Date: 2015-06-17
Type of information: Company acquisition
Acquired company: Bio-Access (France)
Acquiring company: Eurofins Scientific (Luxembourg)
Amount: € 150 million
Terms: * On June 17, 2015, Eurofins Scientific, a global leader in bio-analytical testing and genomic services, announced that it has signed an agreement to take control, together with its founder, Dr. Jean-Louis Oger and its current leadership, of Bio-Access, a group of clinical diagnostic laboratories in France, for an investment by Eurofins of approximately €150m plus ca. €75m of assumed debt.
The transaction is expected to close within a few months, subject to fulfillment of specific conditions precedent, as well as other customary closing conditions and regulatory approvals, in particular the clearance from the French competition authority. Several current shareholders, all of whom are professional clinical biologists, will invest and hold the remainder of the shares in Bio-Access post-closing. Eurofins also committed to provide liquidity in the mid-term for their investment.
Bio-Access provides Eurofins an entry platform into the complex European clinical diagnostic testing market, on which to deploy its technical know-how and proprietary technologies, including the competencies in specialty diagnostic testing that the Group has obtained, and continues to develop, following the acquisition of ViraCor, Boston Heart and Diatherix in the US. Eurofins’ vast analytical portfolio and technical resources, as well as the Group’s world class laboratory and systems infrastructure, should facilitate the further development of Bio-Access’ portfolio of genomic tests and services, as well as the expansion of its footprint and client reach.
Details: Bio-Access is a group of clinical diagnostic laboratories in France. With 103 sites, 7 of which are regional central laboratories, located in 4 of the country’s main regions, Bio-Access is one of the leading groups of medical biology laboratories (LBMs) in France, with a focus in the southeast (Rhône-Alpes, Provence-Alpes-Côte d'Azur), and in the west (Bretagne) of the country, as well as in Guyana. The company’s multiple biological diagnostic competencies include immunology, oncology and infectious diseases. Bio-Access employs about 1,100 staff across its laboratories, and expects to generate revenues of about € 140m in 2015, with an EBITDA margin in-line with Eurofins’ objective.
Related: Clinical diagnostic Medical biology
