PARIS, FRANCE: Eurobio Scientific , a leading French group specializing in specialty in vitro medical diagnostics, has announced its intention to acquire 100% of the capital of Diagnostic International Distribution SPA (“DID”), a prominent company focused on the distribution of in vitro diagnostic tests in Italy.
The acquisition, which is expected to be completed within approximately 45 days, represents a significant step in Eurobio Scientific’s European expansion strategy.
Established in 1946 and headquartered in Milan, Italy, DID boasts a team of 26 employees and specializes in offering a comprehensive range of specialized tests and instruments through exclusive distribution agreements.
The company has earned a solid reputation in the field of microbiology, providing customers with a wide range of solutions including reagents and instruments.
In addition to serving hospitals and private biology laboratories, DID has a presence in the veterinary, industrial, and nutrition markets. The company has also recently ventured into local biology, particularly Point of Care (POC) testing. DID is ISO9001 certified.
Currently, DID distributes specific products from Eurobio Scientific, including the EurobioPlex range of PCR tests for infectious diseases.
By acquiring DID, Eurobio Scientific gains direct access to the Italian market, which is the third-largest market for in vitro diagnostics in Europe, with an annual turnover of approximately €1.9 billion from hospital and private laboratories. Italy has a population of around 60 million inhabitants.
Denis Fortier, Deputy Managing Director of Eurobio Scientific, expressed his excitement about the acquisition, stating, “Welcome to DID within our Group, which will directly be present in one of the largest diagnostics markets in Europe. Our financial position, strengthened by the COVID years, allows us to achieve this growth and enhance our ability to export our own products. The acquisition of DID contributes to the acceleration of our transformation from a primarily French player to an international player in diagnostics.”
Enrico Maffioli, CEO of DID, shared his pride in the merger, highlighting the shared business model between Eurobio Scientific and DID, which includes exclusive distribution contracts and the integration of Eurobio Scientific’s proprietary products from its own research and development.
Maffioli added, “The quality of this new product portfolio will allow us to continue our development throughout Italy, at a time when diagnostics is becoming an increasingly important part of our healthcare system.”
The financial terms of the acquisition have not been disclosed, but it will be funded through cash payments. Eurobio Scientific’s move to acquire DID aligns with its objective of expanding its presence in Europe and further establishing itself as an international player in the diagnostics industry.