Fujifilm, a brand best known as a photography specialist, has announced it will be acquiring two healthcare companies in a move that will make its operations more diversified.
The Japanese imaging firm will be purchasing Irvine Scientific Sales Company and IS Japan in a deal worth USD 800 million (GBP 569 billion).
“Fujifilm has announced the acquisition of Irvine Scientific Sales Company and IS Japan in a multi-million-dollar deal.“
This deal will enable Fujifilm to play an important role in accelerating the growth of cell culture media, which contain essential nutrients to assist with the growth and proliferation of biological cells.
As a result, Fujifilm's acquisitions will see the brand diversify into the fields of biopharmaceutical manufacturing and research and development for the first time.
Irvine Scientific Sales Company operates primarily in the US and Europe, while IS Japan's key market is Japan and wider Asia. Fujifilm will therefore be entering into the consumer healthcare space with an immediate reach, spanning many of the sector's major markets.
Both of the newly acquired companies are suppliers of culture media to universities, pharmaceutical firms and bio-ventures across the globe.
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