Infectious disease diagnostics firm SSI Diagnostica Group said on Thursday that it has acquired Florida-based breath testing firm Gulf Coast Scientific for an undisclosed sum.
Gulf Coast Scientific is a developer of urea breath tests for Helicobacter pylori infection, which is associated with conditions including chronic gastritis and gastric cancer. SSID Group said that the acquired assets will be complementary to its gastric health portfolio and will let SSI offer a broader range of specialized products to US reference and hospital labs.
Financial and other terms of the deal were not disclosed.
Denmark-based SSID Group is a developer of infectious disease tests and antisera as well as reagents for gastric, respiratory, and blood-borne diseases and has facilities in California and Virginia. With the Gulf Coast Scientific acquisition, the company expects to generate revenues of DKK 850 million ($129.5 million) and deliver market-beating growth.
Nachum Shamir, SSID Group’s chair of the board of directors, said in a statement that the acquisition demonstrates a commitment to investing into and building the company.
“Our goal for the next few years is to rapidly grow SSID Group organically and through acquisitions,” Shamir said. “The USA is a key market, and we are excited to strengthen our position further with additional synergistic quality products in a new technological area.”
SSID Group CEO Christina Lindved added that customers in the US prefer to use a combination of rapid antigen-based screening and urea breath testing for H. pylori to provide testing for patients with differing sampling needs, and the acquisition allows the company to meet customer needs and serve more patients.
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