Acquisition of a controlling stake in Bio-Access/Labazur clinical laboratories

With 103 sites, 7 of which  are regional central laboratories, located in 4 of the country's main regions, Bio-Access is one of the leading groups of medical biology laboratories (LBMs) in France, with a focus in the southeast (Rhône-Alpes, Provence-Alpes-Côte d'Azur), and in the west (Bretagne) of the country, as well as in Guyana. The company's multiple biological diagnostic competencies include immunology, oncology and infectious diseases. Bio-Access employs about 1,100 staff across its laboratories, and expects to generate revenues of about EUR 140m in 2015, with an EBITDA margin in-line with Eurofins' objective.

Founded in 2009, Bio-Access has grown rapidly by consolidating its core regions through acquisitions, to create a strong platform to provide high-quality, comprehensive medical diagnostic testing services. Given the ongoing consolidation in the clinical testing market in Europe, and specifically in France, the company is well-positioned to leverage and further strengthen its footprint in the country.

Bio-Access provides Eurofins an entry platform into the complex European clinical diagnostic testing market, on which to deploy its technical know-how and proprietary technologies, including the competencies in specialty diagnostic testing that the Group has obtained, and continues to develop, following the acquisition of ViraCor, Boston Heart and Diatherix in the US. Eurofins' vast analytical portfolio and technical resources, as well as the Group's world class laboratory and systems infrastructure, should facilitate the further development of Bio-Access' portfolio of genomic tests and services, as well as the expansion of its footprint and client reach.

Comment from Dr. Gilles Martin, Eurofins CEO: "This investment in Bio-Access provides Eurofins an opportunity to expand the Group's growing clinical diagnostic competence in Europe. I am proud to welcome an excellent team of successful clinicians and entrepreneurs who have demonstrated their talent in building in record time a network of high quality clinical laboratories with exceptional levels of medical competence and service to patients and clinicians. We are committed to supporting Bio-Access in further developing its service offering and its geographic footprint to better serve its existing and potential network of patients and clinicians."

"This transaction provides us the means to continue our development in the regions where we operate, as well as throughout France, as peers and colleagues nationwide have expressed strong interest in joining the Labazur project. Moreover, this partnership with Eurofins will enable us to expand our analytical portfolio", said Dr. Jean-Louis Oger, Bio-Access/Labazur CEO.