Eurofins to buy Biomnis for €220m in latest diagnostics sector deal
The acquisition – which will include laboratories and testing sites in France and Ireland - will see Eurofins pay Biomnis’ owner Bio Alfras SAS €220m ($249m) in a takeover agreement announced today.
According to Eurofins, Biomnis employs 1,200 people in 40 countries and is primarily focused on the provision of diagnostic testing services to the pharmaceutical and food industries.
Eurofins said that: “Given the ongoing consolidation in the clinical testing sector in Europe, and specifically in France, the company is well-positioned to leverage and strengthen its footprint in the specialty diagnostic testing sector.”
Diagnostics deals
News of the proposed deal follows Eurofins’ €150m investment in Bio-Access, a group of clinical diagnostic laboratories in France, and its announcement of plans to buy US-based testing services specialist Diatherix Laboratories.
It also comes a little over a year after the firm bought ViraCor-IBT Laboratories, a provider of biomarker analysis services, and six months after it acquired Boston Heart Diagnostics Corporation from Bain Capital Ventures for $140m.
Eurofins said Biomnis “would strengthen the Group’s pharmaceutical and genomic service offering, and consolidate its growing presence in the specialty diagnostic testing sector, following the acquisition of ViraCor, Boston Heart and Diatherix in the US.”
“Biomnis should provide the Group a strong platform in Europe on which to deploy its technical know-how in specialty clinical diagnostic testing, and strengthen its position in this sector in France, in addition to the acquisition of BioAccess.”
Bio Alfras acquired Biomnis in 2013 for €168m from UK-based private equity investor Duke Street. The deal coincided with debt restructuring and an investment of around €20m the firm’s former owners, AXA Private Equity and Partners Group.
