Posted in | Business

Element Further Scales its Life Sciences Business with Major Pharmaceutical Acquisition

Element Materials Technology (Element) has acquired a leading pharmaceutical analytical testing company, Avomeen, significantly strengthening the Group’s Life Sciences business unit in North America.

Avomeen is a leader in analytical testing services for key life sciences end markets, with a specific focus on pharmaceutical testing, biotechnology and FDA regulated consumer products. The company’s 80-strong team of scientists and experts bring with them a high level of technical expertise, with almost all holding bachelor’s and master’s degrees, and 20% holding PhDs.  Avomeen will deepen Element’s bench strength and technical breadth across a wide range of scientific disciplines, bolstering its offering in formulation chemistry, product manufacturing, extractables & leachables, and large molecule testing – all key strategic growth areas. 

Avomeen operates out of a single, well-invested facility in Ann Arbor, Michigan. The company is FDA registered, DEA licensed, and ISO accredited, all providing a comprehensive extension to Element’s existing range of services, and supporting its strategy to become a full-service solutions provider in the life sciences market. 

Although many global end-markets were impacted by Covid-19, Avomeen achieved a record revenue growth of 23% in 2020. Avomeen has also been actively involved in efforts to combat the pandemic, leveraging its capabilities to support companies who develop virus diagnostics and therapies, as well as manufacturers of products such as hand sanitizer. 

This is our third acquisition of 2021 and helps to build Element’s growing position in the life sciences sector, expanding our presence in the American pharmaceutical market. As we move into 2021, almost 20% of Element’s revenues are now within the broader life sciences segment covering pharmaceutical, medical device, food, and environmental testing services. Avomeen’s service offerings and recent entry into new end markets complement Element’s current pharmaceutical services and clients, and the team’s deep technical knowledge and additional capacity provide us with a significant step-up in scale across the US. Our acquisition of ALG in 2020 and now Avomeen, is quickly positioning Element as a full-service solutions provider within life sciences.

Jo Wetz, CEO, Element

We are thrilled to be joining the Element global family and combining our complementary capabilities to offer an even wider array of services and value to our clients.  Element’s focus on scientific excellence and quality, coupled with its partnership with clients and employees, aligns well with Avomeen’s values and what we will collectively continue to do as one company.

Mark Harvill, CEO, Avomeen 

Element’s existing network of life sciences laboratories offers a broad spectrum of testing services to the pharmaceutical, medical device, and food segments and boasts a proud track record of high-level scientific expertise which positions us at the forefront of the industry. Our facilities provide specialist testing services, including chemical and physical characterization; formulation development; storage stability, extractable and leachable studies; virology and virus identification; cell banking; antimicrobial and microbial testing; elemental impurity testing on a wide range of drug, nutraceutical, medical device, and consumer products; cytotoxicity, bioburden, endotoxin, and TOC testing; pathogen identification; bacterial analysis and nutritional chemistry. 
 

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Element Materials Technology. (2021, February 04). Element Further Scales its Life Sciences Business with Major Pharmaceutical Acquisition. AZoM. Retrieved on April 17, 2021 from https://www.azom.com/news.aspx?newsID=55482.

  • MLA

    Element Materials Technology. "Element Further Scales its Life Sciences Business with Major Pharmaceutical Acquisition". AZoM. 17 April 2021. <https://www.azom.com/news.aspx?newsID=55482>.

  • Chicago

    Element Materials Technology. "Element Further Scales its Life Sciences Business with Major Pharmaceutical Acquisition". AZoM. https://www.azom.com/news.aspx?newsID=55482. (accessed April 17, 2021).

  • Harvard

    Element Materials Technology. 2021. Element Further Scales its Life Sciences Business with Major Pharmaceutical Acquisition. AZoM, viewed 17 April 2021, https://www.azom.com/news.aspx?newsID=55482.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Submit