Eurofins expands its clinical diagnostic footprint with the acquisition of Megalab in Spain
Eurofins Scientific announces the acquisition of Megalab SA (“Megalab”), one of the top five clinical diagnostic laboratory groups in Spain, for approximately EUR 40m.
Headquartered in Madrid, where the central laboratory is based, Megalab operates 83 sites, of which 35 are located in private hospitals. It has the biggest geographical coverage in Spain with direct access to patients in 35 out of 50 provinces. With its strong reputation within the domestic healthcare industry for high-quality clinical testing services and its extensive geographic footprint, Megalab has entered into reimbursement agreements with the main private insurers offering their patients a broad range of diagnostic testing services including immunology, molecular diagnostics and cytogenetics. The company employs about 550 staff across its sites, and expects to generate revenues in excess of EUR 45m in 2016.
Megalab’s rapid growth in recent years validates its strategy of building market leadership both organically and through acquisitions, region-by-region. Given the ongoing consolidation in the clinical diagnostic testing market in Spain, Megalab is well-positioned to leverage and further strengthen its footprint in the country.
The acquisition of Megalab provides Eurofins entry into the clinical diagnostic testing market in Spain, and reinforces its footprint to serve healthcare professionals in Europe. In return, Eurofins’ vast analytical portfolio and technical resources, as well as the Group’s world class laboratory and systems infrastructure, should support the further development of Megalab’s portfolio of diagnostic tests and services, as well as the expansion of its footprint and client reach.
Comment from Dr. Gilles Martin, Eurofins CEO: “The acquisition of Megalab expands Eurofins’ clinical diagnostic footprint in Europe, and reinforces the platform on which to deploy the Group’s technical know-how and proprietary technologies, including our competencies in specialty diagnostic testing. We are committed to supporting Megalab in further developing its service offering and its geographic footprint to better serve its growing network of patients and clinicians in Spain.”
Other news from the department business & finance
Get the life science industry in your inbox
From now on, don't miss a thing: Our newsletter for biotechnology, pharma and life sciences brings you up to date every Tuesday and Thursday. The latest industry news, product highlights and innovations - compact and easy to understand in your inbox. Researched by us so you don't have to.
Most read news
More news from our other portals
See the theme worlds for related content
Topic world Diagnostics
Diagnostics is at the heart of modern medicine and forms a crucial interface between research and patient care in the biotech and pharmaceutical industries. It not only enables early detection and monitoring of disease, but also plays a central role in individualized medicine by enabling targeted therapies based on an individual's genetic and molecular signature.
Topic world Diagnostics
Diagnostics is at the heart of modern medicine and forms a crucial interface between research and patient care in the biotech and pharmaceutical industries. It not only enables early detection and monitoring of disease, but also plays a central role in individualized medicine by enabling targeted therapies based on an individual's genetic and molecular signature.
