Boule signs an agreement for local instrument manufacturing in India

Boule Diagnostics has signed a licensing agreement with Q-Line Biotech for local instrument manufacturing in Uttar Pradesh, India. India is an important market with a projection of over 20,000 hematology systems to be sold each year for the next coming years. The decision to set up local instrument production in India, in addition to the reagent production facility already under way, is based on that local production provides direct advantages in public procurement, shorter lead times, reduced transportation costs and a reduced environmental impact from transportation.

“We are very happy to partner with Q-Line Biotech. We have worked together for many years, and as previously communicated we are already building a reagent manufacturing plant together in Lucknow.  We feel safe in the knowledge that Q-Line has the technical expertise required for the new agreement for license production of instruments as they are already producing complex medical products. It is a company that is respected in India and I’m very optimistic about continuing to expand our cooperation with them on this strategically important project,” says CEO and Group President, Jesper Söderqvist.

"Boule Diagnostics, Sweden, is one of the pioneers and world leaders in hematology solutions and have been instrumental over the years to build Q-Line into the company we are today. We are therefore excited to expand our collaboration with them. We are confident that this next project, under the Make in India initiative, will allow us to jointly bring more sustainable and affordable diagnostic solutions to this growing and cost-conscious Indian market,” says Saurabh Garg, Chairman Q-Line Biotech.

For more information, please contact:
Jesper Söderqvist, CEO and Group President, Boule Diagnostics AB, phone +46 (0)70-689 05 90
Jan Benjaminson, CFO, Boule Diagnostics AB, phone +46 (0)70-666 93 88

About Boule Diagnostics AB (publ)
Boule Diagnostics AB (publ) is a global diagnostics company specializing in near-patient, decentralized blood diagnostics and one of the few companies in the global diagnostics market that conducts its own development, manufacturing and marketing of instruments and consumables for blood diagnostics. The Company primarily serves hospitals, clinics, laboratories and other diagnostics companies to which it offers complete systems for blood diagnostics (hematology) in both the human and veterinary areas. Boule has strong positions in important emerging markets such as in Asia and in recent years has improved its position in the fast-growing veterinary market. Operations are conducted through operating subsidiaries in Sweden, the United States, Mexico and Russia. The Group reported net sales of SEK 548 million in 2022 and has more than 200 employees. Sales are conducted globally, predominantly through the company’s 200 or so distributors in over 100 countries, supported by Boule’s own local sales and service personnel. Boule has been listed on Nasdaq Stockholm since 2011. http://www.boule.com

The information was submitted for publication, through the agency of the contact person set out above, at 08:30 CEST on September 14, 2023.

Boule Diagnostics – Signs agreement for local instrument production in India