A medical technology and research firm has been sold for £2.25 billion. Birmingham-based The Binding Site has been acquired by scientific instrument supplier Thermo Fisher Scientific, which is listed on the New York Stock Exchange, from its private equity owners Nordic Capital and Five Arrows, which is part of the Rothschild group.
The company, which originally formed as a spinout from University of Birmingham in 1983, makes medical tools aimed at improving the detection, diagnosis and management of blood cancers and immune system disorders.
It has been owned by Nordic Capital and Five Arrows since 2011, during which time it has transformed from being a founder-led, research-based organisation, with revenues climbing fivefold to £200 million this year.
