Eurofins Scientific, a provider of bio-analytical testing and genomic services, signed an agreement to acquire Diatherix Laboratories for approximately $50 million, plus an earn-out upon achievement of predefined revenue and profitability targets.
Diatherix employs around 100, serves close to 7,000 healthcare providers across the U.S., and expects to generate revenues of about $40 million in 2015. Eurofins said Diatherix strengthens its growing footprint in the specialty clinical diagnostics market. Based in Huntsville, Alabama, Diatherix offers molecular diagnostic testing services to hospitals and physicians using TEM-PCR™ (target enriched multiplex PCR) technology for detection of infectious diseases.
According to Diatherix, TEM-PCR is a molecular multiplex technology that allows rapid DNA/RNA identification of multiple pathogens in a single sample and specific genetic drug resistance diagnostic, in six hours. Diatherix said it has developed several diagnostic panels to identify multiple organisms in samples quickly and accurately, helping physicians and healthcare providers choose more effective antimicrobial therapy and improve patient outcomes.
Eurofins said Diatherix’ service offering and expertise complement its acquisition of ViraCor in May 2014 for approximately $255 million. ViraCor provides biologic and large molecular biomarker support, along with molecular testing to hospitals, physicians, and biotech and pharmaceutical companies.
"This acquisition reflects our strategy of expanding and strengthening our network of competence centers,” said Gilles Martin, M.D., Eurofins CEO. “Diatherix strengthens Eurofins' growing footprint in the specialty clinical diagnostics market, with truly unique and innovative services with high positive impact for patient care. In combination with ViraCor and Boston Heart, Diatherix reinforces the group's position in genetic testing to better serve the global healthcare community."