Medix Biochemica Expands by Acquiring CANDOR Bioscience
Deal News | Jan 22, 2025 | DevCo Partners Oy
Medix Biochemica, a notable figure in the in vitro diagnostics (IVD) industry, announced its acquisition of CANDOR Bioscience GmbH based in Germany, marking a strategic expansion of its portfolio in critical raw materials necessary for IVD. Medix, supported by its largest shareholder DevCo Partners, aims to broaden its expertise and offerings in the realm of premium immunoassay solutions by integrating CANDOR's well-regarded portfolio of blockers and stabilizers into its operations. This deal will see CANDOR continuing its business from Wangen im Allgäu, Germany. Founded in 2004 by Dr. Tobias Polifke and Dr. Peter Rauch, CANDOR has developed a reputation for delivering high-quality solutions enhancing immunoassay development efficiency and consistency. The founders highlight the synergy between CANDOR’s solutions and Medix’s product offerings, which will facilitate the support of evolving needs within the IVD sector. The transaction aligns with Medix's ambition to become the leading raw material partner for the IVD industry, advancing its global outreach and solidifying a collaboration that enhances diagnostic capabilities worldwide.
Sectors
- Medical Device
- Biotechnology
Geography
- Finland – Medix Biochemica, the acquiring company, is based in Espoo, Finland.
- Germany – CANDOR Bioscience, the acquisition target, is headquartered in Wangen im Allgäu, Germany.
Industry
- Medical Device – The article revolves around companies providing critical raw materials and solutions for the in vitro diagnostics (IVD) industry.
- Biotechnology – Both Medix Biochemica and CANDOR Bioscience are involved in biotechnology, specifically in the development of materials and solutions vital for diagnostic processes.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Medix Biochemica | Acquiring Company | Company | A global leader in the supply of critical raw materials for the IVD industry, committed to supporting test manufacturers worldwide. |
| CANDOR Bioscience GmbH | Target Company | Company | A German provider known for its high-quality immunoassay solutions, including stabilizers and blockers. |
| DevCo Partners Oy | Private Equity Firm | Company | Main owner of Medix Biochemica, specializing in developing world-leading companies in niche markets. |
| Steve Ferguson | CEO of Medix Biochemica | Person | CEO of Medix Biochemica, responsible for overseeing the acquisition and integration process. |
| Dr. Tobias Polifke | Co-founder and Managing Director | Person | Co-founder and Managing Director of CANDOR Bioscience, involved in strategic decision-making. |
| Dr. Peter Rauch | Co-founder and Managing Director | Person | Co-founder and Managing Director of CANDOR Bioscience, engaged in overseeing the company’s operations. |