ARCHIMED Diagnostics, the diagnostics arm of healthcare investment firm ARCHIMED, has finalized its acquisition of ARK Diagnostics, a Fremont, California-based leader in specialty immunoassay in vitro diagnostics, from South Korea’s Soulbrain Holdings. The deal values ARK at $428 million, with ARCHIMED acquiring a 60% stake through its MED Platform II fund, while Soulbrain retains 40% and reinvests alongside ARCHIMED.
Founded in 2003, ARK develops and manufactures high-sensitivity diagnostic assays for therapeutic drug monitoring and drug-of-abuse testing across human and veterinary markets. The company’s proprietary Enzyme-Multiplied Immunoassay Technique (EMIT) provides fast, automated, and highly accurate diagnostics across more than 30 countries.
The acquisition aligns with ARCHIMED’s strategy to scale category leaders in Specialty Immunoassays. Through the MedDiscover platform, ARCHIMED identified ARK as a high-potential global innovator, having previously collaborated with the company through EUROlyser, a former ARCHIMED portfolio company.
The deal also includes a joint venture agreement between ARCHIMED and Soulbrain to expand ARK’s technologies, products, and global reach. ARK will be supported by MedTalents, ARCHIMED’s network of senior healthcare executives, including Douglas Bryant (QuidelOrtho) and Roland Diggelmann (Roche Diagnostics).
KEY QUOTE:
“Combining forces with Soulbrain and working with existing management is a recipe for super-charging ARK’s impressive growth. All of us — ARK, Soulbrain, and ARCHIMED — are very comfortable working together after EUROlyser’s success.”
Vincent Guillaumot, Managing Partner, ARCHIMED
