Eurobio Scientific increases its footprint in Italy
Eurobio Scientific, a leading French group in in vitro specialty medical diagnostics and life sciences, announces the signing on March 11, 2025 of an agreement to acquire the assets of the Life Science unit of Voden Medical Instruments Spa. The unit focuses on diagnostics, cellular and molecular biology as well as genome analysis and distributes our GenDx line of products in Italy. Payment will be made entirely in cash, financed with both the Group's cash and through a bank loan. Completion of this transaction is planned for July 1st, 2025.
As of March 1st, 2025, the Group also completed the acquisition of Quimark SRL, distributor of our oncology products, EndoPredict® and Prolaris®, in Italy.
These acquisitions will allow Eurobio Scientific to reinforce its operations in Italy and commercially integrate the distribution of its proprietary products. On an annual basis, Eurobio Scientific anticipates that they will bring approximately 10 million euros of new revenues in Italy, including 4 million euros for proprietary products.
In addition, the group received notice in late February that one of its US suppliers. T2 Biosystems, has closed its operations and laid off its entire workforce, thereby becoming unable to manufacture and service instruments and reagents. In 2024, the group made approximately 1,9 million euros in revenues with this supplier, including 1,7 million euros in Italy which was its largest market. The group is in the process of terminating this distribution and assessing the impact on its Italian customers.
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