Adavium Medical acquires two Brazilian clinical diagnostic companies

Adavium Medical, formerly known as ADVANCE Medical, recently acquired two of Brazil’s largest clinical diagnostic companies, Alka Tecnologia and Hemogram Industria e Comercio.

“We bring commercial sophistication and scale to one of the largest and most complex health care markets in the world,” Adavium Medical CEO Fred Aslan said. “We have spent the past several years evaluating and acquiring the best Brazilian companies that, together with our team and capabilities, would create the undisputed commercial and manufacturing leader. We are now the partner of choice for international companies with premium products."  

The recent acquisitions, which position Adavium as Brazil’s largest medical equipment and diagnostics company in terms of sales and customer base, are financed by recent investment funding of $21 million from CVF LLC and existing major investors like Venrock, Aberdare Ventures and Arboretum Ventures.

“We also develop and manufacture proprietary products that bring the benefits of high-end technologies to the very large, but often ignored, value segment of the Brazilian market that requires affordable products,” Aslan said. “As a result, a number of our product lines lead in market share.”

The company also named Claudia Golart, formerly of GE Healthcare in Latin America, as the new president and CEO of the diagnostics division.