More takeovers: Eurofins buys pharma QC services firm Sinensis Life Science
The deal – financial terms of which were not provided – will see the Dutch contract analysis firm join Eurofins network, which includes the biopharmaceutical reference laboratory Eurofins Lancaster.
Eurofins said the acquisition “acquisition strengthens the Group's geographical footprint” and will help it "accelerate the deployment of the most advanced testing methodologies to support the pharmaceutical and biotechnology industries across the entire drug development cycle in Europe.”
The Sinensis group consists of several separate branded services firms, namely: Microsafe Laboratories; Bactimm; ProBase Pharma; Farmalyse; Proxy Laboratories; Prolepha Lab; and Spinnovation Analytical BV.
The organisation expects to record revenues in excess of €13.5m ($14.6m) for 2015.
M&A strategy
Eurofins’ 2015 was defined by its M&A activity, the majority of which was pharma industry related.
In June last year Eurofins announced it would pay $40m (Eur35m) for a 75% stake in Emory Genetics Laboratory (EGL) – a specialist provider of genetic testing service – in a deal with current owner Emory University's School of Medicine.
A week earlier the firm bought French testing services firm Biomnis from Bio Alfras SAS for €220m ($249m) and two weeks after it announced a €150m investment in lab group BioAccess.
A month before that Eurofins acquired US-based testing services specialist Diatherix Laboratories.
Prior to these deals, Eurofins bought ViraCor-IBT Laboratories, a provider of biomarker analysis services, and six months after it acquired Boston Heart Diagnostics Corporation from Bain Capital Ventures for $140m.
