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Malaysia's Navis to exit Europe medical cold chain company

Nasdaq-listed Azenta to acquire entire stake in vaccine storage provider B Med

B Medical Systems, purchased by Navis in 2015, is the world’s largest vaccine cold chain provider. (Source photos from company website)

HANOI -- Southeast Asian private equity company Navis Capital Partners said in a statement that it will sell its entire stake in Luxembourg-based medical cold chain provider B Medical Systems (B Med) to Nasdaq-listed life sciences company Azenta.

Azenta said in a separate announcement that it will pay 410 million euros at the closing of the transaction in October, while another cash consideration of up to 50 million euros may be paid upon reaching performance milestones.

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