Biohit’s first steps
In 1988, Suovaniemi established Biohit Oy, which began to develop the world’s first safe and ergonomically designed single and multichannel electronic pipettes. Biohit started up the injection moulding and assembly of pipettes in Kajaani in 1990.
Over the following years, Biohit’s pipettes established a solid global position as ergonomic, safe and reliable solutions for all kinds of liquid handling tasks.
Expanding in European markets and listing on the stock exchange
Biohit launched its first electronic pipette – the Biohit Proline – in 1990. A couple of years later, the company introduced its first mechanical model in the Proline series.
During the 1990s, Biohit headed for European markets with its new products. The first subsidiary was established in France in 1991 and the second in the UK the following year. Biohit’s German subsidiary started up in 1995. Biohit also entered into OEM cooperation with the German company Eppendorf, the French company bioMérieux, the American company 3M and three companies belonging to the Johnson&Johnson Group.
Biohit expanded into medical research and the early diagnosis of diseases. Profitable growth in the liquid handling business enabled substantial investments in R&D in the diagnostics business. R&D on the cost-effective, patient-friendly GastroPanel® examination began in 1996.
The scope and international reach of Biohit’s operations enabled the company to list itself on the Helsinki Stock Exchange in 1999.
Global expansion in the 2000s
Biohit launched more new liquid handling products at the turn of the millennium. Due to their precision and ergonomic design, these high-tech pipettes (eLINE and mLINE) are still market leaders today.
After five years of R&D, clinical trials of the GastroPanel tests were launched in several countries. The examination diagnoses Helicobacter pylori infection and atrophic gastritis, and also screens for the risks of gastric cancer and peptic ulcers.
Biohit continued its global expansion by opening subsidiaries in the United States, Russia and China. In 2006, the company transferred some of its pipette assembly operations to China, in order to be closer to growing Asian markets.
Production premises for diagnostics products were completed in Helsinki in 2001 and Biohit’s service laboratory also started up.
New business areas and growing Asian markets take Biohit into the 2010s
In January 2010, Biohit announced its latest breakthrough, which enabled the company to expand into consumer healthcare products. Almost 30 years of continual, international research have resulted in the Acetium capsule, a product that removes carcinogenic acetaldehyde from the stomach. Acetium went on sale at Finnish pharmacies in May and will be launched in international markets during 2011.
The global economy’s new growth areas in Asia and South America also indicate growth for Biohit. The company strengthened its presence in Asia by opening a subsidiary in India and a representative office in Singapore in early 2010.
Read more about Osmo Suovaniemi’s aggressive innovation and patenting strategy
In 2022, our revenue grew by 17%, to a total of 11.0 million euros.
The previous year’s revenue was 9.4 million euros. Cost control and making sales a priority area were positively reflected in the profitability figures. Our EBITDA margin was 14.7 percent and our operating margin 10.3 percent.