NEW YORK – European investment firm ArchiMed announced on Tuesday that it has acquired Austrian in vitro diagnostics company EuroLyser for an undisclosed amount.
ArchiMed, which is based in Lyon, France, also acquired EuroLab, the main distributor for EuroLyser. In a statement, ArchiMed said the transaction was "triggered by the retirement of one of EuroLyser's cofounders."
Based in Salzburg, EuroLyser develops point-of-care testing devices and kits. Its primary markets are Germany and other parts of Europe, although it is growing its footprint in the US and Japan, according to ArchiMed. Its POC products include tests for prostate-specific antigen, HbA1c, troponin I, and others. The company also offers a POC instrument called the Cube, according to its website.
Additionally, EuroLyser offers tests for the veterinary market and has an original equipment manufacturing partnership with R Biopharm for the food testing space.
Cofounder and CEO Michael Gruber will remain with EuroLyser in the same position. ArchiMed said in a statement that EuroLyser's revenues and profits are growing at more than 10 percent annually.
"We look forward to helping an excellent CEO and first-rate team expand this company throughout Europe and the US both organically and through acquisitions," ArchiMed partner Vincent Guillaumot said in a statement. "We also expect to do further deals in the German speaking countries of Europe, a region that is characterized by cutting edge healthcare companies looking for ways to accelerate their growth throughout the region and the world."
ArchiMed members Dirk Ehlers and Michael Rasche have joined EuroLyser's board, following the acquisition. Ehlers has more than 25 years of leadership positions in the healthcare industry, including at Roche. Rasche has been in the healthcare industry for 28 years, ArchiMed said.