Danaher Corporation (NYSE: DHR) today announced that it has signed an agreement to sell its label-free biomolecular characterization, chromatography hardware and resins, and microcarriers and particle validation standards businesses to Sartorius AG for approximately $750 million. The combined revenue of the businesses, which are part of Danaher's Life Sciences segment, was approximately $140 million in 2018.

Danaher entered into the agreement to sell these businesses as a step towards obtaining regulatory approval for its pending acquisition of the GE Biopharma business, and the closing of the Sartorius AG agreement is conditioned upon Danaher's closing its acquisition of the GE Biopharma business. Danaher's acquisition of the GE Biopharma business, the proposed regulatory remedies (the package of businesses being sold), the approval of Sartorius as the buyer in such remedies, and Sartorius' acquisition described above all remain subject to approvals from various regulatory authorities.

Thomas P. Joyce, Jr., President and Chief Executive Officer, stated, "This represents a significant step in the regulatory process toward closing the GE Biopharma acquisition. While timing around meeting all closing conditions, including regulatory approvals, is still uncertain, we remain very encouraged by the progress to date and expect closing of the transaction in the first quarter of 2020."

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