June 18, 2008
bioMerieux Increases Its Lead in Microbiology With the Acquisition of the Swedish Diagnostics Specialist AB BIODISK
bioMerieux, a world leader in the field of in vitro diagnostics has concluded an agreement to acquire the privately held AB BIODISK, a Swedish in vitro diagnostics company with facilities for research and development, manufacturing and marketing located in Stockholm. This is bioMerieux's fourth acquisition in under two years.
Founded over 40 years ago, following research by Hans Ericsson, Professor of Microbiology at the Karolinska Institute, the company is internationally recognized for its antimicrobial resistance testing range and particular expertise in susceptibility testing of fastidious and unusual organisms. The company's leading product line, Etest(R), is used to determine the exact Minimum Inhibitory Concentration (MIC) of antibiotics, antifungal agents and antimycobacterial agents. Particularly rapid and easy to use it has become a reference in microbiology laboratories, with over 100 antibiotics available in the range.The two companies have excellent commercial synergies. The AB BIODISK product portfolio is very complementary to bioMerieux's culture media and automated VITEK(R) range for antibiotic susceptibility testing. The addition of the Etest will bring patients and customers a high medical-value test result for critical infections and critical patient treatment, where a precise MIC valuation is needed. The AB BIODISK product range will also be an asset for use in pharmaceutical companies' new drug development, boosting bioMerieux's theranostics business.
AB BIODISK has 53 employees. The company's 2007 sales were over 13 million euros and it is very profitable. AB BIODISK products are mainly sold through distributors, with the exception of Sweden and the U.S. where sales are direct. bioMerieux will commercialize the company's products under the bioMerieux brand through its global network in 150 countries, expanding their international footprint.
"For the past 18 months, bioMerieux has been following an ambitious strategy in microbiology, building on our leadership position with an enhanced portfolio of innovative solutions to better serve our customers," declared Stephane Bancel, Chief Executive Officer of bioMerieux. "Etest is a great brand and we are excited to welcome such a well-respected and highly skilled team to our company," he added.
The details of the deal were not disclosed.
Advancing Diagnostics to Improve Public Health
A world leader in the field of in vitro diagnostics for 45 years, bioMerieux is present in more than 150 countries through 38 subsidiaries and a large network of distributors. In 2007, revenues reached EUR 1.063 billion with 84% of sales outside of France.
bioMerieux provides diagnostic solutions (reagents, instruments, software) which determine the source of disease and contamination to improve patient health and ensure consumer safety. Its products are used for diagnosing infectious diseases and providing high medical value results for cardiovascular emergencies and cancer screening and monitoring. They are also used for detecting microorganisms in agri-food, pharmaceutical and cosmetic products. bioMerieux is listed on the NYSE Euronext Paris market (Code: BIM - Code ISIN: FR0010096479). Other information can be found at www.biomerieux.com.