The Tecan Group completed the acquisition of Paramit from Altaris for $1bn.

The Tecan Group, a global provider of laboratory instruments and solutions in biopharmaceuticals, forensics and clinical diagnostics, completed the acquisition of Paramit, an FDA-registered manufacturer of medical devices and life science instruments, from Altaris, an investment firm focused exclusively on the healthcare industry, for $1bn. The transaction will create a combined global platform with world-class design, development and manufacturing capabilities and scale to provide unparalleled support to customers in the fastest growing segments of healthcare. In addition, Paramit will be able to enhance Tecan's service offering for its existing OEM customer base and leverage Tecan's strong commercial channels to further expand Paramit's reach in the European and Asian markets, including China, and beyond.