Huntsville, Ala. — Diatherix Laboratories, a HudsonAlpha resident associate company, announced this week that the company has been acquired by Eurofins Scientific, a provider of bio-analytical testing and genomic services, for approximately $50 million, plus an earn-out upon achievement of predefined revenue and profitability targets.
“Eurofins is the right partner for Diatherix as we continue to grow the company on the HudsonAlpha campus,” said Dennis Grimaud, Diatherix founder and CEO. “The employees of Diatherix deserve a great deal of credit for the company’s success.”
Eurofins Scientific is the world leader in food and pharmaceutical products testing with over 17,000 staff in more than 200 laboratories across 36 countries and a portfolio of over 130,000 reliable analytical methods for evaluating the safety, identity, composition, authenticity, origin and purity of biological substances and products. It is also number one in the world in the field of environmental laboratory services and one of the global market leaders in agroscience, genomics, discovery pharmacology and central laboratory services.
“Diatherix strengthens Eurofins’ growing footprint in the specialty clinical diagnostics market, with truly unique and innovative services with high positive impact for patient care,” said Eurofins CEO Gilles Martin, M.D. “In combination with ViraCor and Boston Heart, Diatherix reinforces the group’s position in genetic testing to better serve the global healthcare community.”
Founded in 2008, Diatherix offers molecular diagnostic testing services to hospitals and physicians using TEM-PCR™ (target enriched multiplex PCR), a novel multiplex PCR amplification strategy invented by HudsonAlpha Faculty Investigator Jian Han, M.D., Ph.D., that is used in the detection of infectious diseases. Diatherix employs around 100 people, serves close to 7,000 healthcare providers across the U.S.
Diatherix has developed several diagnostic panels to identify multiple organisms in samples quickly and accurately, helping physicians and healthcare providers choose more effective antimicrobial therapy and improve patient outcomes.
“Diatherix has been a tremendous campus partner with HudsonAlpha. Now with Eurofins Scientific, Diatherix will continue to grow as we build a biotech hub in Huntsville. We look forward to a bright future with Eurofins and Diatherix,” said HudsonAlpha Vice President for Economic Development Carter Wells.