Cellink AB acquires Ginolis Oy for €70m
Cellink AB will take over all shares of Ginolis Oy, a Finnish company focusing on diagnostics automation and advanced robotics solutions for medical and diagnostic industries.
Under the agreement, Cellink AB is set to acquire all shares for a purchase price on cash- and debt-free basis of €70m. Forty per cent of the purchase price will be paid in newly issued shares, the remaining 60% will be paid in cash.
Ginolis offers modular robotics systems for manufacturing of multiplex assays and, lateral flow point-of-care (PoC) tests, including those for Covid-19 in the US and Europe. In addition, Ginolis offers automation of the production of consumables for medical devices. Under the contract, Ginolis will continue as a part of Cellink Industrial Solutions along with Scienion and Cellenion.
Cellink said that the acquisition will provide synergies within the field of microfluidics, diagnostics, and bioprinting as Ginolis’ Xanthia platform enables the manufacturing of microfluidic, multiplex assays, medical devices, and lateral flow IVD tests Ginolis’ robotics enables an effective scale-up of bioprinting systems of Cellink.
Ginolis’ revenue reached €18m in 2020 with an EBITDA margin of 12%.
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