Azenta and the Luxembourg government sign a memorandum of understanding to promote the further development of health technologies in Luxembourg

Steve Schwartz, President and CEO of Azenta (left), and Minister of Economy Franz Fayot (right) after signing the Memorandum of Understanding – Image source: Azenta Inc.

Azenta, Inc. (Nasdaq: AZTA) and the Luxembourg government announce the signing of a Memorandum of Understanding (MoU) to promote further development of healthcare technologies in Luxembourg. Luxembourg's Minister of the Economy, Franz Fayot, and the President and CEO of Azenta, Steve Schwartz, signed the declaration of intent at Azenta's global headquarters in Massachusetts.

In August 2022, Azenta, Inc. acquired B Medical Systems, a globally leading provider of vaccines and medical cold chain solutions based in Luxembourg. B Medical Systems has been supplying medical cold chain products worldwide from Luxembourg for 40 years. The company relies on the country's strategic location, workforce, and transportation infrastructure for the rapid delivery of products worldwide. B Medical Systems has delivered over 70,000 cold chain units to more than 140 countries for their effective COVID-19 immunization programs and was also the exclusive supplier of the Luxembourg COVID-19 vaccine cold chain solution.

Several high-ranking representatives of the Luxembourg Ministry of the Economy, the Ministry of Higher Education and Research, the Luxembourg Trade and Investment Office in New York, Luxinnovation, and Azenta, Inc. participated in the ceremonial signing of the MoU. 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.

The declaration of intent affirms Azenta's commitment to maintaining the production activities of its Luxembourg subsidiary, B Medical Systems, and continuing the projects carried out by the subsidiary, as well as the Ministry of Economy's intention to further support the company's development in Luxembourg. The acquisition by Azenta is also intended to give B Medical Systems access to new markets, as the group has an extensive customer network in countries where B Medical Systems has not been strongly present so far.

Following the ceremonial signing of the MoU, the delegation from the Ministry of Health, led by Vice Prime Minister and Minister of Health Paulette Lenert, and the delegation from the Ministry of the Economy, led by Minister Franz Fayot, visited Azenta's genomics laboratory in Waltham, Massachusetts.

"The fact that a world-renowned company like Azenta has acquired B Medical Systems, one of our industrial flagships, demonstrates the dynamism of Luxembourg's healthcare technology sector, which is one of the pillars of Luxembourg's strategy for economic diversification," said Minister of the Economy Franz Fayot. "With this MoU, we aim to continue the good cooperation with B Medical Systems, especially in future research, development, and innovation projects, and to identify potential synergies."

"We look forward to further partnership and engagement with the Luxembourg government," added Steve Schwartz, President and CEO of Azenta. "B Medical Systems, which recently became part of Azenta, has a long tradition in Luxembourg, and we want to build on this already strong track record of growth and innovation."