Corporate Banner
Satellite Banner
Immunology
Scientific Community
 
Become a Member | Sign in
Home>News>This Article
  News
Return

Eurofins to Acquire ViraCor-IBT Laboratories

Published: Monday, May 12, 2014
Last Updated: Monday, May 12, 2014
Bookmark and Share
Company has signed a definitive agreement to acquire ViraCor-IBT Laboratories from majority owner Ampersand Capital and other shareholders for approximately $255m.

VIBT is a premier esoteric reference laboratory providing biologic and large molecular biomarker support, along with molecular testing (qPCR/sequencing) to hospitals, physicians and biotech/pharmaceutical companies. VIBT is based in the Kansas City metro area with a satellite lab in Los Angeles. The Company serves 550 institutional clients and over 4,000 affiliated clinicians as well as 12 leading pharmaceutical companies across the US.  With over 30 years of specialty diagnostic testing experience, the Company is expected to generate revenues in excess of $80m for calendar year 2014, (having grown organically by 12% in the first quarter of 2014 and 10% in 2013) and EBITDA of $25m.

VIBT believes it is one of the largest privately-held independent laboratories servicing the specialty diagnostic market segment focused on helping physicians treat time-sensitive patients.  With over 2,000 tests available, the Company offers one of the broadest menus of high-complexity testing available for infectious disease, immunology and allergy complications. VIBT's facilities include the latest state-of-the-art testing capabilities including quantitative and qualitative PCR, DNA sequencing, ELISA and other immunoassay platforms. The Company provides industry-leading turnaround times as short as 8 to 10 hours from the point of sample receipt to result reporting for its most time-sensitive tests.

With this acquisition, Eurofins strengthens both itspharmaceutical and genomic service offering and establishes a leading presence in the specialty clinical testing services for infectious disease, immunology, allergy, HLA and serology serving hospitals, clinicians and pharmaceutical companies. This acquisition of VIBT is a further demonstration of Eurofins' commitment to serve the emerging needs of the clinicians, pharmaceutical and biotechnology leaders with laboratory services of the highest quality and reliability.

Comment from Dr. Gilles Martin, Eurofins CEO: "This acquisition reflects our strategy of expanding our network of competence centers. VIBT provides Eurofins strong entry and leadership position in the specialty diagnostic testing market, thereby significantly enhancing our capabilities in pharmaceutical testing. Furthermore, the addition of VIBT into the Eurofins Group allows Eurofins to leverage its renowned competence in genomic testing to better serve the global healthcare community."

The transaction also includes retaining the high quality workforce of nearly 270 employees.  Upon closing of the transaction the company will continue to be known as ViraCor-IBT Laboratories, Inc. Completion of the transaction is expected in the next 60 days and is subject to applicable regulatory approvals and customary closing conditions. Given that VIBT already has a large single-site laboratory in Kansas City and a specialized satellite laboratory in California, and is operating in a new market segment for Eurofins in the US, no site consolidations or restructuring costs are foreseen as a result of this acquisition.



Further Information

Join For Free

Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 2,900+ scientific posters on ePosters
  • More than 4,200+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.


Scientific News
Leukemia’s Surroundings Key to its Growth
Researchers at The University of Texas at Austin have discovered that a type of cancer found primarily in children can grow only when signaled to do so by other nearby cells that are noncancerous.
Unique Mechanism for a High-Risk Leukemia
Researchers uncovered the aberrant mechanism underlying a notoriously treatment-resistant acute lymphoblastic leukemia subtype; findings offer lessons for understanding all cancers.
Food Triggers Creation of Regulatory T Cells
IBS researchers document how normal diet establishes immune tolerance conditions in the small intestine.
Therapeutic Approach Gives Hope for Multiple Myeloma
A new therapeutic approach tested by a team from Maisonneuve-Rosemont Hospital (CIUSSS-EST, Montreal) and the University of Montreal gives promising results for the treatment of multiple myeloma, a cancer of the bone marrow currently considered incurable with conventional chemotherapy and for which the average life expectancy is about 6 or 7 years.
Cellular 'Relief Valve'
A team led by scientists at The Scripps Research Institute (TSRI) has solved a long-standing mystery in cell biology by showing essentially how a key “relief-valve” in cells does its job.
Switch Lets Salmonella Fight, Evade Immune System
Researchers at the University of Illinois at Chicago have discovered a molecular regulator that allows salmonella bacteria to switch from actively causing disease to lurking in a chronic but asymptomatic state called a biofilm.
Tricked-Out Immune Cells Could Attack Cancer
New cell-engineering technique may lead to precision immunotherapies.
Neural Networks Adapt to the Presence of a Toxic HIV Protein
HIV-associated neurocognitive disorders (HAND) afflict approximately half of HIV infected patients.
HIV Protein Manipulates Hundreds of Human Genes
Findings search for new or improved treatments for patients with AIDS.
Breaking the Brain’s Garbage Disposal
The children’s ataxia gene problem turned out to be not such a big deal genetically — it was such a slight mutation that it barely changed the way the cells made the protein.
SELECTBIO

Skyscraper Banner
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
2,900+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
4,200+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FOR FREE!