Chembio Diagnostic Systems
Chembio Diagnostics, Inc develops, manufactures, licenses and markets proprietary rapid diagnostic.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor | €0.0 | round |
| investor | €0.0 | round | |
| investor | €0.0 | round | |
| investor | €0.0 | round | |
| N/A | €0.0 | round | |
| investor | €0.0 | round | |
* | $17.2m Valuation: $17.2m 0.3x EV/Revenue -1.0x EV/EBITDA | Acquisition | |
| Total Funding | 000k | ||
| USD | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | - | 44 % | (2 %) | (10 %) | 21 % | 31 % |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % EBITDA margin | (21 %) | (19 %) | (34 %) | (67 %) | (57 %) | (37 %) |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | (27 %) | (23 %) | (40 %) | (84 %) | (92 %) | (48 %) |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| R&D % of revenue | 36 % | 25 % | 25 % | 31 % | 34 % | 15 % |
Source: Company filings or news article
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Chembio Diagnostic Systems was founded in 1986, with a mission to develop and manufacture rapid diagnostic tests for infectious diseases. The company was co-founded by Javan Esfandiari, who played a pivotal role in the development of Chembio’s patented Dual Path Platform (DPP®) Technology. This technology became a cornerstone for the company's product offerings, enabling quick and accurate testing for diseases such as HIV and Tuberculosis.
Over the years, Chembio expanded its reach and capabilities, securing multiple funding rounds to support its growth and innovation. The company focused on creating point-of-care diagnostic solutions that could be deployed in various settings, from hospitals to remote clinics, making healthcare more accessible and efficient.
A significant milestone in Chembio's journey occurred in 2023 when it was acquired by Biosynex, a move that allowed Chembio to operate as a wholly owned subsidiary. This acquisition was a strategic step to enhance Chembio's global presence and leverage Biosynex's resources to further its mission of providing reliable diagnostic solutions worldwide.
Today, Chembio continues to be a leader in the diagnostic industry, driven by a commitment to innovation and improving public health outcomes. The company's journey reflects its dedication to advancing medical technology and making a positive impact on global health.