Investor AB Unit to Buy Nova Biomedical in $2.2 Billion Deal (1)

A unit of Investor AB, the investment firm controlled by Sweden’s Wallenberg family, will buy medical device maker Nova Biomedical in a $2.2 billion deal.

The deal will see Nova Biomedical merge with acquiring unit Advanced Instruments to create a life sciences tools platform, according to a statement on Wednesday. The combined business generated $621 million in sales in 2024, with an adjusted profit margin of about 30%.

The business will be led by Advanced Instruments Chief Executive Officer Byron Selman, and will operate under the Nova Biomedical name.

Nova Biomedical, based in Waltham, Massachusetts, develops and makes medical ...