Caliper may also sublease 10,000 sq. ft. of its production and office space.
Caliper Life Sciences is divesting its pharmaceutical development and quality analysis (PDQ) product line to Sotax for $13.8 million in cash. Sotax will also assume an estimated $2 million in liabilities.
“Divesting the PDQ product line is an important milestone in our strategy to focus on core technologies in imaging, microfluidics, and sample preparation and to strengthen our balance sheet by rationalizing nonstrategic product segments,” points out Kevin Hrusovsky, president and CEO of Caliper.
To also reduce facility costs, Caliper says that it may enter into a long-term lease agreement to sublease approximately 10,000 square feet of manufacturing and office space to Sotax on a market-rate basis.
“This acquisition represents an opportunity for Sotax to expand its worldwide presence, especially in the United States and the United Kingdom and is an important step in achieving our strategic growth objectives,” notes Rolf Benz, president and CEO of Sotax Holding, the parent company of Sotax.
Caliper’s PDQ product line is used for drug-content uniformity, dissolution-rate testing, and related services. It comprises TPW3™, a tablet processing workstation; APW3™, an active ingredient processing workstation; MultiDose® G3, a dissolution workstation, and other products.