Beckman Pays $1.15 Billion to Acquire Miami Company

Beckman Instruments said Monday it has completed its acquisition of Coulter Corp. of Miami for about $1.15 billion in cash and assumed debt.

Beckman said it paid $875 million in cash and assumed about $275 million in debt to acquire closely held Coulter, a leading maker of hematology systems to analyze blood cells.

The new company is called Beckman Coulter, and the combined companies generated sales of $1.7 billion last year.

The acquisition is part of a consolidation trend in the medical instruments industry, as companies attempt to cut costs amid growing competition to supply testing equipment to hospitals and research laboratories.

The company said it expects to refinance a portion of the acquisition debt over the next several months with the sale of certain financial assets and real estate.