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Eurobio Scientific Acquires Diagnostic International Distribution

NEW YORK – Eurobio Scientific said Tuesday that it has signed a deal to acquire Diagnostic International Distribution of Italy as part of its plan to become a major player in Europe's diagnostics market.

Denis Fortier, deputy managing director of France-based Eurobio, said in a statement that the COVID-19 pandemic strengthened the company's finances and the acquisition of DID gives it access to the Italian market and will help accelerate the company's transition "from a mainly French player to an international player in diagnostics." The firm also acquired Belgium-based Biomedical Diagnostics in June 2022, and Netherlands-based Genome Diagnostics in August.

Financial and other terms of the deal were not disclosed. Eurobio said it expects the sale will be finalized within about 45 days.

Milan, Italy-based DID is a 26-employee firm that specializes in the distribution of in vitro diagnostic tests in Italy, especially microbiology reagents and instruments. The firm generated revenues of about €26.8 million in 2022. It supplies hospitals, private biology laboratories, and companies in veterinary, industrial, and nutrition markets, and it recently expanded into point-of-care product sales.

DID CEO Enrico Maffioli said in a statement that the deal with Eurobio "will allow us to continue our development throughout Italy, at a time when diagnostics is becoming an increasingly important part of our healthcare system."