Eurofins Agrees to Acquire SYNLAB’s Clinical Diagnostics Operations in Spain

LUXEMBOURG--(BUSINESS WIRE)--Regulatory News:

Eurofins (Paris:ERF):

Eurofins Scientific (EUFI.PA), a global scientific leader in bioanalytical testing, with a rapidly developing presence in highly specialised and molecular clinical diagnostics testing and in-vitro diagnostic products, has reached an agreement with SYNLAB to acquire its clinical diagnostics operations in Spain. The transaction is subject to customary conditions, including regulatory approvals, and is expected to close in 2025.

SYNLAB’s clinical diagnostics operations in Spain provide clinical diagnostics testing, including genetics and anatomical pathology services, throughout the country, achieving revenues of approximately €140m in 2023. The Eurofins network’s clinical diagnostics operations in Spain are led by Eurofins Megalab, a specialist in all types of clinical diagnostics testing and in managing intra-hospital laboratories in Spain.

Upon completion of the transaction, Eurofins will become a leading clinical diagnostics operator in Spain with a significant presence and capacity to provide services to public and private clients and cover all regions in the country. The combined company will have a highly specialised workforce of more than 2,000 employees and a best-in-class portfolio of clinical diagnostic laboratory tests, capable of providing high-quality services based on the latest technology and scientific medical advances. In addition, healthcare consumers in Spain will have access to an extensive network of laboratories and blood collection points with the capacity to serve more than 10 million patients and process 100 million laboratory tests annually.

Comment from Dr Gilles Martin, Eurofins CEO: “This acquisition confirms Eurofins’ commitment to providing the best clinical diagnostic testing services to the Spanish market. It is our aim to always be the most trusted and technologically advanced partner of choice for our clients, providing high quality and accessible testing services to both the private and public sector, including regional healthcare services, private hospital groups and insurance companies.”

About Eurofins – the global leader in bio-analysis

Eurofins is Testing for Life. The Eurofins Scientific S.E. network of independent companies believes that it is a global leader in food, environment, pharmaceutical and cosmetic product testing and in discovery pharmacology, forensics, advanced material sciences and agroscience contract research services. It is also one of the market leaders in certain testing and laboratory services for genomics, and in the support of clinical studies, as well as in biopharma contract development and manufacturing. It also has a rapidly developing presence in highly specialised and molecular clinical diagnostic testing and in-vitro diagnostic products.

With ca. 62,000 staff across a decentralised and entrepreneurial network of more than 900 laboratories in over 1,000 companies in 62 countries, Eurofins offers a portfolio of over 200,000 analytical methods to evaluate the safety, identity, composition, authenticity, origin, traceability and purity of a wide range of products, as well as providing innovative clinical diagnostic testing services and in-vitro diagnostic products.

Eurofins companies’ broad range of services are important for the health and safety of people and our planet. The ongoing investment to become fully digital and maintain the best network of state-of-the-art laboratories and equipment supports our objective to provide our customers with high-quality services, innovative solutions and accurate results in the best possible turnaround time (TAT). Eurofins companies are well positioned to support clients’ increasingly stringent quality and safety standards and the increasing demands of regulatory authorities as well as the evolving requirements of healthcare practitioners around the world.

The Eurofins network has grown very strongly since its inception and its strategy is to continue expanding its technology portfolio and its geographic reach. Through R&D and acquisitions, its companies draw on the latest developments in the field of biotechnology and analytical chemistry to offer their clients unique analytical solutions.

Shares in Eurofins Scientific S.E. are listed on the Euronext Paris Stock Exchange (ISIN FR0014000MR3, Reuters EUFI.PA, Bloomberg ERF FP).

Until it has been lawfully made public widely by Eurofins Scientific S.E. through approved distribution channels, this document contains inside information for the purpose of Regulation (EU) 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse, as amended.

Important disclaimer:

This press release contains forward-looking statements and estimates that involve risks and uncertainties. The forward-looking statements and estimates contained herein represent the judgment of Eurofins Scientific S.E.’s management as of the date of this release. These forward-looking statements are not guarantees for future performance, and the forward-looking events discussed in this release may not occur. Eurofins Scientific S.E. disclaims any intent or obligation to update any of these forward-looking statements and estimates. All statements and estimates are made based on the information available to the Company’s management as of the date of publication, but no guarantees can be made as to their completeness or validity.