Bruker Corporation (Nasdaq: BRKR) is pleased to announce the closing of its acquisition of ELITechGroup (“ELITech”) for €870 million in cash, excluding the carved out ELITech clinical chemistry business. ELITech is a differentiated, fast growing and profitable provider of systems and assays for molecular diagnostics (MDx), biomedical systems/specialty IVD, and microbiology, with FY 2023 revenue of approximately EUR 150 million, and more than 80% consumables revenue.
“We are very pleased to welcome ELITech to Bruker,” said Frank H. Laukien, Bruker’s President and CEO. “The ELITech molecular diagnostics sample-to-answer platforms for viral infection and other esoteric MDx assays complement our MALDI Biotyper® platform for bacterial and fungal identification. The combined offerings establish Bruker as an innovative and growing infectious disease specialist in the in-vitro diagnostics (IVD) market.”
“Bruker’s portfolio is a perfect strategic fit for ELITech’s products,” said Dr. Christoph Gauer, the CEO of ELITech. “Both companies share a passion for innovation, and both have a history of bringing disruptive products to the IVD market. The ELITech team is very much looking forward to becoming part of the Bruker family.”
Going forward, ELITech will become the Bruker Molecular Diagnostics business within the Bruker Microbiology & Infection Diagnostics division of the Bruker CALID Group. For the remainder of 2024, Bruker expects the ELITech business to generate approximately $100 million of revenues within Bruker, with non-GAAP EBIT margins above 20%, and FY 2024 accretion of $0.08 – $0.10 to Bruker’s non-GAAP EPS, after acquisition financing costs.
