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Beckman Coulter Sells Properties to Cut Debt

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Times Staff and Wire Reports

Beckman Coulter Inc. said it sold four properties in the United States, generating about $240 million to help reduce debt from financing its acquisition of Coulter Corp. last year.

Beckman, a Fullerton-based maker of blood and cell analysis systems, said it will continue to occupy the sites under long-term leasing arrangements. The deals reduced the company’s total debt from $1.33 billion to $1.12 billion as of March 31, the company said.

Properties include the company’s office and manufacturing buildings in Brea; its plant in Palo Alto; Coulter’s former corporate headquarters and plant in Miami; and office and manufacturing buildings in Chaska, Minn., that were purchased last year as part of another acquisition.

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The company said it expects to continue generating strong sales of products and services that support instrument systems installed in customer laboratories. These sales represent nearly 70% of the company’s revenue, Beckman said.

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