04-Feb-2015 - Eurofins Scientific AG

Eurofins acquires of Boston Heart Diagnostics Corporation

Eurofins Scientific announces the successful closing of the transaction to acquire Boston Heart Diagnostics Corp. (Boston Heart) following review and approval from relevant regulatory bodies.

Eurofins signed an agreement to acquire Boston Heart for an initial cash amount US$140 million, plus an earn-out payment that is expected to be in excess of US$60 million upon achievement of certain milestones. Boston Heart utilizes a suite of proprietary diagnostics in combination with additional clinical and genetic tests, extensive cardio-informatics capabilities, and ancillary patient engagement services to provide an  advanced diagnostics platform to help identify and reduce the risk of cardiovascular disease, diabetes, and other chronic conditions. The company is projected to achieve around $95 million of revenues in 2014, representing a CAGR of over 75% since 2011. 

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