Labtest Diagnóstica has been sold to Virtue Diagnostics
Founded in 1971, Labtest Diagnóstica is a pioneer and one of the largest in vitro diagnostic (IVD) solutions provider in Brazil, establishing itself as a reference in the biotechnology market and recognized nationally and internationally. Labtest develops, manufactures and sells IVD products from its 5,100m² best-in-class manufacturing facility in Minas Gerais with a portfolio comprising a wide range of reagents and equipments (more than 300) focused on offering solutions integrated with continuing education programs and permanent technical and scientific assistance for clinical laboratories, health care units and hospitals.
Labtest’s more than 230 employees will now be joined by Virtue Diagnostics, a global, fast growing platform-based IVD solutions provider with intensive research and development (R&D) and state-of-the-art IVD facilities. The acquisition follows Virtue’s strategy of expansion in emerging markets, establishing a leading platform in Brazil, and offering growth and expansion opportunities for Labtest, including an increase in production capacity, the possibility of reaching new markets in Brazil and internationally and the broadening of the product portfolio.
Luiz Recchia, Managing Director in Lincoln’s São Paulo office, commented, “This landmark transaction highlights Lincoln´s expertise in dealing with complex situations, including a diverse shareholder base, a foreign buyer and a changing healthcare market environment post-COVID-19. With Virtue, Labtest will have access to new products, new methodologies and an opportunity to consolidate its leadership in the Brazilian market even further.”
Founded in 2019, Virtue Diagnostics is a global, platform-based IVD solutions provider focusing on affordable clinical solutions at all disease stages including very early screening, initial diagnosis, treatment monitoring and minimal residual disease management. Virtue Diagnostics Corporate and R&D headquarters are in Singapore, manufacturing is in Suzhou, China and CRO / Clinical Lab is in Beijing.
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