Boule Diagnostics
Boule Diagnostics is a Swedish medical technology company that develops, manufactures, and sells hematology diagnostic instruments and reagents for clinical laboratories worldwide, with U.S.-based subsidiary CDS handling global IVD distribution.
- Company typePublic
- Founded1992
- HeadquartersSpånga, Sweden
- Headcount101–250
- GTM typeB2B
- OfferingHardware or Manufacturing
What Boule Diagnostics does
Boule Diagnostics AB (publ) is a Swedish medical technology company founded in 1992 and headquartered in Stockholm, Sweden, listed publicly on OTC markets under ticker BDABF. The company develops, manufactures, and sells hematology diagnostic systems and related consumables, with its portfolio oriented toward blood cell analysis for clinical laboratory settings. Its wholly-owned U.S. subsidiary, Clinical Diagnostics Solutions (CDS), provides in-vitro diagnostics products globally and serves as the company's primary international distribution arm. Operating geographies explicitly disclosed are Sweden, the United States, and India, with a global footprint claim.
The company's revenue mechanics are anchored in instrument placements and recurring reagent / consumable pull-through in clinical diagnostics customers, supplemented by strategic OEM-style supply agreements with large IVD partners. In January 2026, CDS renewed and expanded a multi-year global supply agreement with a leading international IVD customer that is expected to add approximately SEK 5 million in annual sales once fully implemented in 2027 at a solid operating margin. Boule has executed a significant cost restructuring — a 36% reduction in operating expenses completed in 2025, Sweden site consolidation with one-off costs, and a transition to licensed manufacturing in India — while reporting four consecutive quarters of positive operating cash flow through Q1 2026. FY2025 group sales were SEK 489.7 million (down 7.2% organically) and Q1 2026 sales were SEK 102 million (down 10% from the prior-year period), with Q4 2025 gross margin improving 3.5 percentage points to 48.1%.
Leadership transitioned in 2025–2026: CFO Holger Lembrér was succeeded by Michael af Winklerfelt, and Johan Folkunger was appointed CEO effective June 22, 2026. No patents, AI/ML capabilities, regulatory actions, or material M&A activity are disclosed in the available record, leaving those dimensions as data gaps for further diligence.
Boule Diagnostics firmographics
Firmographics- Name
- Boule Diagnostics
- Legal name
- Boule Diagnostics AB (publ)
- Website
- https://boule.com
- Company type
- Public
- Founded year
- 1992
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Boule Diagnostics is a Swedish medical technology company that develops, manufactures, and sells hematology diagnostic instruments and reagents for clinical laboratories worldwide, with U.S.-based subsidiary CDS handling global IVD distribution.
- Ownership category
- akta.pro rank
Boule Diagnostics industry classification
Industry- Product category
- Hematology Diagnostics
- NAICS
- In-Vitro Diagnostic Substance Manufacturing (325413), Analytical Laboratory Instrument Manufacturing (334516)
- SIC
- In Vitro & In Vivo Diagnostic Substances (2835), Laboratory Analytical Instruments (3826)
- akta.pro primary industry
- Hematology & Coagulation Diagnostics (HLAHAAAB)
- akta.pro secondary industry
- Laboratory Automation, Sample Prep & Liquid Handling (IVD Lab Diagnostics) (HLAHAAAN)
Keywords
Where Boule Diagnostics is headquartered
LocationHeadquarters
- HQ city
- Spånga
- HQ country
- Sweden
- HQ region
- Europe
Offices1 record
Markets served
Boule Diagnostics business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Operations, Personnel, Supply Chain, Technology or R&D, Marketing or Sales
Boule Diagnostics product offering
Product offeringCore offering
Boule Diagnostics develops, manufactures, and sells hematology diagnostic systems and consumer products (reagents) for blood cell analysis. Its wholly-owned U.S. subsidiary, Clinical Diagnostics Solutions (CDS), supplies in vitro diagnostics products globally to clinical diagnostics providers. The company is transitioning manufacturing to a licensed model in India.
Product overview
Boule Diagnostics is a medical technology company specializing in hematology diagnostics. The company operates primarily through its U.S.-based subsidiary, Clinical Diagnostics Solutions (CDS), which provides in vitro diagnostics products. The company manufactures diagnostic instruments and reagents, with a planned transition to licensed manufacturing in India. The portfolio appears to focus on blood analysis and hematology testing solutions for clinical laboratory settings.
Differentiator
Problem solved
Functional benefit
Products and services
- Hematology Diagnostic Systems Diagnostic instruments (hematology analyzers) developed and manufactured by Boule Diagnostics for blood cell analysis in clinical laboratory settings, sold to clinical diagnostics providers and in vitro diagnostics customers.
- Hematology Diagnostic Reagents (Consumer Products) Reagents and consumables (described as 'consumer products' in company filings) used in Boule's hematology diagnostic systems, providing recurring revenue for clinical diagnostics customers.
- Clinical Diagnostics Solutions (CDS) — In Vitro Diagnostics Supply U.S.-based subsidiary of Boule Diagnostics that provides in vitro diagnostics products globally, including a renewed and expanded global supply agreement with a leading international IVD customer expected to add approximately SEK 5 million in annual sales once fully implemented in 2027.
Companies that use Boule Diagnostics
Customer profileSegments1 record
Ideal customer profiles1 record
Boule Diagnostics technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Boule Diagnostics partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Leading International In Vitro Diagnostics CustomercoreClinical Diagnostics Solutions (CDS), Boule Diagnostics' U.S.-based subsidiary, renewed and expanded a global supply agreement with a leading international in vitro diagnostics customer. The extended contract is expected to add roughly SEK 5 million in annual sales once fully implemented in 2027, with a solid operating margin. The deal reinforces Boule's partnership-driven strategy and supports its ambition for long-term profitable growth in the global health diagnostics market.
Scale indicators8 records
Recent moves5 records
Expansion highlights4 records
Boule Diagnostics competitors and assessment
Company assessmentMarket position
Competitive moat3 records
Key risks6 records
Key highlights6 records
Customer concentration
Boule Diagnostics social profiles
Digital presenceBoule Diagnostics financial estimates
Financial estimateRevenue estimate
Valuation estimate
Boule Diagnostics leadership team
Management profileNumber of profiles
Profiles5 records
Boule Diagnostics subsidiaries and ownership
Company hierarchySubsidiaries1 record
Boule Diagnostics funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Boule Diagnostics M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Boule Diagnostics
What does Boule Diagnostics do?
Boule Diagnostics develops, manufactures, and sells hematology diagnostic systems and consumer products (reagents) for blood cell analysis. Its wholly-owned U.S. subsidiary, Clinical Diagnostics Solutions (CDS), supplies in vitro diagnostics products globally to clinical diagnostics providers. The company is transitioning manufacturing to a licensed model in India.
Is Boule Diagnostics a public or private company?
Boule Diagnostics is a public company. It is classified as public and is currently operating.
When was Boule Diagnostics founded?
Boule Diagnostics was founded in 1992. It employs 101 to 250 people.
Where is Boule Diagnostics based?
Boule Diagnostics is headquartered in Spånga, Sweden, in the Europe region.
Does Boule Diagnostics have an API?
No public API is recorded for Boule Diagnostics.
What industry is Boule Diagnostics in?
Boule Diagnostics's product category is Hematology Diagnostics. Its primary akta.pro industry code is HLAHAAAB, Hematology & Coagulation Diagnostics, with a secondary code of HLAHAAAN, Laboratory Automation, Sample Prep & Liquid Handling (IVD Lab Diagnostics). Its NAICS code is 325413 and its SIC code is 2835.