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Based in Center Valley, PA, Avantor, Inc. (NYSE: AVTR) is a global leader in providing mission-critical products and services to customers in diverse industries such as life sciences, healthcare, education and government, as well as advanced technologies and applied materials. Avantor's portfolio includes high-performance chemistries and materials marketed under reputable brand names such as J.T.Baker®, Macron Fine Chemicals™, Rankem™, BeneSphera™, and POCH™. The company's offerings span materials and consumables, equipment and instrumentation, as well as services and specialty procurement.
Operating across three geographical segments—Americas, Europe, and AMEA—Avantor generates a majority of its revenue from the Americas. Recent strategic initiatives include a partnership with Tobin Scientific to support end-to-end biopharma logistics, enhancing Avantor's ability to provide cold chain and ambient storage solutions for lab relocations and sample transport. This collaboration ensures current Good Manufacturing Practice (cGMP) compliance and aims to streamline complex logistics, thereby allowing customers to focus on advancing their research.
In addition to its commitment to operational excellence, Avantor is making strides in sustainability. The company recently introduced an innovative packaging system that optimizes product-to-package ratios, significantly reducing shipping material usage. This system has already saved thousands of pounds of filler material, exemplifying Avantor's dedication to eco-friendly practices.
Financially, Avantor reported net sales of $1.72 billion for Q3 2023, a 7.3% decline compared to the previous year, largely due to organic sales dips and COVID-19 headwinds. Despite these challenges, Avantor achieved more than 110% free cash flow conversion, facilitating ongoing debt reduction. The company also reaffirmed its FY2023 guidance, underscoring its confidence in long-term growth prospects by implementing a new operating model and advancing a $300 million cost optimization initiative.
Avantor’s global footprint gives it access to over 300,000 customer locations in 180+ countries, thereby positioning it as a crucial partner in facilitating scientific breakthroughs and innovation. For more information, visit avantorsciences.com.
Avantor (NYSE: AVTR), a leading global provider in life sciences and advanced technologies, has been awarded a Bronze Medal from EcoVadis for the second consecutive year. The company's sustainability performance score of 65, awarded in August 2024, places it in the top 17% of over 130,000 companies rated globally. This represents a significant 15-point improvement from its 2023 score.
Avantor's 'Science for Goodness' sustainability platform focuses on four pillars: People & Culture, Innovation & Environment, Community Engagement, and Governance & Integrity. This framework aims to create long-term value for all stakeholders, including associates, customers, suppliers, stockholders, and communities.
The EcoVadis rating, based on international sustainability standards, validates Avantor's commitment to sustainability and provides an actionable roadmap for continuous improvement in areas such as Environment, Labor and Human Rights, Ethics, and Sustainable Procurement.
Avantor, Inc. (NYSE: AVTR), a global leader in providing important products and services to life sciences and advanced technology industries, has announced its participation in the Morgan Stanley 22nd Annual Global Healthcare Conference. The event will take place in New York on September 5, 2024.
Michael Stubblefield, President and CEO of Avantor, will engage in a fireside chat at approximately 10:45 a.m. Eastern Daylight Time. Interested parties can access a live audio webcast of the session through the Events & Presentations section of Avantor's investor relations website. The webcast replay will remain available for 30 days following the event.
Audax Private Equity has announced a definitive agreement to acquire Avantor's Clinical Services business (NYSE: AVTR). The deal is expected to close in Q4, subject to regulatory approvals. Clinical Services provides clinical trial and laboratory supply chain services to pharmaceutical and biotechnology companies, CROs, and diagnostic laboratories. Operating 10 facilities across the US, UK, and Europe, the business offers a global logistics and equipment services network.
The acquisition includes three primary offerings: EPL Archives, MESM, and Therapak, which provide active trial and post-trial sample storage, supply chain management, and packaging and logistics for sample collection. Audax plans to invest aggressively to expand the company's commercial and technical reach, leveraging its experience in corporate carveouts and the healthcare sector.
