Biosynex Set to Strengthen POC Testing Portfolio

Biosynex will acquire Chembio for about $17.2 million and the deal is expected to close in 1Q23.

MDDI Staff

February 1, 2023

1 Min Read
Image by Parradee Kietsirikul / iStock via Getty Images

Biosynex is gearing up to acquire Chembio for $17.2 million in an all-cash transaction. The deal is expected to close in 1Q23.

Each company specializes in point-of-care diagnostic tests for the professional and at home markets. Chembio focuses on infectious disease assays covering sexually transmitted infections, respiratory viruses and fever and tropical disease, built on the DPP, SURE CHECK and STAT-PAK proprietary, accurate and easy-to-use technology platforms.

Strasbourg, France-based Biosynex provides pharmacies and professional healthcare settings with a diversified portfolio of rapid tests covering different market segments including infectious disease and women’s health tests, Point of Care devices and molecular diagnostics systems. Biosynex will operate Chembio and its 100% owned German, Brazil, and Malaysia subsidiaries as a wholly owned group.

The firms said Chembio’s sexually transmitted infection, tropical and fever and respiratory assays complement Biosynex’s current virology portfolio to create a more comprehensive offering.

The combined commercial team and distribution partners expand Biosynex’s presence in the United States, Brazil, Africa, and Asia as well as bolster Biosynex’s European network.

“The acquisition of Chembio significantly advances our mission to develop, manufacture and market rapid diagnostics for screening, diagnosis and prevention to facilitate patient care and monitor health,” said Larry Abensur, CEO of Biosynex. “Chembio’s portfolio of diagnostic solutions and technology platforms complement our current test portfolio. DPP, SURE CHECK and STAT-PAK are clinically validated with accurate results, ease-of-use, and FDA and global regulatory approvals including CE marked and WHO prequalified products to provide transformative commercial opportunities that can represent meaningful growth drivers over the near and long-term. Additionally, there are numerous strong synergies across our businesses that can be leveraged to create significant cost savings as a scaled organization. We are excited to enhance our position as key European player for professional point-of-care and self-test diagnostics.”



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