Swiss Medical Group (SMG) has acquire Switzerland-based CoreMedica Europe, a provider of blood tests and screening services for Covid-19, for an undisclosed sum.
As part of the deal, SMG took over the target’s operations in Geneva, its team, associated patents and intellectual property, among other things.
The buyer also negotiated an exclusive distribution agreement in North America with CoreMedica Laboratories.
Headquartered in Geneva, CoreMedica provides patients with a home-self collection kit that allows them to test for Covid-19.
By collecting a few drops of blood, the target’s laboratory can screen the severe acute respiratory CoV2 antibody and assess any previous infection to the disease, while clarifying a person’s general immunity.
The group also analyses a set of five biomarkers known to support the immune system, including vitamin D, zinc and magnesium, to help patients build up their natural resistance against the effects of another viral transmission.
SMG plans to integrate CoreMedica’s services into a network of anti-aging clinics, which are currently being developed by the acquiror in Europe.
As a result, the target will help improve P4 models in the anti-aging and foster preventative care areas and reduce the cost of treatments.
SMG has already begun testing the market with clinics in France, Italy and Greece and plans to roll out 52 age-management facilities by 2025, either through organic growth or acquisitions of well-known practices.
The deal with CoreMedica will represent another addition to the buyer’s portfolio, which already includes Starks Age Management.
Based in Milan, the latter offers anti-aging products and services, such as mesotherapy to improve hair health and encourage regrowth.
According to Zephyr, the M&A database published by Bureau van Dijk, there have been 1,164 deals targeting companies which provide research and development in the physical, engineering and life sciences industries announced globally in 2020 to date.
In the largest of these, blank check company Kensington Capital Acquisition agreed to acquire QuantumScape for USD 3.30 billion.
© Zephus Ltd