LUXEMBOURG--(BUSINESS WIRE)--Regulatory News:
Eurofins Scientific (Paris:ERF) (EUFI.PA), a global leader in bio-analytical testing, announces that it has signed an agreement to acquire GATC Biotech AG (“GATC”), one of Europe’s specialists in DNA sequencing. The transaction is expected to close in July, subject to the fulfilment of customary closing conditions.
Founded in 1990, GATC has achieved a strong recognition for DNA and RNA sequencing, as well as bioinformatics in Europe. The company employs 140 staff across 2 sites, and serves over 10,000 institutional and academic customers, generating annual revenues of about EUR 20m. As one of the larger players in Custom and Next Generation Sequencing, GATC has built a reputation for innovative, internally-developed applications, as well as industry-leading turn-around time (TAT). The acquisition should therefore further reinforce Eurofins' footprint in DNA sequencing, and strengthen the Group's technological platform supporting its genetic testing innovations.
Comment from Peter Pohl, CEO and Co-founder of GATC: “We are excited to be joining the Eurofins family of laboratories and look forward to the next phase of our development within the Group. We are confident that with access to Eurofins’ global network and technical competencies, we should be able to expand our analytical portfolio and services to benefit all our existing and future clients.”
Comment from Dr. Gilles Martin, Eurofins CEO: “We look forward to providing GATC access to the complete capabilities of the Eurofins Group. This transaction is a demonstration of Eurofins' commitment to genomics services. We believe that advances in gene sequencing will continue to drive innovations not only in clinical diagnostics, but in the broader bioanalytical testing market as well."
For more information, please visit www.eurofins.com
Notes for the editor:
Eurofins – a global leader in bio-analysis
Eurofins Scientific through its subsidiaries (hereinafter sometimes “Eurofins” or “the Group”) 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, discovery pharmacology and for supporting clinical studies. In addition, Eurofins is one of the key emerging players in specialty clinical diagnostic testing in Europe and the USA. With over 28,000 staff in 310 laboratories across 39 countries, Eurofins offers a portfolio of over 130,000 analytical methods for evaluating the safety, identity, composition, authenticity, origin and purity of biological substances and products, as well as for innovative clinical diagnostic. The Group objective is to provide 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).
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.