05:56 PM EDT, 08/12/2024 (MT Newswires) -- Donaldson (DCI) said Monday it completed the acquisition of a 49% stake in Medica for roughly 62 million euros, or about $67.8 million, excluding transaction-related fees and expenses.

Donaldson said its acquisition of the Italy-based manufacturer of hollow fiber membranes for blood and water purification supports its growth strategy for its life sciences business.

It said Medica has over 700 employees globally and generated 80 million euros in revenue in calendar 2023.