Zoetis Acquires Scandinavian Micro Biodevices for USD 80 million
Zoetis, the animal health company, has acquired Danish biotech company Scandinavian Micro Biodevices for USD 80 million (approximately DKK 533 million). Plesner assisted Zoetis with the transaction.
Zoetis Inc. has acquired Scandinavian Micro Biodevices ApS for the purpose of extending its pipeline of veterinary diagonistics products. Scandinavian Micro Biodevices is a world leader in developing and manufacturing so-called microfluidic cartridges for point-of-care diagnostics enabling veterinaries to analyse blood samples within a few minutes without having to send such samples to a laboratory.
Scandinavian Micro Biodevices has approximately 35 employees and its products are sold internationally. The acquisition of Scandinavian Micro Biodevices is to contribute to strengthening Zoetis' leading position in the fast-growing segment of point-of-care veterinary diagnostics.
Zoetis is a global company with approximately 9,000 employees and in 2015 it generated an annual revenue of USD 4.8 billion. Zoetis originates from the Pfizer group and became a standalone company in 2012.
Read more about the transaction in Zoetis' press release.