NEW YORK – Cellink announced Monday that it has entered an agreement to acquire Ginolis, a Finnish diagnostic robotics and automation company, for €70 million ($84.8 million).
Forty percent of the purchase price will be paid in series B shares of Cellink, with the rest paid in cash, Cellink said in a statement. The deal is expected to be completed by March 1.
Ginolis provides robotics systems for the manufacturing of multiplex tests, lateral flow, point-of-care tests, and medical devices, and has been manufacturing COVID-19 tests in the US and Europe. It is also providing manufacturing systems for COVID-19 testing.
The company also has solutions to automate the production of consumables for medical devices, Cellink said. Ginolis will be a part of Cellink Industrial Solutions once the acquisition is complete and will remain under its current management.
Cellink added that the tools from Ginolis will "ensure higher quality bioprinting experiments and results, faster throughput of printed tissues, and more reliable and reproducible data." Ginolis had revenues of €18 million in 2020.