Eurofins continues acquisition strategy, purchases Selcia
Eurofins Scientific, the world’s leading laboratory group which provides testing and support services to the pharmaceutical, food, environmental and consumer products industries and to governments, is continuing with its strategy of growth through acquisition. It’s worked well for Eurofins in the past, and there’s no sign of it slowing down. Earlier this month, the company announced that it has acquired Labo Van Poucke (“LVP”) a “leading laboratory performing human medical testing covering all branches of clinical biology.”
Eurofins share price has appreciated by 33% over the last 12 months
SOURCE: Yahoo Finance
LVP was founded in 1969 and has been family-owned since inception. It performs the majority of medical analyses commonly requested by general practitioners and specialists, as well as veterinary and drinking water analysis.
Holding various certifications and accreditations in Belgium, the company is an attractive entry point into the Belgian market for Eurofins, along with a license to sell its wide range of existing services in the country.
Dr. Gilles Martin, Eurofins CEO, made the following comment over the deal:
"We are extremely pleased to welcome Labo Van Poucke, a family-owned clinical diagnostics specialist, to Eurofins’ family of businesses. This acquisition provides Eurofins with a valuable entry into the Belgian clinical diagnostics market; in return LVP will gain access to the full range of services and capabilities of the Eurofins Group, which will significantly increase LVP’s testing portfolio for the benefit of medical practitioners and their patients”.
Dominion holds Eurofins Scientific in its Global Trends Managed Fund.
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