Eurobio Scientific continues its international development with the acquisition of DID in Italy, Europe's third largest diagnostics market
June 13 2023 - 1:30AM
Eurobio Scientific continues its international development with the
acquisition of DID in Italy, Europe's third largest diagnostics
market
Eurobio Scientific
continues its international development with the
acquisitionof DID in Italy, Europe's third largest
diagnostics market
Paris, June
13,
2023
– 7:30
am
Eurobio Scientific
(FR0013240934, ALERS, PEA-PME eligible), a leading French group in
specialty in vitro medical diagnostics, announces the signing of an
agreement to acquire 100% of the capital of Diagnostic
International Distribution SPA ("DID"), a company specializing in
the distribution of in vitro diagnostic tests throughout Italy. The
acquisition is expected to be finalized within approximately 45
days. In 2022, DID generated €26.8 million in revenue. The
acquisition, the financial terms of which are not disclosed, will
be paid for in cash.
A solid reputation in microbiology tests
for medical diagnosis
Founded in 1946, DID is based in Milan, Italy, with a staff of
26 employees. The company offers a range of specialized tests and
instruments through exclusive distribution agreements. The company
became a key player in the field of microbiology for which it
provides its customers with a very complete range of solutions
including reagents and instruments. Beyond hospitals and private
biology laboratories, DID is present in the veterinary, industrial
and nutrition markets. More recently, the company has also expanded
into local biology (Point Of Care, POC). It is ISO9001
certified.
DID currently markets specific products from the Eurobio
Scientific group by distributing the EurobioPlex range of PCR tests
for infectious diseases.
With a population of approximately 60 million inhabitants, Italy
represents the third market for in vitro diagnostics in Europe,
after Germany and France, for approximately 1.9 billion euros per
year made from hospital and private laboratories.
An acquisition that is part of the
continuity of the group's European development
This acquisition allows Eurobio Scientific to pursue its
European development strategy. With the advantage of an already
long-standing commercial relationship, it opens up the Italian
market to Eurobio Scientific, where the group was not directly
present.
Denis Fortier, Deputy Managing Director of Eurobio Scientific,
declares: “Welcome to DID within our Group which will directly be
present on one of the largest diagnostics markets in Europe. Our
financial position strengthened by the COVID years allows us to
achieve this growth in order to strengthen our ability to export
our own products. The acquisition of DID therefore contributes to
the acceleration of our transformation from a mainly French player
to an international player in diagnostics”.
For Enrico Maffioli, CEO of DID, “I am proud of DID's merger
with Eurobio Scientific because we share a common business model,
with exclusive distribution contracts and now proprietary products
from the Group's own R&D. The quality of this new product
portfolio will allow us to continue our development throughout
Italy, at a time when diagnostics is becoming an increasingly
important part of our healthcare system”.
Next financial meetingsAnnual Shareholders’
meeting: June 13, 2023
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About Eurobio
ScientificEurobio Scientific is a key player in
the field of specialty in vitro diagnostics. It is involved from
research to manufacturing and commercialization of diagnostic tests
in the fields of transplantation, immunology and infectious
diseases, and sells instruments and products for research
laboratories, including biotechnology and pharmaceutical companies.
Through many partnerships and a strong presence in hospitals,
Eurobio Scientific has established its own distribution network and
a portfolio of proprietary products in the molecular biology field.
The Group has approximately 250 employees and four production units
based in the Paris region, in Germany, in the Netherlands and in
the United States, and several affiliates based in Dorking UK,
Sissach Switzerland, Bünde Germany, Antwerp Belgium and Utrecht in
The Netherlands.Eurobio Scientific's reference shareholder is the
EurobioNext holding company which brings together its two
directors, Jean-Michel Carle and Denis Fortier, alongside the
"Pépites et Territoires" by AXA & NextStage AM investment
program, managed by NextStage AM. For more information, please
visit: www.eurobio-scientific.comThe company is publicly listed on
the Euronext Growth market in ParisEuronext Growth BPI Innovation,
PEA-PME 150 and Next Biotech indices, Euronext European Rising Tech
label.Symbol: ALERS - ISIN Code: FR0013240934 - Reuters: ALERS.PA -
Bloomberg: ALERS:FP |
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About
DIDDiagnostic International Distribution SpA (DID)
is an Italian distributor of medical diagnostic products based in
Milan. With more than 70 years of service to the microbiology
laboratory, it operates in both clinical and industrial markets,
offering high quality solutions. Throughout its long history and
thanks to its reputation for excellence, DID has always supported
the solid growth of the Italian medical and industrial markets. DID
adheres to the highest standards (ISO9001) in all its operations,
and focuses on the breadth and depth of its product ranges to serve
its customers, supported by talented staff and open and transparent
business practices. The company offers a wide choice of innovative,
high quality, technology-intensive products from leading
international suppliers. DID has always paid great attention to
customer service, offering scientific support, technical
assistance, optimised delivery times and customer response, as well
as commercial assistance, with continuous monitoring of its quality
of service.For more information, visit: www.did.it |
- 230612_EUROBIO_DID_ACQUISITION_EN
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