WerfenLife, the Catalan medical giant with an annual turnover of €1.175 million, wants to boost its in vitro diagnostics division and has bought Accriva Diagnostics and Germany's Tem. On the other hand, it wants to reduce the weight of its medical devices division and intends to sell Bolton Medical.
Werfenlife Corporate finance analysis
WerfenLife, es un gigante médico que factura €1.175M anuales y que no ha para de crecer. La empresa tiene tres divisiones: in vitro diagnostics and medical material distribution and medical devices. Although all three divisions are growing year on year, the medical devices division has the smallest share of sales and WerfenLife has decided to specialise its group in the larger, more scalable and profitable divisions: in vitro diagnostics and medical material distribution. That is why it is divesting its devices division and raising resources for its diagnostics division.
Last year they were planning to go public, but in the end they did not go public because the company was profitable. As long as WerfenLife has this capacity to generate funds, the Rubiralta brothers do not plan to go to the stock market.
Acquisition of Accriva Diagnostics for €358M
San Diego-based Accriva, which had a turnover of $94 million in 2016, develops, produces and distributes diagnostic tests for coagulation.
WerfenLife ha explicado que la cartera de productos de Accriva, que cuenta con 460 empleados, tiene un «alto encaje estratégico» en el negocio de Werfen, la división que aglutina el negocio de diagnóstico in vitro de WerfenLife.
This acquisition complements the acquisition of Germany's Tem, also in the in vitro diagnostics segment.
Purchase of Tem in 2016
In October 2016 Werfenlife bought Tem, for €125M.
Tem, which also operates in the US, specialises in the development, production and distribution of diagnostic tests that help to make better decisions about the need for blood transfusion and the use of blood products. The company has a turnover of around €30M.
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