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Eurofins to Acquire Genoma

The story previously incorrectly stated Genoma Laboratory Group had been placed in bankruptcy earlier this year. The bankruptcy, however, pertained to a different firm also called Genoma, which was based in Switzerland and was owned by Dutch firm Esperite. 

NEW YORK (GenomeWeb) – Eurofins today announced an agreement to acquire specialty diagnostics firm Genoma Laboratory Group for an undisclosed amount.

According to Eurofins, Genoma, which is based in Italy, offers a wide range of specialty diagnostics services with an emphasis on noninvasive prenatal testing, as well as oncology tests. It has about 100 employees at its two main sites in Rome and Milan and generates about €20 million in annual revenues.

Genoma's main clients include hospitals, physicians, and other laboratories that outsource complex diagnostic tests. The acquisition, Eurofins said, provides it an entry platform into the clinical testing market in Italy, and strengthens the firm's footprint in the specialty diagnostics market in Europe. As a part of Eurofins, Genoma should be able to further develop its test and service portfolio, and consolidate its client reach by leveraging Eurofins' capabilities in genomic testing and its international presence, Eurofins added.

"We are confident that with access to Eurofins' global network, we should be able to expand our geographic footprint and achieve an improved international positioning of our analytical portfolio and molecular diagnostics services," Genoma Founder and CEO Francesco Fiorentino said in a statement.

The deal is expected to close in the next few weeks, Eurofins said.

The deal is the latest in a string of recent acquisitions by the company, following the purchase of MVZ für Laboratoriumsmedizin am Hygiene-Institut (Hygel), a group of clinical diagnostic laboratories based in Germany, as well as the acquisitions of four clinical labs in France since the start of the year.