Eurofins Expands Its Clinical Diagnostic Footprint with the Acquisition of Megalab in Spain
September 30 2016 - 1:30AM
Business Wire
Regulatory News:
Eurofins Scientific (Paris:ERF) (EUFI.PA), a global leader in
bio-analytical testing, and one of the world leaders in genomic
services, announces the acquisition of Megalab SA (“Megalab”), one
of the top five clinical diagnostic laboratory groups in Spain, for
approximately EUR 40m.
Headquartered in Madrid, where the central laboratory is based,
Megalab operates 83 sites, of which 35 are located in private
hospitals. It has the biggest geographical coverage in Spain with
direct access to patients in 35 out of 50 provinces. With its
strong reputation within the domestic healthcare industry for
high-quality clinical testing services and its extensive geographic
footprint, Megalab has entered into reimbursement agreements with
the main private insurers offering their patients a broad range of
diagnostic testing services including immunology, molecular
diagnostics and cytogenetics. The company employs about 550 staff
across its sites, and expects to generate revenues in excess of EUR
45m in 2016.
Megalab’s rapid growth in recent years validates its strategy of
building market leadership both organically and through
acquisitions, region-by-region. Given the ongoing consolidation in
the clinical diagnostic testing market in Spain, Megalab is
well-positioned to leverage and further strengthen its footprint in
the country.
The acquisition of Megalab provides Eurofins entry into the
clinical diagnostic testing market in Spain, and reinforces its
footprint to serve healthcare professionals in Europe. In return,
Eurofins’ vast analytical portfolio and technical resources, as
well as the Group’s world class laboratory and systems
infrastructure, should support the further development of Megalab’s
portfolio of diagnostic tests and services, as well as the
expansion of its footprint and client reach.
Comment from Dr. Gilles Martin, Eurofins CEO: “The
acquisition of Megalab expands Eurofins’ clinical diagnostic
footprint in Europe, and reinforces the platform on which to deploy
the Group’s technical know-how and proprietary technologies,
including our competencies in specialty diagnostic testing. We are
committed to supporting Megalab in further developing its service
offering and its geographic footprint to better serve its growing
network of patients and clinicians in Spain.”
For more information, please visit
www.eurofins.com
Notes for the editor:
Eurofins – a global leader in bio-analysisEurofins
believes it is the world leader in food, environment and
pharmaceutical products testing and that it is also one of the
global independent market leaders in certain testing and laboratory
services for agroscience, genomics and discovery pharmacology and
for supporting clinical studies. In addition, Eurofins is one of
the significant emerging players in specialty clinical diagnostic
testing in Europe and the USA.
With 25,000 staff in more than 250 laboratories across 39
countries, Eurofins offers a portfolio of over 130,000 validated
analytical methods for evaluating the safety, identity,
composition, authenticity, origin, traceability and purity of
biological substances and products, as well as for innovative
clinical diagnostic. 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 and healthcare
practitioners 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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version on businesswire.com: http://www.businesswire.com/news/home/20160929005877/en/
Eurofins Investor RelationsPhone: +32-2-766 1620E-mail:
ir@eurofins.com
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