ARCHIMED Acquires 60% Interest in ARK Diagnostics (~13.9x EBITDA)
- Will Hamilton
- Oct 29, 2025
- 2 min read
Updated: 2 days ago
In October 2025, ARCHIMED Diagnostics, the diagnostics-focused arm of global healthcare investment firm ARCHIMED, completed its acquisition of a 60% majority stake in ARK Diagnostics, Inc., a Fremont, California-based developer and manufacturer of specialty in vitro diagnostic (IVD) assays and tests, from South Korean specialty chemical company Soulbrain Holdings. The transaction values ARK at approximately $428 million enterprise value, with Soulbrain retaining a 40% minority interest and reinvesting alongside ARCHIMED under a joint venture agreement. ARK specializes in Therapeutic Drug Monitoring (TDM) and Drugs of Abuse (DoA) testing across human and veterinary markets, leveraging its proprietary Enzyme-Multiplied Immunoassay Technique (EMIT) technology and a portfolio of over 30 proprietary assays sold in more than 30 countries.
The acquisition reinforces ARCHIMED’s strategic focus on specialty immunoassays and high-growth diagnostic segments within its broader diagnostics platform, identified through the firm’s MedDiscover and MedSeg investment frameworks. By partnering with incumbent management and leveraging Soulbrain’s ongoing involvement, ARCHIMED aims to accelerate ARK’s product development, global market expansion, and innovation pipeline while enhancing operational scale and cross-border reach. This deal represents ARCHIMED’s third diagnostics investment in 2025 and its ninth under its MED Platform II fund, underscoring continued private equity momentum in IVD diagnostics amid sustained clinical demand for rapid, high-accuracy testing solutions.
Diagnostic Tools EBITDA Multiples
According to a press release, the ARK generated Revenue and EBITDA of approximately KRW 81.63 billion ($57.2m) and KRW 42.95 billion ($30.8m), respectively, implying multiples of 7.5x revenue and 13.9x EBITDA.
Diagnostics and Life Sciences M&A Deal Volume
The number of announced diagnostics and life science deals appears to be on the upswing after a somewhat weak 2024. Deal volume is in the low 30s per quarter on 2024, which is just slightly below 2021 averages. Announced volumes dipped to an average of 29 per quarter in 2024. Diagnostic tools and life sciences have been the best performing subsectors, highlighting the broader positive trends in healthcare technology, while laboratories, equipment, and collection network M&A volumes have been weaker.
Other Diagnostics / Life Sciences Deals
Read Scope Research's take on other diagnostics and life sciences M&A transactions:
About Scope Research
The Scope Research Healthcare M&A Valuation Database currently has financial details related to 232 diagnostics and life sciences deals, segmented by type, including 102 deals with disclosed EBITDA multiples. The data can be purchased individually, while our affordable annual subscriptions provide access to all of our healthcare M&A databases and segments, updated continuously.
Don't hesitate to reach out to Will Hamilton at will@scoperesearch.co with questions about your specific situation.