12th May 2014 Content supplied by: Eurofins Scientific Group
Eurofins Acquires ViraCor-IBT Laboratories
Eurofins Scientific has signed a definitive agreement to acquire ViraCor-IBT Laboratories, Inc. the esoteric reference laboratory providing biologic and large molecular biomarker support, along with molecular testing (qPCR/sequencing) to hospitals, physicians and biotech/pharmaceutical companies.
VIBT is based in the Kansas City metro area with a satellite lab in Los Angeles. The Company serves 550 institutional clients and over 4,000 affiliated clinicians as well as 12 leading pharmaceutical companies across the US. With over 30 years of specialty diagnostic testing experience, the Company is expected to generate revenues in excess of $80m for calendar year 2014, (having grown organically by 12% in the first quarter of 2014 and 10% in 2013) and EBITDA of $25m.
VIBT believes it is one of the largest privately-held independent laboratories servicing the specialty diagnostic market segment focused on helping physicians treat time-sensitive patients. With over 2,000 tests available, the Company offers one of the broadest menus of high-complexity testing available for infectious disease, immunology and allergy complications. VIBT's facilities include the latest state-of-the-art testing capabilities including quantitative and qualitative PCR, DNA sequencing, ELISA and other immunoassay platforms. The Company provides industry-leading turnaround times as short as 8 to 10 hours from the point of sample receipt to result reporting for its most time-sensitive tests.
Date Published: 12th May 2014
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