COLUMBUS, Ohio, March 24, 2021 /PRNewswire/
-- Mettler-Toledo International Inc. (NYSE: MTD) today
announced that it completed the acquisition of PendoTECH, a
manufacturer and distributor of single-use sensors, transmitters,
control systems and software for measuring, monitoring and data
collection primarily in bioprocess applications. PendoTECH's focus
is serving bio-pharmaceutical manufacturers and life science
laboratories. The company is based in Princeton, New Jersey, with a majority of its
sales in North America. Acquisition consideration includes a
$185 million initial payment,
contingent consideration of up to $20
million and other post-closing amounts.
Olivier Filliol, President and
Chief Executive Officer, commented, "We are a global leader in
real-time measurement of key process control parameters used in
bioprocessing, including sensors to monitor pH, dissolved oxygen,
carbon dioxide and other parameters. PendoTECH is an excellent
strategic fit as it expands our offering to include various
sensors, including pressure, which is an important and common
control parameter in downstream and upstream bioprocess
applications. The company is known for its leading-edge innovation
in single-use sensors that are becoming increasingly important in
bioproduction. The combination of our Process Analytics and
PendoTECH products and technologies creates one of the most
comprehensive sensor offerings in the bioprocess market today. The
outlook for the bioprocessing market is excellent, and we see
attractive opportunities to cross-sell and expand PendoTECH's
global reach. Customers will also benefit from using various
sensors with harmonized interfaces and expanded integration
capabilities."
METTLER TOLEDO (NYSE: MTD) is a
leading global supplier of precision instruments and services. We
have strong leadership positions in all of our businesses and
believe we hold global number-one market positions in most of them.
We are recognized as an innovation leader and our solutions are
critical in key R&D, quality control and manufacturing
processes for customers in a wide range of industries including
life sciences, food and chemicals. Our sales and service network is
one of the most extensive in the industry. Our products are sold in
more than 140 countries and we have a direct presence in
approximately 40 countries. With proven growth strategies and a
focus on execution, we have achieved a long-term track record of
strong financial performance. For more information, please visit
www.mt.com.
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Section 27A of the U.S. Securities Act of 1933 and Section 21E of
the U.S. Securities Exchange Act of 1934. You should not rely on
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New risks also periodically arise. Please consider the risks and
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uncertain duration and severity of the COVID-19 pandemic. See in
particular "Factors Affecting Our Future Operating Results" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations" in our Annual Report on Form 10-K for the
year ended December 31, 2020 and
other reports filed with the SEC from time to time.
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SOURCE Mettler-Toledo International Inc.