Eurobio Scientific continues its international development with the acquisition of DID in Italy, Europe's third largest diagnostics market

Eurobio Scientific continues its international development with the acquisition
of DID in Italy, Europe's third largest diagnostics market

Paris, June 13, 2023 – 7:30 am

Eurobio Scientific (FR0013240934, ALERS, PEA-PME eligible), a leading French group in specialty in vitro medical diagnostics, announces the signing of an agreement to acquire 100% of the capital of Diagnostic International Distribution SPA ("DID"), a company specializing in the distribution of in vitro diagnostic tests throughout Italy. The acquisition is expected to be finalized within approximately 45 days. In 2022, DID generated €26.8 million in revenue. The acquisition, the financial terms of which are not disclosed, will be paid for in cash.

A solid reputation in microbiology tests for medical diagnosis

Founded in 1946, DID is based in Milan, Italy, with a staff of 26 employees. The company offers a range of specialized tests and instruments through exclusive distribution agreements. The company became a key player in the field of microbiology for which it provides its customers with a very complete range of solutions including reagents and instruments. Beyond hospitals and private biology laboratories, DID is present in the veterinary, industrial and nutrition markets. More recently, the company has also expanded into local biology (Point Of Care, POC). It is ISO9001 certified.

DID currently markets specific products from the Eurobio Scientific group by distributing the EurobioPlex range of PCR tests for infectious diseases.

With a population of approximately 60 million inhabitants, Italy represents the third market for in vitro diagnostics in Europe, after Germany and France, for approximately 1.9 billion euros per year made from hospital and private laboratories.

An acquisition that is part of the continuity of the group's European development

This acquisition allows Eurobio Scientific to pursue its European development strategy. With the advantage of an already long-standing commercial relationship, it opens up the Italian market to Eurobio Scientific, where the group was not directly present.

Denis Fortier, Deputy Managing Director of Eurobio Scientific, declares: "Welcome to DID within our Group which will directly be present on one of the largest diagnostics markets in Europe. Our financial position strengthened by the COVID years allows us to achieve this growth in order to strengthen our ability to export our own products. The acquisition of DID therefore contributes to the acceleration of our transformation from a mainly French player to an international player in diagnostics”.

For Enrico Maffioli, CEO of DID, "I am proud of DID's merger with Eurobio Scientific because we share a common business model, with exclusive distribution contracts and now proprietary products from the Group's own R&D. The quality of this new product portfolio will allow us to continue our development throughout Italy, at a time when diagnostics is becoming an increasingly important part of our healthcare system”.

Next financial meetings
Annual Shareholders’ meeting: June 13, 2023

Attachment

• 230612_EUROBIO_DID_ACQUISITION_EN