ARCHIMED Diagnostics has acquired a 60% stake in ARK Diagnostics, enhancing its portfolio in the specialty immunoassay diagnostics market with a total enterprise value of $428 million.

Target Information

ARCHIMED Diagnostics has successfully finalized its acquisition of ARK Diagnostics, a premier developer and manufacturer in the field of specialty immunoassay In Vitro Diagnostics. The transaction includes the purchase of 60% of ARK, which has established a footprint not just in the United States but globally. ARK is particularly renowned for its Therapeutic Drug Monitoring and Drugs of Abuse testing across both human and veterinary applications.

Founded in 2003, ARK Diagnostics was acquired by South Korean specialty chemical manufacturer Soulbrain Holdings in 2018. The company is distinguished by its innovative Enzyme-Multiplied Immunoassay Technique (EMIT), which allows for rapid, sensitive, and automated detection of various substances. With over 30 proprietary assays marketed in more than 30 countries, ARK plays a crucial role in diagnosing critical health conditions, including epilepsy, cancer, autoimmune disorders, and kidney diseases.

Industry Overview in South Korea

The diagnostics industry in South Korea is experiencing significant growth, driven by advancements in medical technology and an increasing focus on healthcare quality. The country is known for its robust healthcare system, which e