Eurofins not agnostic about diagnostics as evidenced by Emory investment

By Gareth Macdonald

- Last updated on GMT

Emory Genetics Laboratory in Atlanta
Emory Genetics Laboratory in Atlanta

Related tags Genetics

Eurofins has outlined plans to buy Emory Genetics Laboratory in the latest in a series of investments in the contract diagnostics sector.

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.

The Luxembourg-headquartered contractor explained that Atlanta-based EGL would add capabilities in molecular and cytogenetic testing for rare disorders to its expanding range of diagnostics capabilities. It predicted that EGL would generate revenue of $15m this year.

CEO Gilles Martin said the investment will strengthen Eurofins’ “growing footprint in the specialty clinical diagnostics market, and provides the Group a truly unique platform to leverage its renowned competence in genomic testing.​”

Diagnostics acquisition

News of the agreement comes a week after Eurofins said it will buy 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.

It also follows less than a month after Eurofins said it will buy 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.

Martin highlighted the acquisitions as a driver for the EGL investment, commenting that: “In combination with ViraCor, Boston Heart and Diatherix, EGL provides Eurofins a leading position in the most technologically-driven segment of the specialty clinical diagnostic testing market​.”

Related news

Show more

Related products

show more

Using Define-XML to build more efficient studies

Using Define-XML to build more efficient studies

Content provided by Formedix | 14-Nov-2023 | White Paper

It is commonly thought that Define-XML is simply a dataset descriptor: a way to document what datasets look like, including the names and labels of datasets...

Overcoming rapid growth challenges with process liquid preparation

Overcoming rapid growth challenges with process liquid preparation

Content provided by Thermo Fisher Scientific - Process Liquid Preparation Services | 01-Nov-2023 | Case Study

A growing contract development manufacturing organization (CDMO) was challenged with the need to quickly expand their process liquid and buffer preparation...

Why should you use clinical trial technology?

Why should you use clinical trial technology?

Content provided by Formedix | 01-Nov-2023 | White Paper

New, innovative clinical trial technology is helping to revolutionize the research landscape. COVID-19 demonstrated that clinical trials can be run much...

Related suppliers

Follow us

Products

View more

Webinars