(AOF) – Eurobio Scientific has signed an agreement to acquire the Dutch company Genome Diagnostics BV (GenDx) from its founder and its shareholders for an amount of 135 million euros, net of adjusted cash. The payment will be made entirely in cash, financed with the group’s cash and, in part, by a bank loan for a total of 90 million euros. Completion of this operation is subject to the finalization of the bank financing contract.
In 2021, GenDx achieved 17 million euros in turnover, for 6.9 million euros in EBITDA. During the first half of 2022, GenDx’s revenue is estimated at €11.2 million, for €5.4 million of Ebitda.
This acquisition will allow Eurobio Scientific to complete its commercial portfolio with a range of 100% proprietary products among the most efficient in the field of HLA diagnostics to assess compatibility between donors and recipients in the context of organ and marrow transplants. It will also allow it to strengthen its geographical footprint, mainly in Europe and the USA.
Denis Fortier, Deputy Managing Director and co-CEO of Eurobio Scientific, Chairman of EurobioNext, declared: “This operation is transformative for Eurobio Scientific and is fully in line with the development strategy that we have been carrying out for several years. successfully, based on a direct presence in Europe and an increase in the share of proprietary products”.
Hervé Duchesne de Lamotte, Deputy CEO and CFO of Eurobio Scientific, added: “This merger, which has the support of our financial partners, will allow Eurobio Scientific to significantly increase the share of proprietary products in its turnover and therefore its profitability. The size of the financing associated with this operation also gives Eurobio Scientific the means to calmly pursue the development of the Group”.
Final completion of the acquisition is expected by mid-October.
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