Chart Industries on Thursday confirmed it had completed its divestiture of its cryobiological products business (MVE Biological Products) to temperature-controlled logistics company Cryoport.
In a statement, Cryoport, who also acquired CRYOPDP recently, said the two additions will add significant capabilities and competencies as well as markedly expand its client coverage of the global cell and gene therapy market.
A global leader in manufactured vacuum insulated products and cryogenic freezer systems and solutions, Cryoport said MVE generated revenue of approximately $84m in 2019.
Commenting on the acquisitions of MVE and CRYOPDP, Jerrell Shelton, CEO of Cryoport, said, “Based on market forecasts the cell and gene therapy market will continue to grow rapidly for the next decade.”
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