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Eurofins Scientific

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Eurofins Scientific SE
Company typePublic (Societas Europaea)
IndustryTesting and Laboratory analysis
Founded1987; 37 years ago (1987)[1]
FounderGilles Martin[1]
HeadquartersLuxembourg City, Luxembourg
Key people
Gilles Martin
(chairman & CEO)
Revenue€6.515 billion (2023)[2]
529,900,000 Euro (2023) Edit this on Wikidata
310,200,000 Euro (2023) Edit this on Wikidata
Number of employees
62,000 (2023)[3]
Websitewww.eurofins.com

Eurofins Scientific SE is a French group of laboratories headquartered in Luxembourg, providing testing and support services to the pharmaceutical, food, environmental, agriscience and consumer products industries[1][4] and to governments.

Eurofins Group has an international network of over 900 laboratories in 62 countries and a portfolio of over 200,000 validated analytical methods for characterizing the safety, identity, purity, composition, authenticity and origin of products and biological substances.[5] Eurofins also provides clinical diagnostic testing services and in-vitro diagnostic products.

History

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Eurofins Scientific was founded in 1987 with 4 employees. Eurofins derived the "fins" of its name from the French version of SNIF-NMR: Fractionnement Isotopique Naturel Spécifique par Résonance Magnétique Nucléaire or FINS-RMN. During this start up period (1987 to 1997), the SNIF-NMR patent was registered.[6]

From 1997, Eurofins' strategy was to acquire state-of-the-art laboratories with unique technologies, scientific expertise and potential for global growth. As Eurofins' revenues reached €7 million, its IPO on the Paris Stock Exchange helped fund the organization's rapid geographic expansion. The network expanded to eight new countries and grew to include over 50 laboratory sites. Leading positions were built up in core markets (Food Testing, BioPharma Product Testing and Environment Testing) and key segments such as genomics and contaminant testing.[7][8][9][10][11][12][13][14][15]

In 2001, Eurofins developed Eurofins TAG, a system that uses genetic markers to trace meat products to individual animals to ensure consumer products are free of BSE.[16]

From 2002, Eurofins started developing its infrastructure. It structured its laboratories as independent, entrepreneur-led companies, which eventually achieved global leadership positions in several key areas.[17]

Eurofins completed close to 60 acquisitions in 2017 and close to 50 acquisitions in 2018, and became a €4 billion company.[17]

In September 2021, Eurofins announced that Eurofins Scientific would be included in the CAC 40 Index.[18][19]

Key developments

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On 1 July 2014, Eurofins purchased Viracor-IBT Laboratories from Ampersand Capital Partners for $255 million. The company is now known as Eurofins Viracor.[20][21]

In May 2015, Eurofins acquired QC Laboratories in the USA and Experchems in Canada as part of its North American expansion strategy.[22]

In June 2015, Eurofins announced the acquisition of Biomnis in France for €220 million.[23] In September 2017, Eurofins Scientific acquired EAG Laboratories (Evans Analytical Group), a scientific services company that serves technology and life-science-related industries.[24] On 5 March 2018, the Pennsylvania Department of Environmental Protection announced to collect a $600,000 penalty from Eurofins QC, LLC (Eurofins QC in Montgomery County, Pennsylvania) for falsifying whole effluent toxicity test (WETT) results.[25]

Eurofins purchased Nanolab Technologies Inc, a service laboratory for the Silicon Valley industry, on 2 August 2018.[26]

Eurofins acquired MET Labs on 11 January 2018, which enabled the network to have a Nationally Recognized Test Laboratory as established by OHSA.[27] At the end of 2018, a deal was finalized between Eurofins and the JSTI Group for the acquisition of TestAmerica Environmental Services, LLC, adding 24 laboratories and 40 service centers to the Eurofins environmental testing network.[28]

On 3 June 2019, Eurofins reported that some of its IT systems were infected with ransomware and many servers and systems were taken offline.[29] Eurofins paid the ransom after heavy disruption to their services. Court hearings were postponed as the forensics division was unable to take new samples.[30]

Eurofins acquired Japanese genetics analysis company GeneTech, a leader in the specialist field of non-invasive pre-natal testing in August 2020.[31]

In September 2020, Eurofins announced the acquisition of SunDream Group in Taiwan, which specialises in environmental analyses. The acquisition allowed Eurofins to become the leading player in the environmental analyst market in the country.[32]

In February 2021, Eurofins acquired Beacon Discovery, a California-based company specialising in drug research. The group focuses on “G protein coupled receptors,” a major class of proteins in human cells, on which many molecules can act.[33]

Eurofins announced the acquisition of the American DNA Diagnostics Centers (DDC), a group specializing in genetic testing, in June 2021.[34]

In September 2022, Eurofins launched Eurofins Sustainability Solutions.[35]

In August 2024, Eurofins acquired Orchid Cellmark[36] a UK based DNA and forensic testing company.

