Qiagen names new CEO as private equity sale talks advance
Qiagen has appointed Jonathan Pratt as CEO, bringing in an executive with recent experience overseeing a multibillion-dollar sale as the European molecular diagnostics company considers a potential takeover by private equity firms, according to a report by Bloomberg.
Qiagen has appointed Jonathan Pratt as its new CEO, signaling potential takeover talks by private equity firms, according to Bloomberg. Pratt, formerly the CEO of Filtration Group, led the industrial technology company through its $9.25bn cash sale to Parker Hannifin. His appointment takes effect on September 1st, as Qiagen undergoes a strategic review that may lead to acquisition.
The company has opened a data room, allowing potential buyers to review its operations and financials. EQT and KKR are among the firms exploring bidding options, with some considering partnerships with strategic industry players. Discussions are ongoing, and no guarantees exist for a successful offer. As of Monday, Qiagen's shares were trading 3.4% lower at $42.57, suggesting a company valued around $8.8bn.
Earlier reports suggested some bidders had viewed offers at least $50 per share. A takeover would be one of Europe's largest healthcare transactions this year, potentially concluding years of speculation over Qiagen's ownership.
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