Synergy Health Acquires Italian Sterilization Company Bioster SpA

UK-based sterilization services provider Synergy Health has acquired Bioster SpA and its affiliated companies for $39.6 million.

Bioster, located in Bergamo, Italy, has ethylene oxide and accelerated electron sterilization facilities in Italy, Slovakia and the Czech Republic, complementing Synergy’s current operating sites in Germany, Switzerland, France and the Netherlands.

"This acquisition further strengthens our position in Europe, giving us broader geographical access to the medical device and pharmaceutical sterilization markets in Southern and Eastern Europe,” said Richard Steeves, Synergy Group CEO. “We are looking forward to working with the staff and management of the Bioster Group to build on their reputation for delivering service excellence, and looking forward to expanding the partnership with their customers."

The deal, expected to close in the next few days, will be funded by Synergy's existing credit lines. The cash consideration will come on a cash and debt- free basis, the company said.
Synergy expanded into the US market in June 2012 with the $42 million purchase of US supply chain management company Surgical Express. — Kellen Owings

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