Harvard Bioscience buys U.K. manufacturer

The U.K. subsidiary of Harvard Bioscience, a manufacturer/marketer of drug-discovery products, acquired Cambridge, England-based Walden Precision Apparatus, which manufactures and markets diode-array spectrophotometers. Terms of the deal were not disclosed.

In addition to expanding the product offerings of Harvard Bioscience’s Biochrom subsidiary, the acquisition gives the company an entry to the $100 million low-cost spectrophotometer market. The acquisition is expected to contribute about $750,000 in revenue this year and approximately $2 million in 2003. It is expected to contribute to profits in the third quarter of 2002.

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