LUXEMBOURG: Eurofins Scientific (EUFI.PA), a global leader in bioanalytical testing, has agreed to acquire Element Materials Technology’s Life Sciences Testing Services business in North America for an enterprise value of $400 million.
The transaction, expected to close in the fourth quarter of 2026, is subject to customary conditions including regulatory approvals, according to a statement.
Element’s North America Life Sciences Testing Services operates 27 laboratories and facilities employing approximately 750 people. The business provides biopharma product testing, environmental testing and food testing services and is projected to generate annual revenues exceeding $150 million in 2026, with profitability comparable to the Eurofins Group average.
The acquisition will expand Eurofins’ laboratory network into key regions of the United States and Canada where the company has historically been underrepresented, according to a company statement.
“The acquisition is a natural fit with Eurofins’ existing businesses, and can build on our well invested, efficient and digital laboratories platform to help drive unique levels of service to customers across the continent,” said Dr. Gilles Martin, CEO of Eurofins Scientific.
Eurofins, which operates more than 950 laboratories across 59 countries with over 65,000 staff, said the acquired operations will benefit from access to its broader customer offerings and economies of scale from its established hub-and-spoke laboratory networks.
