Sweden's CELLINK is to acquire the Finland-based robotics and diagnostic automation company Ginolis for €70 million in a mix of cash and stock.
Founded in 2010 and headquartered in Oulu, Finland with a manufacturing site in Estonia as well as sales offices in China, the UK and the US, Ginolis offers a range of modular robotics systems for precise manufacturing of medical devices, multiplex assays and more.
The deal should help CELLING bolster its bio-printing systems and other product offerings to tap more pharma and biotech customers, and ultimately bring therapies and medical solutions to market faster.
More specifically, the addition of Ginolis’ '3D Metrology' system will help streamline and expedite the process to create working bio-printed tissue to be used for drug and cosmetic testing/development without the need to e.g. use animals, CELLINK said in a statement.
Ginolis booked €18 million in revenue in 2020, with an EBITDA margin of 12% and a roughly 90-person staff, according to the press release.
The company was backed by private equity firm VersoVentures, but it's unclear how much money it's raised since its inception.
"CELLINK’s core is our strong bioconvergence agenda and developing and commercializing cutting edge technologies. Ginolis’ ambition and product road map will enhance our position in the clinical field, which is well aligned with our long-term vision to create the future of medicine. To summarize: Ginolis will further be strengthening our strategic offering and contribute to our strong platform to become the leading bioconvergence company," said CELLINK CEO Erik Gatenholm.
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