Eurofins acquires clinical diagnostics company in Italy

26-Jun-2017 - Netherlands

Eurofins Scientific announces that it has signed an agreement to acquire Genoma Group Srl in Italy. The transaction is expected to close in the next few weeks, subject to customary closing conditions.

With 20 years of clinical testing innovation, Genoma offers a wide range of specialty diagnostic testing services, and has developed a strong reputation in molecular biology and cytogenetics. Specifically, the company is a pioneer in non-invasive pre-natal testing (NIPT) in Italy, and leads the industry in innovative diagnostic tests in oncology. Genoma employs about 100 staff across its 2 main sites in Rome and Milan, and generates annual revenues in excess of EUR 20m.

The company serves hospitals, physicians and other laboratories which outsource the more complex diagnostic tests to Genoma. Given the ongoing consolidation in the clinical testing sector in Europe, the company is well-positioned to leverage and strengthen its footprint in the specialty diagnostic testing sector. This acquisition therefore provides Eurofins a strong entry platform into the clinical testing market in Italy, and strengthens the Group’s footprint in the specialty diagnostic testing market in Europe. In return, Genoma should be able to further develop its portfolio of tests and services, as well as consolidate their client reach, by leveraging the Group’s renowned capabilities in genomic testing and its international presence.

Comment from Dr. Francesco Fiorentino, Genoma CEO and founder: "We are excited to be joining Eurofins and look forward to the next phase of our development within the Group. We are confident that with access to Eurofins’ global network, we should be able to expand our geographic footprint, and achieve an improved international positioning of our analytical portfolio and molecular diagnostics services."

Comment from Dr. Gilles Martin, Eurofins CEO: “The acquisition of Genoma reinforces Eurofins’ growing footprint in the specialty clinical diagnostics market, with innovative services with high positive impact for patient care. This transaction should enable the Group to continue deploying its technical know-how and proprietary technologies throughout Europe. In return, Genoma should benefit from access to the full capabilities of the Eurofins network.”

https://www.analytica-world.com/en/news/163827/eurofins-acquires-clinical-diagnostics-company-in-italy.html