FAIRFIELD, Ohio--(BUSINESS WIRE)--DNA Diagnostics Center (“DDC”), announced today the definitive agreement to be acquired by Eurofins, a publicly traded, global laboratory testing business. This transaction follows a successful partnership between DDC and GHO Capital (“GHO”), the European specialist investor in global healthcare.
DDC is a multichannel, global leader in consumer-focused DNA testing, offering best in class DNA lab and testing services across a range of sectors including family relationships, immigration, gender, fertility and health and wellness. The Company is among the nation’s top laboratories and is well known for leading consumer brands including SpermCheck®, HomePaternity® and PeekabooTM Early Gender Detection.
In response to the global pandemic, DDC demonstrated its strength and resilience through new product launches and partnerships, with revenue increasing in excess of $55M in 2021. The Company, with approximately 240 employees, will continue to operate from its existing Fairfield, OH facility.
In partnership with GHO, DDC experienced strong growth both organically and through strategic acquisitions. Significant investment was made in the operating infrastructure of the business to build an organization established in delivering consistent year on year growth. A series of four add-on acquisitions saw DDC further penetrate European markets as well as diversify its product offering into medically led consumer testing, home healthcare and fertility.
This transaction will further the market-leading position of Eurofins by expanding its reach into the consumer genetics and health and wellness markets. DDC will significantly benefit from the tremendous resources, expertise and expanded global reach of Eurofins – leveraging their scientific bench to bring new products to our customers.
Scott Cramer, President and CEO, DDC commented: “With GHO’s support, we are proud of the consistent and consecutive year on year growth DDC has achieved. We’re excited to continue that growth trajectory, recognizing the value created in our trusted brands, our considerable operational efficiencies and an innovative new product pipeline. DDC is well placed to accelerate further and we look forward to partnering with Eurofins to bring more products to our consumer and distributor channels.”
The Partners at GHO Capital commented: “We’d like to thank Scott and his team for everything they have achieved in our partnership. DDC has evolved from a niche player in paternity testing to a diversified global leader in consumer-focused DNA tests. The sale to Eurofins is a testament to the high-quality platform that management have built with our support and this transaction provides a natural home for the business in the next stage of its development.”
The transaction is expected to close in Q3 2021, subject to regulatory approval.
Ropes & Gray and Troutman Pepper acted as legal advisors to DDC.
DNA Diagnostics Center) is a leading DNA testing company focused on delivering best in class lab and at home testing options for consumers who are seeking the truth both for peace of mind as well as legal testing reasons. With over 25 years as a leader in the testing space, globally recognized DNA Diagnostics Center product brands include: Peekaboo® early gender detection testing; HomePaternity® at home paternity testing; SpermCheck® at home male fertility and post-vasectomy testing; along with other DDC branded products in the relationship space to include Non-invasive Prenatal Paternity Testing, Chain and Non-chain paternity testing and hundreds of DNA healthcare and breed tests for a variety of animals. With commercial and lab operations headquartered in Fairfield, OH, DNA Diagnostics Center products are distributed directly to consumers online, through major retailers and over 2,200 distributors in 128 countries. www.dnacenter.com
About GHO Capital
Global Healthcare Opportunities, or GHO Capital Partners LLP, is a leading specialist healthcare investment advisor based in London. We apply global capabilities and perspectives to unlock high growth healthcare opportunities, targeting Pan-European and transatlantic internationalisation to build market leading businesses of strategic global value. Our proven investment track record reflects the unrivalled depth of our industry expertise and network. We partner with strong management teams to generate long-term sustainable value, improving the efficiency of healthcare delivery to enable better, faster, more accessible healthcare. For further information, please visit www.ghocapital.com.
Eurofins is a group of international life sciences companies which provide a unique range of analytical testing services to clients across multiple industries. With over 50,000 staff across a decentralized and entrepreneurial network of more than 800 laboratories in over 50 countries, Eurofins offers a portfolio of over 200,000 analytical methods to evaluate the safety, identity, composition, authenticity, origin, traceability and purity of a wide range of products, as well as providing innovative clinical diagnostic testing services and in-vitro diagnostic products. www.eurofins.com