Medix Biochemica broadens product portfolio and further expands U.S. presence through acquisition of EastCoast Bio
- Medix Biochemica has acquired the business of US-based EastCoast Bio (“ECB”), a provider of high-quality antigens, antibodies and blocking buffers for the in vitro Diagnostics (IVD) manufacturing industry worldwide
- As a result of the acquisition, the complementary bioreagent portfolios of Medix Biochemica and ECB will be available to the global IVD customer base from a comprehensive global sales network
- The acquisition is in line with Medix Biochemica’s strategy to consolidate the IVD supply chain and become the #1 supplier of critical raw materials to the IVD industry
- ECB’s founder and CFO Clark L McDermith and President Pamela F Williams will continue in key roles with Medix Biochemica’s Immunodiagnostic Reagents Business Unit following the transaction
Medix Biochemica has acquired the business of EastCoast Bio, a provider of high-quality antigens, antibodies and blocking buffers for the In Vitro Diagnostic (IVD) manufacturing industry worldwide. The acquisition broadens Medix Biochemica’s antibody and antigen offering in several diagnostic areas, including Drugs of Abuse, Infectious Disease and Veterinary testing. Furthermore, the addition of the ECB team further strengthens the commercial presence of Medix Biochemica in North America, while ECB will benefit from Medix Biochemica’s strong local commercial presence in Europe and China.
As a result of the transaction, the organization and operations of ECB will be merged with Medix Biochemica’s Immunodiagnostic Reagents Business Unit. ECB’s founder and CFO Clark L McDermith and President Pamela F Williams will continue with Medix Biochemica’s Immunodiagnostic Reagents Business Unit in key roles.
Founded in 1995 by Clark L McDermith, ECB is a supplier of high-quality antigens, antibodies, blocking buffers, and specialized immunoassay reagents for the IVD manufacturing industry worldwide. The company is particularly well known for its leading portfolio of Drugs of Abuse, Infectious Disease and Veterinary antibodies and antigens as well as for its Fish Blocking products. ECB is headquartered in North Berwick, Maine.
“We are excited about entering into this partnership with ECB which – under the leadership of Clark and Pam – has developed a broad product portfolio, built a highly competent team and achieved excellent financial results” says Steve Ferguson, CEO of Medix Biochemica. “The acquisition demonstrates Medix Biochemica’s strategy to consolidate the IVD supply chain and enhance supply chain visibility for our customers. Our aim is to become the #1 supplier of critical raw materials for IVD test manufacturers. This move broadens our high-quality product portfolio of IVD raw materials and expands our capability into Drugs of Abuse and Infectious Disease testing. On top of this, ECB further strengthens our local presence in the strategically important U.S. market, building on our recent acquisition of Lee Biosolutions, Inc. in the country”.
“ECB has consistently grown year on year and coming together with Medix Biochemica who are recognized as pioneers in monoclonal antibodies with significant product capability and distribution in Europe and China, is good for our business, good for our staff and above all, great for our customers”, says Clark L McDermith, founder and CFO of ECB.
For more information:
Steve Ferguson, CEO of Medix Biochemica
Tel +44 7825 303680
Pamela F Williams, President of ECB
Tel +1 207 676 7639
Medix Biochemica is a global biotechnology company that develops, produces and markets monoclonal antibodies, antibody services and antigens for IVD industry, as well as diagnostic rapid tests for human healthcare worldwide. Medix Biochemica was founded in 1985 and is headquartered in Espoo, Finland. Today Medix Biochemica consists of three distinct Business Units – Immunodiagnostic Reagents BU; IVD Biomaterials BU and Diagnostic Tests BU. Immunodiagnostic Reagents BU focuses on developing high-quality monoclonal antibodies and antigens for the IVD industry and is based in Espoo, Finland. There are clear synergies with the IVD Biomaterials BU in St Louis, USA (formerly Lee Biosolutions) which develops native antigens, proteins, enzymes & other critical raw materials for use in calibrators and controls for the IVD industry. The Diagnostic Tests Business Unit produces a range of point-of-care tests which are manufactured at the Medix Biochemica site in Joensuu, Finland.
Medix Biochemica employs around 170 professionals worldwide. Since 1985, Medix Biochemica products have been used to provide an estimated 18 billion IVD tests to enable better diagnostic outcomes across the world. www.medixbiochemica.com