| Type | Public (OMX: BIOBV.B) |
|---|---|
| Industry | Medical equipment |
| Founder(s) | Osmo Suovaniemi |
| Headquarters | Helsinki, Finland |
| Area served | Worldwide |
| Key people | Osmo Suovaniemi (Founder and Chairman of the Board), Jussi Heiniö (President and CEO) |
| Products | liquid handling equipment |
| Total equity | €23.9 million (2010) |
Biohit Oyj is a Finnish company which develops, manufactures, and markets liquid handling products for use in research and health care.
Contents |
Biomet was been established in 1988 in Finland by Professor Osmo Suovaniemi (M.D., Ph.D.). He stepped down from the CEO position in June 2011, but remains actively involved with the company through positions on several advisory boards. Professor Suovaniemi was replaced as CEO by the former VP of Administration and Legal Affairs, Jussi Heiniö.[1]
Biomet's two businesses are liquid handling and diagnostics. Almost 95% of sales come from liquid handling, but much a lot of their research and marketing efforts focus on their diagnostics business. More than half of Biomet's sales occur in Europe, the rest are spread evenly around the world.[1]
The company's primary business is in liquid handling, in which they are one of the global market leaders. In this market, Biomet offers several lines of mechanical and electronic pipettes, pipette tips, as well as maintenance services (for the electronic pipettes). They estimate that worldwide, the pipette market is worth EUR 500 million (in sales). They expect that in the coming years, the mechanical pipette market to grow at 5% annually and the electronic pipette market to grow at 10% annually.[1]
Biohit's also has a small diagnostic business which focuses on products and technologies for the diagnosis, screening. and prevention of diseases of the gastrointestinal tract. The product range includes GastroPanel examinations which are performed on a blood sample and used to diagnose diseases of the stomach and the risks associated with these diseases.[1]
Other products include tests for lactose intolerance; Helicobacter pylori infection; fecal occult blood, a well-known marker for colorectal cancer; instruments for analyzing test results; and Acetium, an over-the-counter intended to bind/deactivate acetaldehyde in the GI tract and thus reduce the risk of developing gastrointestinal caner.[1]. [1]
Biohit spends roughly €2.5 million on basic research each year and pursues an aggressive patenting strategy. [2]
A network of 200 distributors, including 9 subsidiaries, in 70 countries is selling Biohit products.[1]