(Reuters) -Medical equipment maker Danaher Corp said on Thursday it would buy privately held biotech company Aldevron in an all-cash deal for about $9.6 billion, snapping up a supplier to COVID-19 vaccine maker Moderna Inc.<\/p>\n
U.S.-based Aldevron has a contract to supply Moderna plasmid DNA required to make the drugmaker\u2019s mRNA vaccine, which has been authorized for use in more than 40 countries including the United States.<\/p>\n
Danaher also has an agreement with the U.S. government to expand the manufacturing of products needed to make COVID-19 vaccines.<\/p>\n
Aldevron, majority owned by Swedish fund EQT, also produces mRNA and proteins for biotechnology and pharmaceutical customers across research, clinical and commercial fields.<\/p>\n
North Dakota-headquartered Aldevron, which has about 600 employees, will operate as a standalone company within its Life Sciences segment, Danaher said.<\/p>\n
Danaher said it expects to finance the deal using cash on hand and\/or proceeds from issuing commercial paper.<\/p>\n
Morgan Stanley was the exclusive financial adviser to Aldevron, while Simpson Thacher & Bartlett LLP provided legal counsel.<\/p>\n
Danaher\u2019s shares rose about 4% in morning trading.<\/p>\n