologies Corporation is headquartered in Westborough, MA. The Company develops and markets the NuGenesis(R) Scientific Data Management System (SDMS), which significantly improves the value of information in life science organizations. NuGenesis Technologies, with offices in the United States, Europe and through its distribution arrangements around the globe, is currently focused on targeted market solutions for the pharmaceutical, biotechnology, chemical and other science-based industries.
About Waters Corporation:
Waters Corporation holds worldwide leading positions in three complementary analytical technologies – high performance liquid chromatography (HPLC), mass spectrometry (MS) and thermal analysis (TA). These markets account for approximately $4.4 billion of the overall estimated $20 billion analytical instrumentation market. For further information about Waters Corporation, please visit the Company’s corporate information web site at www.waters.info.
Certain statements contained herein are forward looking. Many factors could cause actual results to differ from these statements, including delays in product introductions, loss of market share through competition, introduction of competing products by other companies, pressures on prices from competitors and/or customers, regulatory obstacles to new product introductions, lack of acceptance of new products, changes in the healthcare market and the pharmaceutical industry, changes in distribution of the Company’s products, and foreign exchange fluctuations. Such factors are discussed in detail in the Company’s filings with the Securities and Exchange Commission.