Azenta and the Government of Luxembourg Announce a Memorandum of Understanding to Facilitate Continued Healthcare Technology Development in Luxembourg

Rhea-AI Summary

Azenta, Inc. (Nasdaq: AZTA) and the Government of Luxembourg signed a Memorandum of Understanding (MoU) to enhance healthcare technology development in Luxembourg. This agreement, signed by Minister of Economy Franz Fayot and Azenta CEO Steve Schwartz, supports continued operations of B Medical Systems—recently acquired by Azenta. The MoU aims to foster collaboration on future research and innovation initiatives. Minister Fayot emphasized the importance of this partnership in showcasing Luxembourg's health technology sector. Azenta plans to leverage its global network to expand B Medical Systems' market reach.

Positive

• Signing of MoU facilitates healthcare technology development in Luxembourg.
• Acquisition of B Medical Systems expected to enhance market access for Azenta.
• Strong governmental support for B Medical Systems' future projects.

Negative

• None.

CHELMSFORD, Mass., Nov. 8, 2022 /PRNewswire/ -- Azenta, Inc. (Nasdaq: AZTA) and the Government of Luxembourg today announced the signing of a Memorandum of Understanding ("MoU") to facilitate continued healthcare technology development in Luxembourg. The Minister of the Economy of Luxembourg, Mr. Franz Fayot, and the President and CEO of Azenta, Steve Schwartz, signed the MoU at Azenta's Massachusetts-based global headquarters. Azenta, Inc. had recently acquired B Medical Systems, a leading global vaccine, and medical cold chain provider, based in Luxembourg.

The MoU signing ceremony was attended by several senior dignitaries from the Ministry of the Economy of Luxembourg, Ministry of Higher Education and Research of Luxembourg, Luxembourg Trade and Investment Office in New York, Luxinnovation and Azenta, Inc. Mr. Luc Provost, CEO of B Medical Systems, and Mr. Jesal Doshi, Deputy CEO of B Medical Systems, represented B Medical Systems, a subsidiary of Azenta, during the ceremony.

Confirming Azenta's desire to preserve the production activities of its subsidiary in Luxembourg, B Medical Systems, and to continue the projects undertaken by the subsidiary until then, the memorandum of understanding confirms the intention of the Ministry of the Economy to continue to support the development of the company in Luxembourg. The acquisition by Azenta should also give B Medical Systems access to new markets, thanks to the group's extensive network of customers in countries where B Medical Systems has not previously had a significant presence.

The MoU signing ceremony was followed by a visit to Azenta's genomics lab in Waltham, Massachusetts by the delegation of the Ministry of Health led by the Vice Prime Minister and Minister of Health, Ms. Paulette Lenert, and the delegation of the Ministry of the Economy led by the Minister of Economy, Mr. Franz Fayot.

The Minister of the Economy Franz Fayot stated: "The fact that a world-renowned company such as Azenta has acquired B Medical Systems, one of our industrial flagships, demonstrates the dynamism of the Luxembourg health technology sector, which is one of the pillars of Luxembourg's economic diversification strategy. Through this memorandum of understanding, our objective is to continue the good collaboration that already existed with B Medical Systems, particularly in its future research, development and innovation projects, as well as to identify possible synergies."

"We look forward to continued partnership and engagement with the Government of Luxembourg. B Medical Systems, which recently became a part of Azenta, has a long history of operations in Luxembourg, and we intend to build upon this already strong track record of growth and innovation," said Steve Schwartz, President and CEO of Azenta.

About Azenta Life Sciences

Azenta, Inc. (Nasdaq: AZTA) is a leading provider of life sciences solutions worldwide, enabling impactful breakthroughs and therapies to market faster. Azenta provides a full suite of reliable cold-chain sample management solutions and genomic services across areas such as drug development, clinical research and advanced cell therapies for the industry's top pharmaceutical, biotech, academic and healthcare institutions globally. Azenta recently acquired B Medical Systems, a leading global vaccine, and medical cold chain provider, based in Luxembourg.

Azenta is headquartered in Chelmsford, MA, with operations in North America, Europe and Asia. For more information, please visit www.azenta.com.

AZENTA CONTACTS:
Sara Silverman
Head of Investor Relations
978.262.2635
ir@azenta.com

Sherry Dinsmore
978.262.2400
sherry.dinsmore@azenta.com

 

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SOURCE Azenta, Inc.

FAQ

What does the MoU between Azenta and Luxembourg entail?

The MoU aims to enhance healthcare technology development and support the operations of B Medical Systems in Luxembourg.

When was the MoU signed between Azenta and the Luxembourg government?

The MoU was signed on November 8, 2022.

What is the significance of the MoU for Azenta's subsidiary in Luxembourg?

The MoU ensures continued support for B Medical Systems and its future research and innovation projects.

How does Azenta plan to benefit from the MoU signed with Luxembourg?

Azenta aims to leverage its global customer network to enhance B Medical Systems' market presence.

Who signed the MoU for Azenta and Luxembourg?

The MoU was signed by Azenta CEO Steve Schwartz and Luxembourg's Minister of Economy Franz Fayot.