|Type||Public (OMX: BIOBV.B)|
|Key people||Osmo Suovaniemi (Founder and Chairman of the Board), Semi Korpela (President and CEO)|
|Products||liquid handling equipment|
|Total equity||€23.9 million (2010)|
Biohit was established in 1988 in Finland by Professor Osmo Suovaniemi (M.D., Ph.D.), previously known as the founder of Labsystems. He stepped down from the CEO position in June 2011, but remains actively involved with the company through positions on several advisory boards. Mr Semi Korpela was appointed CEO in 2011.
Biohit'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 Biohit's sales occur in Europe, the rest are spread evenly around the world.
The company's primary business is in liquid handling, in which they are one of the global market leaders. In this market, Biohit 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.
Biohit focuses on diagnostic business evolves around 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.
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 drug intended to bind/deactivate acetaldehyde in the GI tract and thus reduce the risk of developing gastrointestinal cancer.
Research, Development, and Intellectual Property
- Harriet Öster (8.10.1998). "Labsystems kasvaa suuren suojassa". Tekniikka & Talous. Retrieved 15.11.2009.
- Osmo Suovaniemi, Helena Hentola (2004). "Aggressive Innovation and Patenting Strategy – the Way to Success and National Well-Being". Biohit.
- Biohit Oyj. Annual Report 2010
- Anneli Hertsi (27.02.2013). "Biohit tappiolla loppuvuonna". Kauppalehti.
- Reuters. Overview of Biomet Oyj. http://www.reuters.com/finance/stocks/companyProfile?rpc=66&symbol=BIOBV.HE