Eurofins to acquire DNA Diagnostics Center
Eurofins to grow genetic testing capabilities and significantly expand further into consumer testing market
Eurofins Scientific announced that its subsidiary Eurofins Clinical Testing US Holdings, Inc. has entered into an agreement to acquire DNA Diagnostics Center (“DDC”), a leader in consumer genetic testing. DDC anticipates delivering revenues of over US$55m in 2021.
DDC is one of the most highly accredited genetic-testing laboratories in the world and was founded on the premise that the technological advancements in DNA testing should translate into services that are accessible and affordable to everyone. The company provides comprehensive consumer and legal DNA testing services for paternity and family relationships, fertility, lifestyle, veterinary, and forensics. DDC is an established and trusted consumer focused testing laboratory, with an extensive and global distribution network.
Eurofins believes that consumer genetic testing, to support personalised lifestyle and health awareness is a significant growth opportunity, and this acquisition will support and significantly accelerate Eurofins’ strategy to expand further into this market. DDC has a highly successful and growing test and product menu and will benefit from Eurofins access to additional markets. We also expect leverage from DDC distribution and sales of existing Eurofins testing capabilities into the consumer market for both genetic and other health and wellness related tests.
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