Eurofins Scientific acquires four French laboratories
Eurofins Scientific, a world-leading bio-analytics company that offers laboratory analysis services to the food and pharmaceutical industries, as well as others, is making further in-roads into France. The company is looking to increase its clinical diagnostic footprint in its domestic market by acquiring four laboratories in the first five months of the year. There is nothing particularly new about this – Eurofins has long profited from making sensible acquisitions to conquer new territories and service provisions, but the pace at which it does so is ramping up.
Eurofins Scientific’s share price is up 12% this month!
SOURCE: Yahoo Finance
The group added to facilities in regions it already operates within with the acquisition of iLab in Provence-Alpes-Côte d’Azur and Biosphere in Rhône-Alpes. It also acquired two laboratory groups in Marseille and Martigues. These laboratory groups will add new skills to Eurofins existing offering, as they both focus on specialized clinical testing services. These acquisitions will further Eurofins ambitions to become a national players with a “strong local footprint” according to the company’s press release.
Dr. Gilles Martin, Eurofins’ CEO, said: “These transactions demonstrate Eurofins’ commitment to developing its clinical diagnostics platform, which should enable the Group to continue deploying its technical know-how and proprietary technologies, including its competencies in specialty diagnostic testing, in France and throughout the rest of Europe.”
Dominion holds Eurofins Scientific in its Global Trends Managed Fund.
If you would you like to receive the Newsfeeds daily, please click here to sign up now!Help us make this Newsfeed better by rating this article. 1 star = Poor and 5 stars = Excellent
- Click here to print this story: Print
The views expressed in this article are those of the author at the date of publication and not necessarily those of Dominion Fund Management Limited. The content of this article is not intended as investment advice and will not be updated after publication. Images, video, quotations from literature and any such material which may be subject to copyright is reproduced in whole or in part in this article on the basis of Fair use as applied to news reporting and journalistic comment on events.