Azenta Announces Agreement Between B Medical and The Ministry of Public Health, Hygiene and Prevention of the Democratic Republic of the Congo for a Significant National Universal Health Project

Rhea-AI Summary

Azenta, Inc. (Nasdaq: AZTA) announced a Memorandum of Understanding (MOU) between B Medical Systems S.à r.l and The Ministry of Public Health, Hygiene and Prevention of the Democratic Republic of the Congo for a €100 million National Vaccination Service project. This project includes the delivery of a complete solution for vaccine storage and transport, Toyota vehicles customized with cold chain solutions, and other equipment, with over 50% of the project value expected to be recognized as B Medical revenue for Azenta.

BURLINGTON, Mass., Nov. 13, 2023 /PRNewswire/ -- Azenta, Inc. (Nasdaq: AZTA) today announced that B Medical Systems S.à r.l ("B Medical") and The Ministry of Public Health, Hygiene and Prevention of the Democratic Republic of the Congo (DRC) (the "Ministry") have entered into a Memorandum of Understanding ("MOU") for B Medical to deliver a complete solution suitable for the storage and transport of vaccines with real-time traceability, as well as the delivery of Toyota vehicles, which have been customized with B Medical cold chain solutions, and other complementary equipment under a new €100 million National Vaccination Service project in the DRC. More than 50% of the project value is expected to be recognized as B Medical revenue for Azenta.

The Ministry is responsible for developing and implementing health policies, plans and strategies in the DRC and has selected B Medical as its cold chain solutions partner in its new National Vaccination Service ("SNAV"). SNAV will address the entire health structure in the DRC all the way down to the local health area level to reach the entire population.

"Over the past four decades, B Medical has demonstrated a clear ability to quickly and effectively address the urgent health needs of the DRC. We look forward to continuing and strengthening our partnership with B Medical to support the well-being of the Congolese population," stated Dr. Samuel Roger Kamba, Minister of Public Health, Hygiene and Prevention of the DRC.

"We are proud to be selected as the key cold chain solutions provider for this significant humanitarian initiative in the DRC," stated Luc Provost, VP, CEO B Medical. "Our manufacturing operations in Luxembourg are ready to step-up to meet the needs of this order, which is the largest ever for our business, and we expect to deliver the shipments to the DRC in fiscal 2024."

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 multiomics 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. Our global team delivers and supports these products and services through our industry-leading brands, including GENEWIZ, FluidX, Ziath, 4titude, Limfinity, Freezer Pro, Barkey and B Medical Systems.

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

INVESTOR CONTACTS:
Sara Silverman
Head of Investor Relations & Corporate Communications
ir@azenta.com

Sherry Dinsmore
sherry.dinsmore@azenta.com

"Safe Harbor Statement" under Section 21E of the Securities Exchange Act of 1934

Some statements in this release are forward-looking statements made under Section 21E of the Securities Exchange Act of 1934. These statements are neither promises nor guarantees but involve risks and uncertainties, both known and unknown, that could cause Azenta's financial and business results and the forward-looking statements in this release to differ materially from our expectations. These statements are based on the facts known to management at the time they are made. Forward-looking statements include but are not limited to statements about: the memorandum of understanding (MOU) with The Ministry of Public Health, Hygiene and Prevention of the Democratic Republic of the Congo (the "Ministry"), the timing and/or amount of revenue to the Company from the MOU, and the potential benefits of any future partnership with the Ministry. Factors that could cause results to differ from our expectations include the following: our ability to reduce costs effectively, the impact of the COVID-19 global pandemic on the markets we serve, including our supply chain, and on the global economy generally; the volatility of the life sciences markets Azenta serves; our possible inability to meet demand for our products due to difficulties in obtaining components and materials from our suppliers in required quantities and of required quality; the inability of customers to make payments to us when due; price competition; disputes concerning intellectual property; uncertainties in global political and economic conditions; our ability to successfully invest the cash proceeds from the sale of our semiconductor automation business; and other factors and other risks, including those that we have described in our filings with the Securities and Exchange Commission, including but not limited to our Annual Report on Form 10-K, Current Reports on Form 8-K and our Quarterly Reports on Form 10-Q. As a result, we can provide no assurance that future results will not be materially different from the forward-looking statements in this release. Azenta expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in our expectations or any change in events, conditions, or circumstances on which any such statement is based. Azenta undertakes no obligation to update the information contained in this press release.

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SOURCE Azenta

FAQ

What is the Memorandum of Understanding about?

The MOU is for a €100 million National Vaccination Service project in the Democratic Republic of the Congo, involving the delivery of vaccine storage and transport solutions, customized Toyota vehicles, and other equipment.

What percentage of the project value is expected to be recognized as B Medical revenue for Azenta?

Over 50% of the project value is expected to be recognized as B Medical revenue for Azenta.

Who is responsible for developing and implementing health policies in the DRC?

The Ministry of Public Health, Hygiene and Prevention of the Democratic Republic of the Congo is responsible for developing and implementing health policies in the DRC.

What is SNAV?

SNAV is the new National Vaccination Service in the DRC, aiming to address the entire health structure in the country down to the local health area level to reach the entire population.

What is the expected timeline for delivering the shipments to the DRC?

B Medical expects to deliver the shipments to the DRC in fiscal 2024.