Anteo Diagnostics sells its subsidiary DIAsource ImmunoAssays to BioVendor Group
Frankfurt, 27 September 2017. Effective 5 September 2017, BioVendor – Laboratorní medicína a.s. (hereafter “BioVendor”) acquired 100% of the shares of DIAsource ImmunoAssays SA (hereafter “DIAsource”) from the Australian stock listed company Anteo Diagnostics (ASX: ADO).
DIAsource, based in Louvain-La-Neuve, South of Brussels, employs 80 people and is a leading provider in IVD (In Vitro Diagnostics) market segments such as Vitamin D, ELISA and RIA assays, and achieved double digit growth of both revenue and EBITDA over the last five years. It has direct sales representation in Belgium, France and Spain and, via its international distributor network, strong sales in Middle East, Asia, and South America. Its clinical diagnostics product catalog features over 190 ELISA and 140 RIA assays.
For BioVendor, the international company with headquarters in Brno, Czech Republic, this acquisition offers not only an extension with a broad panel of ELISA and RIA assays, antibodies and reagents for clinical diagnostics, but also direct sales presence in Belgium, France and Spain, and a worldwide network of over 100 sales and distribution partners in over 70 countries, thereby representing another important step towards internationalization.
The purchase price paid by BioVendor amounted to EUR 15.9 million. With DIAsource representing the largest acquisition to date, BioVendor continues its long-term plan of international expansion after previous acquisitions, in the last three years since 2014, of ImmunoLab (Germany), ViennaLab Diagnostics (Austria), and Oxford Biosystems (UK), following to previous acquisition of TestLine Clinical Diagnostics (Czech Republic).
ACXIT Capital Partners acted as exclusive financial advisor to Anteo Diagnostics on this transaction, which is a strong testimony for the Group’s international reach, involving companies domiciled in Australia, Belgium and the Czech Republic. It also adds another reference transaction in the diagnostics sector, one of the key target segments within our Life Sciences/ and Healthcare practice.
Dr. John Hurrell, Chairman of Anteo Diagnostics commented: “We were extremely pleased with the performance of ACXIT Capital during the entire sales process. Their level of professionalism and truly international network within the diagnostics industry and the financial community certainly added significant value.”
ABOUT ANTEO GROUP
Anteo Group – Anteo Diagnostics Limited (ADO:ASX) & Subsidiaries – is a global nanochemistry technology and medical supply group, developing, commercialising, manufacturing and distributing products for the life sciences, clinical diagnostics and bioseparations markets, and creating new applications in the energy and medical devices sectors.
Through Anteo Technology, the Anteo Group owns a patented nanochemistry surface engineering technology which unites the strength and stability of covalent binding with the gentleness of passive binding through multi-point chelation. Through the use of its reagents binders, coatings or primers, Anteo provides materials and services for high-value commercial applications. Markets include protein binding and antibody coupling (e.g. point of care devices), primers for in-vivo medical devices and medical drug delivery, and coatings with commercial applications across a broad range of industry sectors, including life sciences, in vitro diagnostics, medical devices and energy. (www.anteotech.com)
ABOUT DIASOURCE IMMUNOASSAYS
Based in Louvain-La-Neuve, Belgium, the Company manufactures and sells manual kits and open automation for clinical diagnostics in more than 70 countries worldwide, both direct and via its worldwide network of distribution partners. (www.diasource-diagnostics.com)
ABOUT BIOVENDOR GROUP
International diagnostics holding with headquarters in Brno, Czech Republic, employs over 380 employees across 14 companies operating in six countries. The group includes a major Czech distributor of a wide range of in vitro diagnostic products and a specialized assortment of clinical products. BioVendor offers a complete assortment for in vitro diagnostics, from immunochemistry through clinical biochemistry, hematology, microbiology, molecular biology to pathology. BioVendor is also an internationally active diagnostics and biotechnology company with its own research, development, production and business network. (www.biovendor.com)
ACXIT Capital Partners is a leading independent corporate finance and investment advisory firm for mid-market clients and entrepreneurs in Europe and beyond. Since 1998, ACXIT offers its clients comprehensive corporate finance advisory services including M&A and capital markets advisory as well as restructuring, equity/debt and strategic advisory. As an independent, privately owned firm we maintain offices and representations in Frankfurt, Berlin, Munich, Leipzig, Zurich, Hong Kong and New York, as well as strong alliances in France, China and India. (www.acxit.com)
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