Bruker Completes Acquisition of Molecular Diagnostics Innovator ELITech
02 Mayo 2024 - 6:00AM
Business Wire
- ELITech is a differentiated, fast growing and profitable
provider of systems and assays for molecular diagnostics (MDx),
biomedical systems/specialty IVD, and microbiology
- ELITech offers the proprietary, fully automated
sample-to-answer (S2A) systems InGenius® and BeGenius® for
molecular testing in mid-sized hospitals
- Diversified ELITech MDx assay portfolio focused on esoteric
infectious disease testing
- ELITech has its R&D, manufacturing and commercial focus
on Europe and the Americas
Bruker Corporation (Nasdaq: BRKR) is pleased to announce the
closing of its acquisition of ELITechGroup (“ELITech”) for €870
million in cash, excluding the carved out ELITech clinical
chemistry business. ELITech is a differentiated, fast growing and
profitable provider of systems and assays for molecular diagnostics
(MDx), biomedical systems/specialty IVD, and microbiology, with FY
2023 revenue of approximately EUR 150 million, and more than 80%
consumables revenue.
“We are very pleased to welcome ELITech to Bruker,” said Frank
H. Laukien, Bruker’s President and CEO. “The ELITech molecular
diagnostics sample-to-answer platforms for viral infection and
other esoteric MDx assays complement our MALDI Biotyper® platform
for bacterial and fungal identification. The combined offerings
establish Bruker as an innovative and growing infectious disease
specialist in the in-vitro diagnostics (IVD) market.”
“Bruker’s portfolio is a perfect strategic fit for ELITech’s
products,” said Dr. Christoph Gauer, the CEO of ELITech. “Both
companies share a passion for innovation, and both have a history
of bringing disruptive products to the IVD market. The ELITech team
is very much looking forward to becoming part of the Bruker
family.”
Going forward, ELITech will become the Bruker Molecular
Diagnostics business within the Bruker Microbiology & Infection
Diagnostics division of the Bruker CALID Group. For the remainder
of 2024, Bruker expects the ELITech business to generate
approximately $100 million of revenues within Bruker, with non-GAAP
EBIT margins above 20%, and FY 2024 accretion of $0.08 - $0.10 to
Bruker’s non-GAAP EPS, after acquisition financing costs.
About Bruker Corporation – Leader of the Post-Genomic Era
(Nasdaq: BRKR)
Bruker is enabling scientists and engineers to make breakthrough
post-genomic discoveries and develop new applications that improve
the quality of human life. Bruker’s high-performance scientific
instruments and high-value analytical and diagnostic solutions
enable scientists to explore life and materials at molecular,
cellular, and microscopic levels. In close cooperation with our
customers, Bruker is enabling innovation, improved productivity,
and customer success in post-genomic life science molecular and
cell biology research, in applied and biopharma applications, in
microscopy and nanoanalysis, as well as in industrial and cleantech
research, and next-gen semiconductor metrology in support of AI.
Bruker offers differentiated, high-value life science and
diagnostics systems and solutions in preclinical imaging, clinical
phenomics research, proteomics and multiomics, spatial and
single-cell biology, functional structural and condensate biology,
as well as in clinical microbiology and molecular diagnostics. For
more information, please visit www.bruker.com.
Cautionary Statement Regarding Forward-Looking
Statements
This communication contains “forward-looking statements”
regarding Bruker’s acquisition of ELITechGroup. All statements,
other than statements of historical facts, including statements
concerning Bruker’s expectations regarding the ELITech business’
fiscal year 2024 financial outlook, including its revenues,
non-GAAP EBIT margins and non-GAAP EPS accretion from the combined
business; Bruker’s and NanoString’s plans, objectives, goals,
beliefs, strategy and strategic objectives, future events, business
conditions, results of operations, financial position, business
outlook, business trends and other information, may be
forward-looking statements. Forward-looking statements generally
can be identified by the use of forward-looking terminology such as
“anticipate,” “believe,” “contemplate,” “continue,” “could,”
“estimate,” “expect,” “goal,” “intend,” “may,” “plan,” “potential,”
“predict,” “project,” “seek,” “should,” “strategy,” “target,” or
“will” or the negatives of these terms or variations of them or
similar terminology. Readers are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties and are cautioned not to place
undue reliance on these forward-looking statements. Actual results
may differ materially from those currently anticipated due to a
number of risks and uncertainties. Risks and uncertainties include,
but are not limited to, Bruker’s ability to integrate the ELITech
business and achieve the expected synergies; risks relating to the
potential diversion of management’s attention from Bruker’s ongoing
business operations; the risk that any announcements relating to
the transaction could have adverse effects on the market price of
Bruker’s common stock; and the risk that Bruker’s financial results
may not be consistent with current guidance or that Bruker may not
reliably predict the impact of the acquisition on its financial
results or guidance. For further discussion of these and other
risks and uncertainties, see Bruker’s most recent Form 10-K and
Form 10-Q filings with the SEC. Except as required by law, Bruker
does not undertake any duty to update forward-looking statements to
reflect events after the date of this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20240502163748/en/
Investor: Justin Ward Sr. Director, Investor Relations
& Corporate Development Bruker Corporation T: +1 (978) 313-5800
E: Investor.Relations@bruker.com
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