XML 37 R31.htm IDEA: XBRL DOCUMENT v3.25.1
Subsequent Events
3 Months Ended
Mar. 31, 2025
Subsequent Events [Abstract]  
Subsequent Events
22.
Subsequent Events

On April 14, 2025, the Company acquired 69.6% of the share capital of RECIPE Chemicals + Instruments GmbH (“RECIPE”) and its majority-owned subsidiary, WoBau GmbH (“WoBau”) for EUR 57.6 million (approximately $65.3 million). RECIPE is a leading provider of vendor-agnostic therapeutic drug monitoring and other clinical in vitro diagnostic kits for liquid chromatography-mass spectrometry systems/mass spectrometry systems, high performance liquid chromatography, and inductively coupled plasma mass spectrometry assays.

Concurrently with the acquisition, the Company entered into an agreement with the noncontrolling interest holder of RECIPE that provides the Company with the right to purchase, and the noncontrolling interest holder with the right to sell the remaining 30.4% of RECIPE based on a contractually defined pricing formula beginning in 2029. These rights may be accelerated based on certain events post-acquisition events. In addition, the agreement provides the Company with the right to purchase the remaining 10.1% of WoBau based on a contractually agreed upon pricing formula beginning 10.5 years after the acquisition.