Medix Biochemica announced the acquisition of Lee Biosolutions.

Medix Biochemica, a Helsinki, Finland-based biotechnology company, announced that it completed the acquisition of Lee Biosolutions, a leading provider of a large variety of high-quality biomaterials for the in vitro diagnostics industry.

The deal has the financial terms undisclosed.

President and COO of Lee Biosolutions, Matthew Lee, heads its operations and reports to the CEO of Medix Biochemica. CEO and Chairman of the Board of Lee Biosolutions, Burton Lee, will continue as Senior Advisor over a transition period and has become a shareholder in Medix Biochemica as part of the transaction.

Following the transaction, Lee Biosolutions forms a Center of Excellence focused on biomaterials for the IVD industry within Medix Biochemica’s group structure.

Medix Biochemica, led by chairman Ann-Christine Sundell, is a leading manufacturer of bioreagents for the global IVD industry. In addition, it offers diagnostic tests specifically designed for the women’s health sector.