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  6. Biosynex Acquires Chembio Diagnostics

M&A Deal Summary

Biosynex Acquires Chembio Diagnostics

On January 31, 2023, Biosynex acquired medical products company Chembio Diagnostics for 17M USD

Acquisition Highlights
  • This is Biosynex’s 3rd transaction in the Medical Products sector.
  • This is Biosynex’s largest (disclosed) transaction.
  • This is Biosynex’s 1st transaction in the United States.
  • This is Biosynex’s 1st transaction in New York.

M&A Deal Summary
Date 2023-01-31
Target Chembio Diagnostics
Sector Medical Products
Buyer(s) Biosynex
Deal Type Merger
Deal Value 17M USD
Advisor(s) Craig-Hallum (Financial)
K&L Gates (Legal)

Target

Chembio Diagnostics

Hauppauge, New York, United States
Chembio Diagnostics is a developer, manufacturer and marketer of proprietary rapid diagnostic tests in the growing $8.0 billion point-of-care testing market. Chembio markets each of its DPP® HIV 1/2 Assay, HIV 1/2 STAT-PAK® Assay, and SURE CHECK® HIV 1/2 Assay, with these Chembio brand names, in the U.S. and internationally both directly and through third-party distributors. Chembio Diagnostics was incorporated in 1985 and is based in Hauppauge, New York.

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Buyer(S) 1

Buyer

Biosynex

Illkirch-Graffenstaden, France
Category Company
Founded 2005
Sector Life Science
Employees176
Revenue 27M EUR (2016)
DESCRIPTION

Biosynex is a designer and distribution of rapid diagnostic tests. Biosynex develops, manufactures and markets Medical Devices for Screening, Diagnostics, and Prevention in a permanent quest for excellence. Biosynex was founded in 2008 and is based in Illkirch-Graffenstaden, France.

DEAL STATS #
Overall 3 of 5
Sector: Medical Products M&A 3 of 4
Type: Merger M&A Deals 1 of 2
State: New York M&A 1 of 1
Country: United States M&A 1 of 2
Year: 2023 M&A 1 of 3
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-03 AVALUN

Grenoble, France

AVALUN is a manufacturer of medical devices. LabPad+ is a smartphone/tablet application that connects via Bluetooth to AVALUN’s LabPad devices. Once connected, LabPad+ allows performing a biological test by associating to the result all the useful traceability information concerning the test performed, the operator, the patient, and any contextual comments. AVALUN is based in Grenoble, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-13 ProciseDx

San Diego, California, United States

ProciseDx is a vitro diagnostics (IVD) company with a proprietary instrument platform and portfolio of Point of Care diagnostic tests, based in San Diego, California.

Buy -
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