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Eurofins to Acquire German Clinical Diagnostic Lab Group

NEW YORK (GenomeWeb) – Eurofins Scientific announced today that it has signed an agreement to acquire MVZ für Laboratoriumsmedizin am Hygiene-Institut (Hygel), a group of clinical diagnostic laboratories based in Germany.

According to Eurofins, Hygel employs 370 individuals across its three main sites, as well as in labs that it operates for four local hospitals. It generated more than €35 million ($38.3 million) in revenues last year.

"The acquisition of Hygel 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," Eurofins CEO Gilles Martin said in a statement. "We are committed to supporting Hygel in further developing its service offering and its geographic footprint to better serve the healthcare industry in Germany."

The acquisition is expected to close in early July. Additional terms of the deal were not disclosed.