GE Healthcare has inked an agreement to acquire PAA Laboratories, a developer and supplier of cell culture media for biomedical research for the bio-pharma and vaccine manufacturing industry.

The acquisition of PAA Laboratories will allow GE Healthcare to expand its offering of products and services for cell biology research and for the discovery and manufacture of biopharmaceuticals including recombinant proteins, antibodies and vaccines. The strong strategic fit between the two businesses, combined with expanded capabilities in product development and marketing, will offer significant long-term customer benefits.

The acquisition, which is subject to customary closing conditions including regulatory approvals, is expected to close in Q3 2011. However, financial terms were not disclosed.

“The acquisition of PAA Laboratories is a significant step forward for our Life Sciences business and for biopharmaceutical manufacturing globally,” said Kieran Murphy, president and CEO of GE Healthcare Life Sciences.