BUSINESS AREA

Labtech Business Area

The Labtech business area provides products, solutions and services in fields such as diagnostics, biomedical research and laboratory analysis. The business area consists of two business units: Biomedical and Research and Diagnostics. The most important customer groups are hospital laboratories, academic research and pharmaceutical companies, mainly in the Nordic region and increasingly in the rest of Europe.

The business area offers products and solutions, including instruments and equipment, consumables and reagents, used to diagnose diseases and conduct research. Labtech also provides training and technical service to facilitate effective use of the equipment. Approximately 80 percent of sales in 2024 originated from procurements and long-term contracts associated with installed instruments.
AddLife offers suppliers a strong commercial organisation with a local presence in 30 European countries. As a distributor, Labtech can swiftly adapt to market changes and offer tailored solutions to meet customer needs. New distribution agreements for innovative products have been established in multiple countries, and are expected to provide additional potential for future growth. Organic growth, excluding exchange rate fluctuations, totalled 3 percent for full-year 2024 and the acquired growth amounted to 2 percent.

 Market trend 2024
The sales of consumables have maintained a high level of stability in both diagnostics and research, and this was also the case in 2024. During the year, budget constraints in healthcare were observed in several Nordic countries, which are key markets for our diagnostics companies. This, combined with staff shortages, has in some cases led to delays in instrument sales. At the same time, targeted investments in new technologies are being made to enhance efficiency and improve healthcare quality.

Activity in the academic research segment was somewhat subdued. However, demand from pharmaceutical companies remained strong, resulting in an increasing share of sales directed toward pharmaceutical companies, while the proportion of sales to academic research declined.

Several of the global manufacturing companies are undergoing changes in both organisation and market strategy, presenting opportunities for the subsidiaries to adopt new products and increase their market shares. At the same time, the companies are working to add new products in the segments that have been defined as prioritised.

Within the Diagnostics business unit, the company has identified microbiology, molecular diagnostics and genetic testing as profitable growth segments. Within the Biomedical and Research business unit, AddLife has identified molecular biology and advanced instruments for laboratory analysis as growth segments. The common denominator for the prioritised segments is that while the subsidiaries already hold a solid position and possess considerable expertise in these segments, but today they constitute a smaller part of sales (5 percent or less). Additionally, they exhibit stronger growth compared to the broader market, with expected margins in most cases exceeding 12 percent. Consequently, an increased presence in these segments will improve both the growth potential and profitability of the Labtech business area.

Acquisition
BonsaiLab, a leading Spanish distributor in cell and molecular biology, was acquired in July. The acquisition expands AddLife's presence in this prioritized and fast-growing market segment, where AddLife's companies are already well established in the Nordic region and several other markets.

BIOMEDICA - ONE ENTRY POINT INTO EASTERN EUROPE

Within Biomedica, we have 280 employees, not only from our territories but from almost all continents, in the world. With different perspectives, ideas, and cultural backgrounds, we can support innovative ideas by picking up trends from all over the world. Furthermore, being part of AddLife and all the sister companies in the European field also contributes to our cultural diversity.

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 LABTECH’S PRODUCT SEGMENTS 

	BIOMEDICAL AND RESEARCH	DIAGNOSTICS
	Advanced instruments Plastic consumables General lab Cell Biology Reagents	Microbiology Molecular/genetics Clinical chemistry Immunology Haematology Cytology and pathology Point of Care