In September 2024, Eurofins acquired Infinity Laboratories, Inc., based in Castle Rock, Colorado. This increased Eurofins' biopharmaceutical and medical device network in the USA. [37]

On October 28, 2024, the French Eurofins buys the clinical analysis division of Synlab in Spain |url=https://www.eleconomista.es/salud/noticias/13054858/10/24/la-francesa-eurofins-compra-la-division-de-analisis-clinicos-de-synlab-en-espana.html}}</ref>

Product authentication

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The company has developed an exclusive method of food analysis, testing and authentication that has thwarted the counterfeiting of food goods, and also cigars.[1][38] The company's testing can also detect food contaminants.[1]

See also

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References

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  1. ^ a b c d e (in French) Le réseau, botte secrète d'Eurofins, L'Usine nouvelle n° 2965, 26 May 2005
  2. ^ https://cdnmedia.eurofins.com/corporate-eurofins/media/44308941/eurofins-scientific-2023-annual-report.pdf [bare URL PDF]
  3. ^ https://cdnmedia.eurofins.com/corporate-eurofins/media/44308941/eurofins-scientific-2023-annual-report.pdf. {{cite web}}: Missing or empty |title= (help)
  4. ^ (in German) Eurofins. Der Testsieger. Warum der Labormulti von Skandalen in aller Welt und neuen EU-Verordnungen profitiert Archived 2018-06-22 at the Wayback Machine, Focus, 15 October 2008
  5. ^ "Reports and Presentations" (PDF). 1 March 2023.
  6. ^ Funding Universe. Eurofins Scientific S.A. History. Fundinguniverse.com. Retrieved 29 November 2021.
  7. ^ Food navigator. EU traceability technology applied to meat industry. Foodnavigator.com. 23 May 2004. Retrieved 29 November 2021.
  8. ^ Les Echos. Eurofins Scientific a renoué avec les bénéfices au cours du deuxième trimestre. LesEchos.fr. 29 August 2002. Retrieved 28 November 2021.
  9. ^ Food navigator. Test determines presence of avian flu virus in foods. Foodnavigator.com. 13 December 2005. Retrieved 29 November 2021.
  10. ^ Genetic Engineering and Biotechnology News. Eurofins Tackles Horsemeat Scandal. https://www.genengnews.com/. 13 February 2013. Retrieved 30 November 2021.
  11. ^ "EUROFINS SCIENT. : Eurofins celebrates 25 years of laboratory excellence and 15 years of value creation since its IPO | MarketScreener". 8 November 2012.
  12. ^ "Eurofins to Bolster Discovery Pharmacology with Villapharma Acquisition". 30 December 2016.
  13. ^ "Eurofins to Acquire ViraCor-IBT Laboratories". 13 May 2014.
  14. ^ "Eurofins Exceeds Its Recently-Upgraded 2017 Objectives on a Strong Growth Momentum and Raises Its Objectives for 2018". Bloomberg.com. 6 March 2018.
  15. ^ "Eurofins to slow pace of M&A, expand in emerging markets". Reuters. 8 July 2019.
  16. ^ "Testing for Traceability of Meat From Farm to Fork Down to Individual Animals". Eurofins Scientific.
  17. ^ a b "History of Eurofins Scientific". Eurofins Scientific.
  18. ^ "Eurofins will be included in the CAC 40 Index from September 17". Eurofins Scientific.
  19. ^ "Eurofins Will Be Included in the CAC 40 Index From September 17". Bloomberg. 10 September 2021. Retrieved 2023-03-20.
  20. ^ Ampersand Capital Partners. "Ampersand Sells ViraCor-IBT To Eurofins For $255 Million". PR Newswire (Press release). Retrieved 8 November 2017.
  21. ^ "eurofins-viracor.com". Eurofins Viracor. 20 February 2023. Retrieved 20 February 2023.
  22. ^ Joe Whitworth (7 May 2015). "Eurofins acquired US and Canadian firms to push into Americas market". FoodQualityNews.com. Retrieved 8 May 2015.
  23. ^ "Eurofins to acquire the Biomnis Group".
  24. ^ "Eurofins Scientific to Acquire EAG Labs". pharmtech.com. PTSM: Pharmaceutical Technology Sourcing and Management-10-04-2017. 12 (10). 22 September 2017. Retrieved 28 September 2017.
  25. ^ Pennsylvania Pressroom, Official News for Pennsylvania State Agencies. "DEP Sanctions Eurofins QC Lab for Water Testing Violations". www.media.pa.gov. Retrieved 12 March 2018.
  26. ^ "Eurofins to expand new Materials and Engineering Science verticals with the acquisition of Nanolab Technologies, cementing presence in high-tech industries". Eurofins Scientific. Retrieved 8 August 2018.
  27. ^ "MET Labs NRTL recognition". OHSA. Retrieved 1 March 2019.
  28. ^ "Eurofins Acquires TestAmerica". ENVSTD. 4 December 2018. Retrieved 14 July 2020.
  29. ^ "Eurofins Genomics live updates". Retrieved 4 June 2019.
  30. ^ Danny Shaw: Eurofins Scientific: Forensic services firm paid ransom after cyber-attack, BBC
  31. ^ "French group Eurofins signs deal to buy Japanese company GeneTech". Reuters. 2020-08-07. Retrieved 2021-12-02.
  32. ^ "Eurofins se renforce en Asie-Pacifique avec une acquisition à Taïwan". LEFIGARO (in French). 2020-09-04. Retrieved 2021-12-02.
  33. ^ "Pharmacie: Eurofins rachète un spécialiste de la découverte de médicaments". LEFIGARO (in French). 2021-02-18. Retrieved 2021-12-02.
  34. ^ "Eurofins va acquérir le spécialiste des tests génétiques DNA Diagnostic Centers". fr.advfn.com. Retrieved 2021-12-02.
  35. ^ "Sustainability Solutions for your company". sustainabilityservices.eurofins.com. 27 February 2023.
  36. ^ "New ownership for Cellmark". Cellmark.co.uk.
  37. ^ "The Eurofins Network Expands Its BioPharma Product Testing Offering in the United States With the Acquisition of Infinity Laboratories, Inc". Yahoo.com.
  38. ^ (in French) Eurofins trace son chemin en traquant les tricheurs, L'Usine nouvelle n° 2713, 9 December 1999
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