ViraCor-IBT Laboratories

Eurofins Scientific (EUFI.PA), the global leader in bio-analytical testing, and one of the world leaders in genomic services, announces the successful closing of the transaction to acquire 100 per cent of ViraCor-IBT Laboratories, Inc. (VIBT) following thorough review and approval from relevant regulatory bodies.

As communicated on May 9, Eurofins signed an agreement to acquire VIBT for US$ 255m in cash. VIBT is a premier esoteric reference laboratory serving 550 institutional clients and over 4,000 affiliated clinicians as well as 12 leading pharmaceutical companies across the US. The company is expected to generate revenues in excess of US$ 80m and EBITDA of US$ 25m for the calendar year 2014. Eurofins assumes no debt from the acquisition of VIBT. Furthermore, no site consolidations or restructuring costs are foreseen as a result of this acquisition. Based on VIBT’s historic and projected profitability, the transaction should be immediately margin accretive for Eurofins.