Fair trade regulator CCI has approved the proposed acquisition of Siemens' microbiology testing business by Beckman Coulter, saying the deal does not raise anti-competition concerns in the country.
The proposed deal involves acquisition of microbiology testing business from Siemens group company Siemens Healthcare Diagnostics and various other subsidiaries by Beckman Coulter and its subsidiaries globally.
The assets in India related to microbiology testing business, which are mostly customer contracts, would be transferred from Siemens India to Beckman Coulter India.
Beckman Coulter, part of Danaher Corporation, manufactures and markets products which simplify, automate and innovate complex biomedical testing.
In an order, the Competition Commission of India (CCI) said that "the proposed combination is not likely to have an appreciable adverse effect on competition in India".
The fair trade regulator noted that "no subsidiary of Danaher Corporation including Beckman Coulter and Beckman Coulter India has any activities in the bacteriology and mycology testing market or even in the broader segment of microbiology in vitro diagnostics, in India".
"Therefore, it is observed that there is no overlap between the activities of the acquirers in India and the microbiology testing business of Siemens India," CCI said.
It also observed that as Beckman Coulter, Beckman Coulter India and the subsidiaries of Danaher Corporation do not supply any product to Siemens India related to microbiology testing business, as "there is no existing vertical relationship between the parties to the combination".
Following a 'Master Asset Purchase Agreement' entered into between Siemens Healthcare Diagnostics and Beckman Coulter on July 11, 2014, following which they had approached the Commission for its clearance on August 11.
