Werfen Acquires Accriva Diagnostics for 380M$
January 1, 2017 12:00 PM - Barcelona
Werfen, a leading global company in the field of in vitro diagnostics, announces the acquisition of Accriva Diagnostics (Accriva) for 380 million dollars.
Accriva, based in San Diego, USA, is a leader in the development, production, and distribution of point-of-care (POC) diagnostics for coagulation. That is, tests at the patient's point-of-care, such as surgery operating rooms and critical care units.
These in vitro diagnostics help to improve the decision making regarding coagulation and platelet aggregation in a way that optimizes treatment outcomes and the overall cost of the hospital treatments.
Accriva's product portfolio has a strong strategic fit with the IVD business of Werfen, and it complements the recent acquisition of Tem, whose products help decide on the need for blood transfusion and the use of blood products. Accriva provides the most complete portfolio of diagnostic solutions in coagulation for critical care and operative procedures in order to drive efficiencies in the surgery operating room. In both cases, the results are reflected both in a better treatment of the patient and in the value chain of health care.
Accriva, like Tem, specializes in the meeting point of Coagulation and Critical Care lines where Werfen occupies a unique position in the world, leading both IVD specialties for the benefit of patients and health professionals.
"Acquiring Accriva follows our roadmap based on further strengthening our position in those areas where we are global leaders and undoubtedly it also contributes to the noble cause of improving the world we live in" says Jordi Rubiralta, President of Werfen, adding "now that we have just turned 50, this new acquisition is another example of our focus and commitment to the future”.
Accriva shows in 2016 revenues of 94M$ and employs 460 people, mainly in the USA. The relevant presence of Werfen in the USA, Europe, Asia-Pacific -especially in China, and emerging countries will enhance the growth of Accriva’s portfolio through the commercial structures of Werfen.
The transaction was funded by CaixaBank. Milbank, Tweed, Hadley & McCloy served as legal counsel and Lazard served as financial advisor to Werfen.