NEW YORK (The Deal) -- Analytical testing service Eurofins Scientific SE on Friday continued its push to expand in the U.S. market, announcing plans to acquire private equity-backed ViraCor-IBT Laboratories Inc. for $255 million.
Lee's Summit, Mo.-based ViraCor is a provider of specialty diagnostic testing, including biologic and molecular testing, to hospitals, physicians and pharmaceutical companies. The company serves 500 institutional clients and more than 4,000 affiliated clinicians and 12 pharmaceutical firms from labs in the Midwest and in Los Angeles, with Ebitda of $25 million on sales of $80 million expected in 2014.
ViraCor-IBT is currently majority owned by Ampersand Capital Partners, a middle market firm focused on the healthcare sector.
The target offers more than 2,000 tests, including a broad menu of tests for infectious diseases, allergies and immunology. Luxembourg-based Eurofins in a statement said that the deal would broaden its portfolio of tests, and give the company entry into a new U.S. market segment.
"VIBT provides Eurofins strong entry and leadership position in the specialty diagnostic testing market, thereby significantly enhancing our capabilities in pharmaceutical testing," Eurofins CEO Gilles Martin said in a statement. "Furthermore, the addition of VIBT into the Eurofins Group allows Eurofins to leverage its renowned competence in genomic testing to better serve the global healthcare community."
The deal is Eurofins' second this week, following its agreement to buy Calscience Environmental Laboratories Inc. for an undisclosed sum. Garden Grove, Calif.-based Calscience is a $20 million-sales environmental and marine chemistry testing laboratory.
Eurofins in 2011 bought Lancaster Laboratories Inc. of Pennsylvania for $200 million. The company globally employs more than 15,000 in 190 laboratories in 36 countries.