Spain's WerfenLife acquires US-based Accriva Diagnostics for $380M to strengthen its In Vitro Diagnostics division.

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Integral service around a transaction
BY : Diego GutiérrezFebruary Fri, 2017
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

WerfenLifeis a medical giant with an annual turnover of €1.175 million and has been growing steadily. The company has three divisions: 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.

Spain's WerfenLife acquires US-based Accriva Diagnostics for $380M to strengthen its In Vitro Diagnostics division.

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 explained that the product portfolio of Accriva, which employs 460 people, has a "high strategic fit" with the business of WerfenLife's in vitro diagnostics business, WerfenLife's umbrella division 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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