Trivitron buys Finnish firm Ani Labsystem for €15.8m

Tags: Companies
In the first-ever global acquisition by an Indian medical technology company, Trivitron Healthcare has picked up 100 per cent stake in Finland-based Ani Labsystem. Ani Labsystem, a leading company in the space of in vitro diagnostics, especially neonatal screening and cardiac biomarker screening, was acquired for €15.8 million.

Trivitron has acquired all the four group companies – Ani Biotech, Ani Labsystems, Biopoint and K3 and the new merged entity is named Labsystems Diagnostics OY. In three years’ time Trivitron plans to grow the €10 million group to a size of around €30 million.

Diagnostics kits of Ani Labsystems will continue to be manufactured in Finland, while the production of infectious diseases diagnostics and women's health products will be shifted to a new facility at Trivitron Medical Technology Park in Chennai. Trivitron plans to start production within two years after distributing the products in India and understanding the market.

With this acquisition, Trivitron will provide point of care diagnostics, immuno diagnostics and molecular diagnostics - the three fastest growing segments in vitro diagnostics. Ani Labsystem’s products come under immuno diagnostics and point of care diagnostics and the market for these segments together would be around $100 million in India.

“The factory based in India will enable Trivitron’s access to new infectious disease testing products for emerging markets and offer their customers new value oriented product lines in South Asia, South East Asia, West Asia and Africa,” said G S K Velu, founder and managing director of Trivitron Healthcare.

“With €15.8 million investment, the financial position of Ani Labsystems will be clearly strengthened. Ani Labsystems is the manufacturer of infectious disease laboratory diagnostics and neonatal screening since 30 years and Ani Biotech, producer of home and point-of-care tests for cardiac, fertility, gastroenterology and infectious disease biomarkers for 25 years” says Mika Saramaki, president of Ani Labsystems.

The strategic partnership will not change the existing respective distribution relationships. Ani Labsystems and Ani Biotech will continue to produce the highest quality products in the Helsinki Vantaa factory in Finland factory while Trivitron’s new facility in Chennai will focus on value products for emerging markets.

sangeethag@mydigitalfc.com

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