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Eurobio Scientific expands into Benelux by acquiring the diagnostic company Biomedical Diagnostics NV
Paris, June 13, 2022 –5:45 pm
Eurobio Scientific (FR0013240934, ALERS, eligible PEA-PME), a leading French group in the field of specialty in vitro medical diagnostics, announces the acquisition of 100% of the share capital of Biomedical Diagnostics NV (“BMD”), a Belgian company specializing in the distribution of in vitro diagnostic tests in Benelux (Belgium, the Netherlands and Luxembourg). BMD’s 2020 sales were 3.3 million euros. The acquisition, which financial terms are not disclosed, was paid in cash.
A strong reputation in specialty tests for medical diagnostics
Founded in 1986, BMD is based in Antwerp, Belgium, with a staff of 10 employees. The company offers a range of specialty tests and instruments under exclusive distribution contracts. It became a reference player in the field of auto-immunity in which it commercializes an extensive range of solutions including reagents and instruments. BMD also grew in other indications such as infectious diseases, genetic disorders and surveillance of biotherapies. Besides its offer of in vitro diagnostics tests, the company also commercializes a comprehensive range of reagents for quality control.
BMD is currently marketing specific products from the Eurobio Scientific group through the distribution of the Pathtrol quality control reagents manufactured by Eurobio Scientific UK in the United Kingdom.
With a total population of 29 million inhabitants, the Benelux area represents an in vitro diagnostics market of approximately 700 million euros per year, made with approximately 200 hospital and private laboratories.
An acquisition in line with the Group's European development strategy
This acquisition fits perfectly with Eurobio Scientific's European development strategy. With an already long-standing commercial relationship, it also opens opportunities for rapidly expanding the Eurobio Scientific group in Benelux, where its presence is currently limited to one sales representative from the TECO group based in the Netherlands.
Jean-Michel Carle, President and CEO of Eurobio Scientific, declares: “we are delighted to welcome the BMD team within our Group. This acquisition brings us a new capacity for development in the Benelux area. The long-standing relationship between our two companies will enable us to rapidly activate the commercial synergies resulting from this operation.”
Denis Fortier, joint CEO of Eurobio adds: “The way we handled the COVID-19 crisis has strengthened our financial position and shown our capacity to absorb growth. Acquiring BMD contributes to accelerating our transition from a French player to a European player in the diagnostics market.”
For Fabienne Steens, CEO of BMD, “Eurobio Scientific is the best match for BMD as we share a common business model, built on a mix of exclusive distribution contracts and from now on proprietary products issued from Eurobio Scientific R&D. We join forces at the right moment, when health systems all over Europe rely more and more on diagnostics.”
Next financial meeting
Eurobio Scientific 2022 first-half revenues: July 25, 2020
This press release contains elements that are not historical facts including, without limitation, certain statements about future expectations and other forward-looking statements. Such statements are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, profitability or events to differ materially from those anticipated. In addition, Eurobio Scientific, its shareholders, and its affiliates, directors, officers, advisors and employees have not verified the accuracy of, and make no representations or warranties in relation to, statistical data or predictions contained in this press release that were taken or derived from third party sources or industry publications. Such statistical data and predictions are used in this press release for information purposes only. Finally, this press release may be drafted in the French and English languages. If both versions are interpreted differently, the French language version shall prevail.
About Eurobio Scientific
Eurobio Scientific is a key player in the field of specialty in vitro diagnostics. It is involved from research to manufacturing and commercialization of diagnostic tests in the fields of transplantation, immunology and infectious diseases, and sells instruments and products for research laboratories, including biotechnology and pharmaceutical companies. Through many partnerships and a strong presence in hospitals, Eurobio Scientific has established its own distribution network and a portfolio of proprietary products in the molecular biology field. The Group has approximately 164 employees and three production units based in the Paris region, in Germany and in the United States, and several affiliates based in Dorking UK, Sissach Switzerland, Bünde Germany and Utrecht in The Netherlands.
For more information, please visit : www.eurobio-scientific.com
The company is publicly listed on the Euronext Growth market in Paris
Euronext Growth BPI Innovation, PEA-PME 150 and Next Biotech indices, Euronext European Rising Tech label.
Symbol: ALERS - ISIN Code: FR0013240934 - Reuters: ALERS.PA - Bloomberg: ALERS:FP
Group Eurobio Scientific
Biomedical Diagnostics (BMD) is a Belgian company marketing specialty tests for medical diagnostics. With a team of 10 employees, the company has become over the years a pure distribution company, representing high-quality partners and products in niche sectors of in vitro diagnostics. Due to its strategic position in Antwerp, in the center of the Benelux area, it provides appropriate solutions and personalized services to all clinical biology laboratories in Belgium, Luxembourg and the Netherlands.
For more information, visit the website: www.bmd.be