New corporate transaction in the Spanish assisted reproduction industry. EQT has formalized an agreement for the sale of Igenomix to Vitrolife. The company is valued at $1.48 billion (€1.25 billion) and the acquisition will be financed through a combination of cash and new shares to EQT and minority shareholders of Igenomix. As part of the deal, Igenomix shareholders will have a minority stake in Vitrolife representing 7%, the group announced in a statement.
Founded in 2011 as a spin-off from IVI Group, Igenomix is a global benchmark in women’s health and reproductive genetics services for in vitro fertilization (IVF) and rare disease clinics. It assists approximately 90,000 patients per year through a diversified portfolio of diagnostic services. Igenomix has approximately 560 employees and is headquartered in Valencia, with additional laboratories in 21 countries.
In the fiscal year 2019, EQT acquired a majority equity stake in Igenomix, which also includes Charme Capital Partners, the founder of Igenomix, and the management team.
Read more on the subject and find other business news with our companion app Born2Invest
EQT acquired Igenomix in 2019 and is now selling the company, expecting to close the transaction in the second half of the year
During the period of EQT’s investment, Igenomix has strengthened its organization, mainly by enhancing digital sales and marketing capabilities. In addition, the company has made substantial investments in its product portfolio and in research and development (R&D).
As a result, it has launched a non-invasive preimplantation genetic test, a test for the detection of Covid-19, and a new business line: precision genetic diagnostics for the detection of rare diseases. Igenomix has also continued to consolidate its international presence and has entered countries such as China, Chile, Peru, Russia, Saudi Arabia, and Taiwan, among others. The company currently serves more than 3,000 clinics in 80 countries.
The transaction is subject to customary conditions, such as obtaining the respective regulatory approvals and is expected to close in the second half of 2021. Vesa Koskinen, Partner at EQT, is expected to join Vitrolife’s board of directors.
J.P. Morgan and Morgan Stanley have acted as co-financial advisors to Igenomix, A&O and White&Case have provided legal advice and Freshfields has acted in the capacity of tax structuring advisor.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
The ETF Market Reached €589 Billion in the First Half of the Year
Global indices recorded the bulk of flows in Europe with $40.5 billion (€34.3 billion) followed by the U.S. and North...
The Metaverse Is the Way of the Future, and Facebook Just Confirmed It
The metaverse is a fast-emerging reality billed to become the place where we will all live and work in the...
The Spanish Health Tech Sector is Advancing at a Fast Pace
Although the major poles of innovation in digital health are mainly in the major world powers such as the United...
Why Were Cotton Futures Lower for the Week
Cotton futures were lower last week on demand concerns as ideas of strong demand continue. The weekly export sales report...
Fed: Murderer of Markets and the Middle Class
To this point, Total non-financial debt has skyrocketed from $54.3 trillion, at the start of the pandemic, to $62 trillion...
Cannabis5 days ago
First Legal Cannabis Crop Harvested in Ecuador
Featured6 days ago
Mining Companies with High ESG Ratings Outperform the Market in Financial Performance
Business5 days ago
Is Peer to Peer Lending Safe for Investments?
Featured6 days ago
Which Financial Products Have Grown the Most in 2021?