NEW YORK – Eurobio Scientific announced on Monday that it has acquired Belgian diagnostic distribution company Biomedical Diagnostics.
Financial terms of the cash deal were not disclosed.
Biomedical Diagnostics distributes specialty tests and instruments for autoimmunity, infectious diseases, genetic disorders, and biotherapy surveillance. It also offers quality control reagents. Currently, the firm markets Pathtrol quality control reagents manufactured by Eurobio Scientific UK. Biomedical Diagnostics had sales of €3.3 million ($3.45 million) in 2020 and has 10 employees.
The acquisition "fits perfectly with Eurobio Scientific's European development strategy" and "opens opportunities for rapidly expanding Eurobio" in Belgium, the Netherlands, and Luxembourg, Eurobio said.
"The longstanding relationship between our two companies will enable us to rapidly activate the commercial synergies resulting from this operation," Jean-Michel Carle, Eurobio Scientific's president and CEO, said in a statement.
Biomedical Diagnostics CEO Fabienne Steens added that "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."