Skip to main content

Medicover to Acquire German Genetic Testing Labs

NEW YORK (360Dx) – Medicover has signed an agreement to acquire the Center for Human Genetics and Laboratory Diagnostics and its affiliate IMGM Laboratories, both located in Martinsried, Germany.

Financial and other terms of the agreement were not disclosed.

The laboratories have a strong position within genetic testing, pathology, transfusion medicine, microbiology, and virology, said Medicover, based in Riddargatan, Sweden. The firm said it anticipates the acquisition will enhance its offerings within these areas and create a platform for further expansion in southern Germany.

With a total of 160 employees, the target laboratories booked revenues of about €17 million ($19.9 million) in 2017.

Medicover operates ambulatory clinics, hospitals, specialty-care facilities, and laboratories, and its largest geographic markets are Poland and Germany.

It anticipates closing the acquisition in January 2019.