PARIS: Ikonisys SA, a company that specializes in early and accurate cancer detection, announced today that it has entered into an agreement to acquire 100% of Hospitex International, an Italian-based company that provides advanced solutions for thin layer cytology and cancer diagnostics.
Under the terms, Ikonisys will complete the acquisition of 100% of Hospitex International for a total consideration of €4.5 million, paid through the issuance of 2 million new Ikonisys shares at a price of €2.25 per share.
In addition, if certain revenue targets are reached by Hospitex by December 31, 2024, an additional €1.125 million will be paid by Ikonisys in June 2025 through the issuance of additional 0.5 million new Ikonisys shares.
Hospitex has developed a unique patented platform called Nephelometric Smart Technology (NST) that produces high-quality diagnostic slides for any organ targeted. These slides can be analyzed by the Ikoniscope, a fully automated solution from Ikonisys that uses artificial intelligence and big data to diagnose cancer.
Hospitex also operates in three other complementary business units: Hospitex Labs, Hospitex Digital, and Urine24. In 2022, Hospitex generated €1.8 million revenues with an EBITDA margin of 21%.
With this strategic acquisition, Ikonisys will offer an integrated solution to pathology laboratories, combining slide preparation and slide analysis. This will increase the efficiency and effectiveness of the cancer diagnostic process. Ikonisys will also benefit from business synergies and cost optimizations derived by a complementary, integrated, and vertical offer to the same customers.
Together, the companies will offer premium efficient cancer diagnostic solutions on a global scale.
Mario Crovetto, CEO of Ikonisys, stated: “We are pleased to announce this strategic acquisition. Hospitex has proven its ability to develop a cutting-edge patented technology, which is truly complementary to Ikonisys’ solutions. By combining our expertise, we aim to enhance both final diagnosis and laboratory processes, through advanced automation and digitalization of the entire value chain of pathology labs, from slide preparation to analysis. Thanks to our comprehensive vertical solution, we are a player of excellence in cancer diagnostics and look forward to become a world leader in this field.”
Francesco Trisolini, CEO of Hospitex International, added: “By combining our technology with Ikonisys, we are exploiting a great opportunity to expand our technical, commercial and geographical reach. The opportunity to combine technologies for first- and second-level diagnosis opens the way to important breakthroughs, such as liquid biopsy, also on urinary matrix. Together, we will further strengthen our impact on the cancer diagnostics field by providing a comprehensive fully integrated solution to the pathology laboratories. Finally, we can deploy Ikonisys technology in our mass screening solutions, to reach a potential unlimited customer basis.”
Leave a Reply