London, UK – February 3, 2021 – 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 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.
Jo Wetz, Element CEO, said: “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.”
Mark Harvill, Avomeen CEO, commented: “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.”
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.
About Element
The Element Materials Technology Group is one of the world’s leading global providers of testing, inspection and certification services for a diverse range of materials, products and technologies in advanced industrial supply chains where failure is not an option. Headquartered in London, UK, Element’s team of more than 6,000 expert scientists, engineers and technicians operate from around 200 locations across five continents, delivering an extensive range of solutions to customers in critical industries including connected technologies, life sciences, digital engineering, aerospace, construction, defense, energy, environmental, and transportation.
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“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. ”
Jo Wetz
CEO