Eurofins strengthens its footprint in specialty clinical diagnostics with the acquisition of Diatherix Laboratories, Inc. in ...
01 June 2015 - 3:30PM
Business Wire
Regulatory News:
Eurofins Scientific (Paris:ERF) (EUFI.PA), the global leader in
bio-analytical testing, and one of the world leaders in genomic
services, announces that it has signed an agreement to acquire
Diatherix Laboratories, Inc. (“Diatherix”) for approximately US$
50m, plus an earn-out upon achievement of pre-defined revenue and
profitability targets. Completion of the transaction is expected in
the next 30 days and is subject to applicable regulatory approvals
and customary closing conditions.
Based in Huntsville, Alabama, Diatherix is a highly-specialised
laboratory providing cutting-edge molecular diagnostic testing
services to hospitals and physicians using proprietary TEM-PCR™
(Target Enriched Multiplex Polymerase Chain Reaction) technology
for precise detection of infectious diseases at high levels of
sensitivity and specificity, and at very short turnaround times.
Employing around 100 staff, Diatherix serves close to 7,000
healthcare providers across the US and expects to generate revenues
of about US$ 40m in 2015.
TEM-PCR™ is a breakthrough molecular multiplex technology that
allows not only rapid DNA/RNA identification of multiple pathogens
in a single sample, but also specific genetic drug resistance
diagnostic, in as little as 6 hours. Diatherix has developed
several diagnostic panels to identify multiple organisms in samples
quickly and accurately, helping physicians and healthcare providers
choose more effective antimicrobial therapy and improve patient
outcomes. The company’s service offering and expertise therefore
fits perfectly with Eurofins’ recent acquisition of ViraCor and its
core competence in infectious diseases, immunology, transplant
cases and other time-sensitive testing.
With this acquisition, Eurofins strengthens both its
pharmaceutical and genomic service offering and reinforces its
development into a leading presence in the specialty clinical
testing services for hospitals, clinicians and pharmaceutical
companies. This acquisition further demonstrates Eurofins’
commitment to serve the emerging needs of clinicians,
pharmaceutical and biotechnology leaders with laboratory services
of the highest quality and reliability.
Comment from Dr. Gilles Martin, Eurofins CEO: “This
acquisition reflects our strategy of expanding and strengthening
our network of competence centers. Diatherix strengthens Eurofins’
growing footprint in the specialty clinical diagnostics market,
with truly unique and innovative services with high positive impact
for patient care. In combination with ViraCor and Boston Heart,
Diatherix reinforces the Group’s position in genetic testing to
better serve the global healthcare community.”
Notes for the editor:
Eurofins – a global leader in bio-analysis
Eurofins Scientific is the world leader in food and
pharmaceutical products testing. It is also number one in the world
in the field of environmental laboratory services and one of the
global market leaders in agroscience, genomics, discovery
pharmacology and central laboratory services.
With over 17,000 staff in more than 200 laboratories across 36
countries, Eurofins offers a portfolio of over 130,000 reliable
analytical methods for evaluating the safety, identity,
composition, authenticity, origin and purity of biological
substances and products. The Group provides its customers with
high-quality services, accurate results on time and expert advice
by its highly qualified staff.
Eurofins is committed to pursuing its dynamic growth strategy by
expanding both its technology portfolio and its geographic reach.
Through R&D and acquisitions, the Group draws on the latest
developments in the field of biotechnology and analytical chemistry
to offer its clients unique analytical solutions and the most
comprehensive range of testing methods.
As one of the most innovative and quality oriented international
players in its industry, Eurofins is ideally positioned to support
its clients’ increasingly stringent quality and safety standards
and the expanding demands of regulatory authorities around the
world.
The shares of Eurofins Scientific are listed on the Euronext
Paris Stock Exchange (ISIN FR0000038259, Reuters EUFI.PA, Bloomberg
ERF FP).
Important disclaimer:
This press release contains forward-looking statements and
estimates that involve risks and uncertainties. The forward-looking
statements and estimates contained herein represent the judgement
of Eurofins Scientific’ management as of the date of this release.
These forward-looking statements are not guarantees for future
performance, and the forward-looking events discussed in this
release may not occur. Eurofins Scientific disclaims any intent or
obligation to update any of these forward-looking statements and
estimates. All statements and estimates are made based on the
information available to the Company’s management as of the date of
publication, but no guarantee can be made as to their validity.
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Investor RelationsEurofins Scientific GroupPhone: +32 2 766
1620E-mail: ir@eurofins.comwww.eurofins.com
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