Eurofins Scientific: Lab Network Structure & Scale

Former Chief Operating Officer, Spain at Eurofins Scientific

Why is this interview interesting?

  • Eurofins org structure and the role of Gilles Martin
  • Design of the lab network and relationship between specialized and routine labs
  • How a sample test flows through the network
  • What a customer like Nestlé really cares about when outsourcing testing
  • How tests are priced between biology and chemistry labs
  • Economies of scale for Eurofins versus other TIC players
  • Challenges for Eurofins to serve customers effectively at scale
  • How Eurofins could lose market share to competitors

Eurofins Scientific

Why is this company interesting?

Eurofins is a French-listed, owner-operated lab testing company that operates in the food, agriculture, environmental, and pharmaceutical industries. The company was founded in 1987 and has compounded at 30% for over 34 years to become one of the highest performing European listed equities over the last 30 years.

Eurofins is run by the founder Gilles Martin who still owns 25% of the business. Martin has made over 400 acquisitions since 1997 and opened 180 new labs. The company owns ~800 labs that offer 200,000 microbiology, chemistry, and other types of specialized testing to large corporate QA divisions to ensure product quality meets regulatory standards and customer demands.

Eurofins benefits from high lab density that reduces the test turnaround time and the wide range of tests available create sticky relationships with customers. Over 70% of the revenue ex-COVID benefits come from food, pharma, cosmetic, and environmental verticals but the potential growth opportunity lies in more specialised clinical diagnostic testing.


Executive Bio

Mike Meissner

Former Chief Operating Officer, Spain at Eurofins Scientific

Mike is the Former Chief Operating Officer for Spain at Eurofins Scientific where he was responsible for running and designing the laboratory network for the country. He acquired and integrated 3 lab businesses into the Eurofins network and restructured the logistics to improve the hub and spoke network. Prior to running Spain, Mike spent 2 years as Managing Director of Biology in Europe which was a horizontal function that was in charge of managing the biology routine labs close to the customer. Mike is a seasoned operations executive and prior to Eurofins spent 12 years at Ikea and cargo-partner, a full range logistics provider. Read more

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Interview Transcript

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Eurofins Scientific: Lab Network Structure & Scale(August 20, 2020)

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