Eurofins Announces the Successful Closing of the Acquisition of Boston Heart Diagnostics Corporation
February 02 2015 - 12:30AM
Business Wire
Regulatory News:
Eurofins (Paris:ERF) :
Eurofins Scientific (EUFI.PA), the global leader in
bio-analytical testing, and one of the world leaders in genomic
services, announces the successful closing of the transaction to
acquire Boston Heart Diagnostics Corp. (Boston Heart) following
review and approval from relevant regulatory bodies.
As communicated on the 8th of December 2014, Eurofins signed an
agreement to acquire Boston Heart for an initial cash amount US$140
million, plus an earn-out payment that is expected to be in excess
of US$60 million upon achievement of certain milestones.
Boston Heart utilizes a suite of proprietary diagnostics in
combination with additional clinical and genetic tests, extensive
cardio-informatics capabilities, and ancillary patient engagement
services to provide a leading, advanced diagnostics platform to
help identify and reduce the risk of cardiovascular disease,
diabetes, and other chronic conditions. The company is projected to
achieve around $95 million of revenues in 2014, representing a CAGR
of over 75% since 2011.
The addition of Boston Heart into its network strengthens
Eurofins’ clinical testing and genomic service offering, building
on the presence in the specialty clinical testing market created
with the acquisition of ViraCor-IBT (VIBT) earlier in 2014.
Comment from Dr. Gilles Martin, Eurofins CEO: “I am
pleased to officially welcome Boston Heart into the Eurofins global
network of laboratories. Boston Heart allows the Group to leverage
its genomic testing capabilities, and at the same time further
expand its operating footprint, test portfolio and client reach
into promising growth areas”.
For more information about Eurofins, please visit
www.eurofins.com
Notes for the editor:
Eurofins – a global leader in bio-analysis
Eurofins Scientific is the world leader in food and
pharmaceutical products testing. It is also number one in the world
in the field of environmental laboratory services and one of the
global market leaders in agroscience, genomics, discovery
pharmacology and central laboratory services.
With over 16,000 staff in more than 200 laboratories across 36
countries, Eurofins offers a portfolio of over 100,000 reliable
analytical methods for evaluating the safety, identity,
composition, authenticity, origin and purity of biological
substances and products. The Group provides its customers with
high-quality services, accurate results on time and expert advice
by its highly qualified staff.
Eurofins is committed to pursuing its dynamic growth strategy by
expanding both its technology portfolio and its geographic reach.
Through R&D and acquisitions, the Group draws on the latest
developments in the field of biotechnology and analytical chemistry
to offer its clients unique analytical solutions and the most
comprehensive range of testing methods.
As one of the most innovative and quality oriented international
players in its industry, Eurofins is ideally positioned to support
its clients’ increasingly stringent quality and safety standards
and the expanding demands of regulatory authorities around the
world.
The shares of Eurofins Scientific are listed on the Euronext
Paris Stock Exchange (ISIN FR0000038259, Reuters EUFI.PA, Bloomberg
ERF FP).
Important disclaimer:
This press release contains forward-looking statements and
estimates that involve risks and uncertainties. The forward-looking
statements and estimates contained herein represent the judgement
of Eurofins Scientific’ management as of the date of this release.
These forward-looking statements are not guarantees for future
performance, and the forward-looking events discussed in this
release may not occur. Eurofins Scientific disclaims any intent or
obligation to update any of these forward-looking statements and
estimates. All statements and estimates are made based on the
information available to the Company’s management as of the date of
publication, but no guarantee can be made as to their validity.
Eurofins ScientificInvestor RelationsEurofins Scientific
GroupPhone: +32 2 766 1620E-mail: ir@eurofins.com
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