NEW YORK ─ German medical diagnostics services provider Synlab on Friday announced the acquisition of Spain's Sistemas Genómicos of the Ascires Group for an undisclosed amount.
Sistemas Genómicos’ expertise in genetics, including bioinformatics, sequencing, molecular biology, and molecular genetics, will strategically complement Synlab's genetics services offering and expand its position in Spain and beyond, Synlab said, adding that the acquisition will also accelerate the digital transformation of its diagnostics services offering.
Valencia-based Sistemas Genómicos expects to book revenues of approximately €20 million (US$22.6 million) for 2021.
Synlab, based in Munich, said it expects to spend more than €200 million on M&A in 2022, and it continues to pursue acquisitions focused on generating synergies, extending its network of laboratories, and increasing its technological capacity.