EQT sells the Igenomix assisted reproduction firm to Vitrolife for 1,250 million

EQT emerges from the Igenomix assisted reproduction firm just over two years after the investment.The Nordic Fund has agreed to the sale of this company to the Swedish Vitrolife group with an assessment of 1.250 million.

The fund that pilots in Spain Carlos Santana entered Igenomix, a IVI spin-off focused on molecular diagnosis therapies for assisted reproduction, just two years ago, when he acquired the company from Charme Capital and the management team, whichThey retained minority participations.It has a 90 portfolio.000 clients and a strong presence in the US, its second market after Spanish and where it has one of its central laboratories.It has laboratories in China and Italy and presence in geographies as disparate as Japan, India, Mexico, Brazil or Canada.

At the beginning of the year, EQT explored the sale of this participated, at a time of appetite of investors by health sector companies.He hired JP Morgan and Morgan Stanley and came to shuffle a possible outplay in the New York parquet, which also raised in 2019. Allen&Overy se ha encargado de los asuntos legales de la transacción y Freshfield, de los fiscales.

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Carlos Santana himself confirms in an interview with Fifodies that the appeal plan was an Iasde IPO in the Nasdaq."We were working on it and we thought about launching the operation in a few months," he explains.But in this framework several venture capital funds and industrial competitors approached the company and shareholders to try to promote an operation.The chosen one was finally Vitrolife, a company quoted in the Stockholm Stock Exchange dedicated to the production of equipment and consumption for assisted reproduction clinics.He has achieved more than duplicating the 500 million that was spent in 2019.

EQT, who was the majority shareholder of Igenomix, receives a cash consideration, but also vitrolife actions.Also Charme Capital and the management team, minority shareholders of Igenomix, will obtain a participation in the Swedish group.Among all they will control around 7%.The company has a stock market value, according to this Thursday, 43.660 million Swedish crowns (4.300 million euros).

The objective is to create a world leader in assisted reproduction, aimed at providing services to clinics.Igenomix will keep his management team, commanded by David Jiménez, as well as his workforce and laboratories.During the low stage of the EQT baton, Igenomix has duplicated its size thanks to a strategy to boost its growth and internationalization.