BIOSYNEX announces that it has signed a binding offer to acquire 100% of the shares of AVALUN.
BIOSYNEX, which has established itself with the COVID-19 pandemic as a key player in decentralized biology, is highly complementary to AVALUN.
By joining the BIOSYNEX group, AVALUN intends to take part in the objective of becoming a leading global player in the point of care field.
Larry Abensur, CEO of BIOSYNEX: « We are delighted with this acquisition of AVALUN, which perfectly complements BIOSYNEX’s visual rapid test technology with its connected readers. It will accelerate BIOSYNEX’s international development in the fast-growing field of e-health, with automatic reading diagnosis and the possibility of collecting and transmitting patient data. We will now have a point-of-care platform on which we will be able to adapt our rapid tests, which will give us a strategic advantage on which to base our international development, particularly in a post-Covid perspective. This merger with AVALUN fits perfectly with our external growth strategy and will enable BIOSYNEX to diversify its offer towards a greater number of pathologies ».
Vincent Poher, CEO of AVALUN: « We were immediately enthusiastic about the idea of joining the BIOSYNEX group, as the synergies are so obvious: on the one hand, our technological and industrial culture and our LabPad® reader, which has already proved its worth on the European market, and on the other hand, BIOSYNEX’s offer and competence in immunoassays and its immense marketing and commercial success. Our ambition through this merger is to accelerate the conquest of the ultra-portable connected biology markets in France and abroad”.
The legal documentation for the transaction is expected to be finalized by the end of April.
Founded in 2005 and based in Illkirch-Graffenstaden in Alsace, France, BIOSYNEX is a major player in public health with over 200 employees. BIOSYNEX is specialized in the design and distribution of rapid diagnostic tests (RDT). Today, BIOSYNEX is the leader of the RDT French market.
More information on www.biosynex.com.