Since 1995, biotechnologists have provided DNA synthesis products and services for domestic biological laboratories and scientific research institutions. In 2002, BBI was established, and Gong Sheng Bio's equity and business were integrated. In 20 14, in the last wave of IPO in life science, BBI briefly landed on the Hong Kong Stock Exchange. Six years later, the founding team privatized BBI for HK$ 845 million.
Since then, although it is reported that BBI will apply for listing on the science and technology innovation board, what people finally expect is a possible grand industrial merger.
"Sinopharm and BBI's founding team communicated the possibility of M&A transaction. At the same time, the BBI founding team is also in contact with other potential acquirers. " Bloomberg wrote in the news. In other words, even if Sinopharm offered a price close to 10 times BBI's delisting valuation two years ago, it was still not fully grasped.
In fact, just the day after the news that BBI will be merged, Median, another IVD raw material manufacturer, announced that it would be offered $6543.8+$53 million for merger and acquisition. The purchaser is the Korean diagnostic company SD, which produces POCT COVID-19 reagent for Roche Diagnostic Company. These two consecutive heavy acquisitions have once again pushed the gold-sucking frenzy of life science tools to a high point.
Neither Sinopharm Holdings nor BBI responded to the acquisition. However, after combing the arterial network, it is found that there is no deep business overlap between the two in the past operation. So what kind of company is BBI? What is the logic behind this transaction? Will Sinopharm Group also exert its life science tools? We tried to answer.