LUXEMBOURG--(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 that it has signed an agreement to acquire Genoma Group Srl (“Genoma”), one of the leading specialty diagnostics testing providers in Italy. The transaction is expected to close in the next few weeks, subject to customary closing conditions.
With 20 years of clinical testing innovation, Genoma offers a wide range of specialty diagnostic testing services, and has developed a strong reputation in molecular biology and cytogenetics. Specifically, the company is a pioneer in non-invasive pre-natal testing (NIPT) in Italy, and leads the industry in innovative diagnostic tests in oncology. Genoma employs about 100 staff across its 2 main sites in Rome and Milan, and generates annual revenues in excess of EUR 20m.
The company serves hospitals, physicians and other laboratories which outsource the more complex diagnostic tests to Genoma. Given the ongoing consolidation in the clinical testing sector in Europe, the company is well-positioned to leverage and strengthen its footprint in the specialty diagnostic testing sector. This acquisition therefore provides Eurofins a strong entry platform into the clinical testing market in Italy, and strengthens the Group’s footprint in the specialty diagnostic testing market in Europe. In return, Genoma should be able to further develop its portfolio of tests and services, as well as consolidate their client reach, by leveraging the Group’s renowned capabilities in genomic testing and its international presence.
Comment from Dr. Francesco Fiorentino, Genoma CEO and founder: "We are excited to be joining Eurofins and look forward to the next phase of our development within the Group. We are confident that with access to Eurofins’ global network, we should be able to expand our geographic footprint, and achieve an improved international positioning of our analytical portfolio and molecular diagnostics services."
Comment from Dr. Gilles Martin, Eurofins CEO: “The acquisition of Genoma reinforces Eurofins’ growing footprint in the specialty clinical diagnostics market, with innovative services with high positive impact for patient care. This transaction should enable the Group to continue deploying its technical know-how and proprietary technologies throughout Europe. In return, Genoma should benefit from access to the full capabilities of the Eurofins network.”
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.