Avantor (NYSE: AVTR) has announced a definitive agreement to divest its clinical services business to Audax Private Equity for approximately $650 million. This strategic move aims to optimize Avantor's portfolio and sharpen its focus on lab and production businesses. The transaction, expected to close in Q4 2024, will generate about $475 million in after-tax cash proceeds, which will be used for debt paydown.
The divested business, part of Avantor's Laboratory Solutions segment, has around 800 employees and is projected to generate approximately $200 million in annual revenue for 2024. This divestiture aligns with Avantor's new operating model and is expected to strengthen the company's balance sheet while reducing interest expenses.
Avantor (NYSE: AVTR) reported its Q2 2024 financial results, showing a 2.4% decrease in net sales to $1.70 billion, with a 2.0% organic decline. The company's net income improved to $93 million from a loss in Q2 2023, while Adjusted EBITDA was $306 million with a 17.9% margin. Diluted GAAP EPS was $0.14, and adjusted EPS was $0.25. Avantor generated strong cash flow, with operating cash flow of $281 million and free cash flow of $235 million. The company reaffirmed its fiscal year 2024 guidance and reported sequential improvements in key financial metrics, including over 100 basis points of Adjusted EBITDA margin expansion.
Avantor announced the launch of two new products, J.T.Baker® Cell Lysis Solution and J.T.Baker® Endonuclease, aimed at optimizing the gene therapy harvest process. These products address biopharmaceutical demand for sustainable options while improving the efficiency and quality of viral particle harvests. The J.T.Baker® Cell Lysis Solution, a biodegradable alternative to Octoxynol-9, ensures low ecotoxicity and protects viral particles during processing. It also streamlines the harvest process by reducing contamination risks. In combination with J.T.Baker® Endonuclease, which removes residual impurities, these products offer scalable, efficient, and environmentally friendly solutions for gene therapy manufacturing.
Avantor (NYSE: AVTR), a global provider of vital products and services for the life sciences and advanced technology sectors, announced it will release its Q2 2024 financial results on July 26, 2024, before the market opens. The company will also host a conference call at 8:00 a.m. ET to discuss these results. The live audio webcast can be accessed via the Investor section on Avantor's website, with a replay available for 30 days.
Avantor (NYSE: AVTR) has announced the appointment of Corey Walker as President of its Laboratory Solutions business, effective June 21, 2024. Walker, who has previously held senior roles at Avantor and was most recently CEO of ILC Dover, brings extensive expertise in life sciences and advanced technologies. He will report to CEO Michael Stubblefield. Walker succeeds Randy Stone, who made significant contributions to the Laboratory Solutions segment. Avantor's new operating model, featuring two global segments – Laboratory Solutions and Bioscience Production – became effective in January 2024. The company reaffirms its fiscal year 2024 guidance as previously stated during its Q1 earnings call.
Avantor (NYSE: AVTR) released its 2024 Sustainability Report, detailing significant progress in 2023 across four key pillars: People & Culture, Innovation & Environment, Community Engagement, and Governance & Integrity.
Notably, Avantor met its 2025 greenhouse gas emissions reduction target two years early, achieving a 16.7% decrease from 2019 levels. The company has set new targets for 2030. Avantor earned a top score on the Human Rights Campaign's 2023 Corporate Equality Index and awarded over $1.2 million in grants for healthcare and STEM education. Additionally, Avantor launched a Responsible Supplier Program, enrolling 340 suppliers.
Avantor (NYSE: AVTR), a global provider of mission-critical products in life sciences and advanced technologies, announced that its President and CEO, Michael Stubblefield, will participate in a fireside chat at the Goldman Sachs 45th Annual Global Healthcare Conference. This event will take place on June 11, 2024, at 11:20 a.m. Eastern Time in Miami, Fla. A live audio webcast of the session will be available on the Avantor website, and a replay will be accessible for 30 days.
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