According to Yole, the market size of microfluidic devices in 2017 will be approximately $2.5 billion, and is expected to grow to $5.8 billion by 2022, with a compound annual growth rate (CAGR) of 18% during this period. The rapid maturity of the microfluidic device industry has profoundly affected the entire supply chain and brought a large number of M&A transactions. According to Yole's report "Microfluidic Industry Status - 2017 Edition", since 2015, the total amount of M&A transactions in the microfluidic industry has exceeded $25 billion.
According to James Consulting, IDEX Health & Science's growth strategy has led to the acquisition of two microfluidic foundries in 2015 and 2017. Recently, Yole analysts had the opportunity to interview Jeff Urbany, Global Marketing Director of IDEX Health & Science. The following is an interview.
Microfluidic Supply Chain - Choose different models based on different shipments
Yole Développement (hereinafter referred to as YD): What is the strategic consideration for IDEX's acquisition of thinXXS?
Jeff Urbany (hereinafter referred to as JU): Prior to the acquisition of Cidra Precision Services (hereinafter referred to as CPS) in July 2015, the core business of IDEX Health & Science (hereinafter referred to as IH&S) has been focused solely on instrumentation for life science partners. Differentiated fluidics and optical core components and subsystems. The acquisition of CPS complements IH&S's product portfolio with consumable products. The acquisition of thinXXS expands our technical capabilities in high-precision molding, equipment reagents, and mass-scale manufacturing, and brings new markets for immediate care (POC) and veterinary medicine.
YD: How does thinXX fit into the overall strategy of IH&S?
JU: Add value to our customers' fixed equipment products and high value consumables associated with these equipment through a diverse business model.
YD: How do you plan to integrate the business of thinXXS into the existing organizational structure?
JU: ThinXXS will continue to operate as an independent organization under the leadership of Dr. Lutz Weber. ThinXXS will report directly to Joe Rytell, vice president and general manager of IVR&S's IVD/Bio (In Vitro Diagnostics and Biotechnology) business unit.
YD: Considering that most of the equipment experts and hardware are in Zweibrücken, Germany, do you plan to relocate and integrate with CPS in Connecticut? Or is this also convenient for you, using two operations centers to serve the European and North American markets separately?
JU: We found that CPS and thinXXS are highly complementary. We are not prepared to combine the two companies into one. Both teams are great, and we will focus on gaining strategic value in all regions through collaboration rather than geographic mergers.
YD: Do you need to develop similar operations in Asia, such as Japan or Singapore? Is the diagnostic consumables market in Asia slightly smaller or slightly lower than Europe and North America?
JU: At present, we can meet the demand for diagnostic consumables in Asia by using our new plants in Germany and the United States. In other words, we are fully committed to the market and will adopt appropriate operational strategies based on market demand.
What are the advantages of YD:thinXXS that CPS does not have? How do they complement each other?
JU: The business of ThinXXS and CPS is highly complementary, and their respective advantages complement the shortcomings of the other side. In our view, the synergy between the two parties after the merger is much larger than that of any independent party.
YD: What other advantages are there within IH&S that will complement the two new acquisitions?
JU: Typically, customers develop systems around microfluidic devices that require the necessary reagents to manage fluidics and optical systems to provide illumination and inspection. With the breadth of technology in the IH&S portfolio, we believe in providing additional value to our customers in the design and engineering of the entire platform.
YD: How does this relate to the IH&S program's Senior Center for Microfluidic Optics in Rochester (Rochester)?
JU: The new facility in Rochester will be a Center-of-Excellence focused on optical products. Fluidics products will continue to be designed and manufactured at existing plants in northern California, Connecticut, Washington, Massachusetts, and Japan.
M&A events of microfluidic device foundries since 2015
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