Eurofins Scientific (Paris:ERF) ("Eurofins"), a global scientific leader in bioanalytical testing, announces 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.
"Eurofins looks forward to welcoming DNA Diagnostics Center and its highly qualified and dedicated team to Eurofins," commented Dr. Gilles Martin, Eurofins CEO. "This acquisition reinforces our commitment to provide testing solutions to answer critical health, wellness and genetic questions for consumers."
About DNA Diagnostics Center (DDC)
Founded in 1995, DDC is one of the largest private DNA-testing companies, offering diagnostic and genetic tests to help answer relationship, fertility, and health and wellness questions.
DDC provides products approved by the FDA and EMA, and is accredited by the American Association of Blood Banks (AABB), The Ministry of Justice, The College of American Pathologists (CAP), and The Clinical Laboratory Improvement Amendment (CLIA). DDC is also accredited by ACLASS to meet the international standards of ISO 17025 and the American Society of Crime Laboratory Directors Laboratory Accreditation Board-International (ASCLD/LAB).
About Eurofins the global leader in bio-analysis
Eurofins is Testing for Life. Eurofins is the global leader in food, environment, pharmaceutical and cosmetic product testing and in agroscience Contract Research Organisation services. Eurofins is one of the market leaders in certain testing and laboratory services for genomics, discovery pharmacology, forensics, advanced material sciences and in the support of clinical studies, as well as having an emerging global presence in Contract Development and Manufacturing Organisations. The Group also has a rapidly developing presence in highly specialised and molecular clinical diagnostic testing and in-vitro diagnostic products.
With over 50,000 staff across a decentralised and entrepreneurial network of more than 800 laboratories in over 50 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.
The Group's objective is to provide its customers with high-quality services, innovative solutions and accurate results on time. Eurofins is ideally positioned to support its clients' increasingly stringent quality and safety standards and the increasing demands of regulatory authorities as well as the requirements of healthcare practitioners around the world.
In 2020, Eurofins reacted quickly to meet the global challenge of COVID-19, by creating the capacity to help over 20 million patients monthly who may have been impacted by the pandemic with our testing products and our services and directly supporting healthcare professionals working on the front line to fight the virus. The Group has established widespread PCR testing capabilities and has carried out over 24 million tests in its own laboratories, is supporting the development of a number of vaccines and has established its SAFER@WORK testing, monitoring and consulting programmes to help ensure safer environments during COVID-19.
Eurofins 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, the Group draws on the latest developments in the field of biotechnology and analytical chemistry to offer its clients unique analytical solutions.
Shares in Eurofins Scientific 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 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.
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 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 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.
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