© zoetis Business | August 09, 2016
Zoetis acquires Scandinavian Micro Biodevices
Zoetis purchases a pioneer in developing and manufacturing microfluidic “lab on a chip” diagnostics for veterinary point-of-care services for USD 80 million.
Privately-held-Scandinavian Micro Biodevices (SMB) - with approximately 35 employees and headquarters in Farum (Denmark) - commercialized the first point-of-care, “lab on a chip” (LOC), specialty diagnostic analyzers and tests used in veterinary critical care, primarily for companion animals. SMB’s pipeline of products presents opportunities in other specialty segments that will bring to market innovative technologies that have the potential to advance the standards of diagnosis and care in animal health. The company currently sells its QuickVet analyzer and test cartridges in international markets, and it supplies the VSpro line in North America to Abaxis through a distribution agreement. “We are confident that we can achieve our ambitions to grow our business as part of Zoetis,” said Ole Kring, Chief Executive Officer of SMB. “Zoetis has grown its point-of-care immunodiagnostics portfolio and is renowned for developing and providing the veterinary community with high-quality medicines, vaccines and technical services. By combining our experience, production and R&D capabilities, we can enhance our ability to develop point-of-care diagnostics to address veterinarians’ most pressing challenges in clinics and on farms. With Zoetis’ global presence, we expect to bring next-generation diagnostic solutions to more veterinary customers worldwide.” The veterinary diagnostics market is valued at more than USD 4.3 billion globally, including reference laboratory, point-of-care diagnostics, and diagnostic imaging and is expected to grow to USD 6.7 billion by 20212. The point-of-care segment, which comprises approximately 50 percent of the overall animal testing market, remains the fastest growing segment at 8 to 9 percent CAGR2 , driven by demand for easy-to-administer, rapid tests for use in clinics and on farms. “It is a privilege to welcome the Scandinavian Micro Biodevices team, who share our zeal for supporting customers and helping them best serve the animals in their care,” said Michael Sullivan, Vice President, Global Diagnostics at Zoetis. “The SMB business will be tightly integrated with our Diagnostics organization and will benefit from Zoetis’ additional investment in R&D and global commercial capabilities to stay focused on achieving R&D milestones and growth.”
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