Eurofins signs an exclusive agreement to acquire the Biomnis Group

23-Jun-2015 - France

Eurofins Scientific announced that it has signed an exclusive agreement with Financière Bio Alfras SAS to acquire the Biomnis Group for approximately EUR 220m. The contemplated transaction is expected to be completed over the summer, subject to customary closing conditions including regulatory approvals and employees' representatives' information and consultation.

Biomnis is one of the main independent specialty/esoteric diagnostic testing service providers in France and Ireland. It is one of the largest independent laboratories in Europe focusing on specialty diagnostic testing, with a strong reputation in many areas including infectious diseases, supported by its renowned competence in molecular biology and cytogenetics. Biomnis has 2 main sites in France (Lyon and Paris) and 1 site in Ireland. In addition, it owns 26 medical biology sites across France that run less complex tests, and are also channels for the specialty diagnostic tests which are then sent on to the laboratories in Paris or Lyon. The company is also active in clinical trials for the pharmaceutical industry, and in forensic testing. Biomnis serves mainly institutional clients including hospitals, pharmaceutical companies and a large number of other third party medical biology laboratories which outsource the more complex tests to Biomnis. 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.

Should the contemplated transaction come to closing, the addition of Biomnis to the Eurofins network 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. Furthermore, 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. Eurofins' renowned capabilities in genomic testing, and its international presence, should support Biomnis in developing its portfolio of tests and services, as well as consolidate their client reach.

https://www.analytica-world.com/en/news/153370/eurofins-signs-an-exclusive-agreement-to-acquire-the-biomnis-group.html