Tecan Enters Immunoassay Market
This is Tecan’s first diagnostic acquisition, and Tecan plans to expand the business in emerging markets. IBL offers a wide range of products, including endocrinology, immunology and autoimmunity diagnostic tests, and cytokines and antibodies for research. Tecan stated that immunoassays for specialty diagnostics are typically first introduced in a microtitier-plate–based format and are based on proven technologies. IBL has more than 80 employees.
Männedorf, Switzerland 7/30/14—Tecan has agreed to acquire German firm IBL International, a provider of microtiter-plate–based imunoassays for specialty diagnostics for use in research and clinical labs, for €29.0 million ($39.2 million = €0.74 = $1). In 2013, IBL had revenues of €16 million ($21 million = €0.75 = $1). “As part of our strategy, this acquisition marks an important step towards offering fully integrated solutions, including reagents, and thereby adding a new source of recurring revenues,” commented Tecan CEO Dr. David Martyr. Tecan stated that IBL supplies low-volume tests, with labs running many different types of tests each day, making it a market segment in need of integrated instrument and reagent offerings and one in which Tecan will not compete with its Partnering Business customers. IBL will join Tecan’s Life Sciences Business. The acquisition is expected to close in coming weeks and to be accretive to EPS before transaction-related amoritization in the second full year.
