ACXIT CAPITAL PARTNERS ADVISED EUROPEAN HEALTHCARE PRIVATE EQUITY SPECIALIST ARCHIMED ON THE ACQUISITION OF ITALIAN IN VITRO DIAGNOSTICS COMPANY DIESSE DIAGNOSTICA SPA

Frankfurt, 29 May 2019. On May 22, 2019, ArchiMed announced the purchase of Diesse Diagnostica Senese SpA (‘Diesse’) by Duomodiag Sarl, a holding company backed by ArchiMed through its MED II fund, with bank finance provided by leading Italian banks MPS Capital Services and BPER. The transaction was completed on May 13, 2019. Diesse was acquired from its founders and from Orphée SA, the Swiss subsidiary of Warsaw listed diagnostics group PZ Cormay SA.

Diesse is an Italian developer of innovative in vitro diagnostic (‘IVD’) systems for the diagnosis of infectious and autoimmune diseases, and hematology systems to test for inflammation. The company was founded in Siena in 1980 by a group of Tuscan research scientists and generated revenues of more than EUR 22 million in 2018 in more than 100 countries. Diesse employs approx. 150 people.

Diesse’s business is driven by two main product lines, including the Chorus and VES-MATIC brands:

  • The Chorus range of instruments offers a growing menu of ELISA-based immunoassays in mono-test format for the diagnosis of infectious and autoimmune diseases. The recent development of the Chorus Autosampler has enabled automation in the pre-analytical phase.
  • With the VES-MATIC line of hematology systems, Diesse has been a pioneer in providing an automated approach for the measurement of the erythrocyte sedimentation rate (ESR) with high correlation to the gold standard Westergren method.
ACXIT Capital Partners acted as exclusive M&A advisor to ArchiMed. The transaction is another strong testimony for ACXIT’s international reach, involving companies domiciled in Switzerland, Poland, Italy and France.
Following the successful execution of the sale of Belgian IVD company DIAsource Immunoassays SA to Czech Republic-based BioVendor Group, it also adds another reference transaction to our strong track record in the diagnostics sector, one of the key target segments within our Life Sciences and Healthcare practice.

 

About ArchiMed

ArchiMed is an independent investment firm specialized in the Healthcare industries. It is a strategic and financial partner to European and North American companies operating in the Biopharma, Medtech, Diagnostics, Life Sciences, Healthcare IT, Consumer Health, Public Safety and Care Services sectors.
ArchiMed’s international team combines investment, medical, technological and operational experience. It works alongside management teams to accelerate their business growth, through internationalization, product and service range expansion as well as capacity extension, both organically and through acquisitions.
Over the last 20 years, ArchiMed’s leadership team directly managed and invested in over 40 small, medium and large-size healthcare companies throughout the world, with a combined value above five billion euros. ArchiMed’s investment capacity currently exceeds one billion euros and potentially twice this amount when including its strategic investment partners. (www.archimed-group.eu)

 

About ACXIT Capital Partners

ACXIT Capital Partners is a leading independent corporate finance and investment advisory firm for mid-market clients and entrepreneurs in Europe and beyond. As an independent, privately owned firm, we maintain offices in Frankfurt, Berlin, Munich, Leipzig, Zurich, Hong Kong and New York as well as strong alliances in France, China and India. Our clients are corporations, family-owned businesses, entrepreneurs, financial sponsors and family offices.

 

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Patric Garvin
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Email: patric.garvin@fticonsulting.com

 

ACXIT Capital Partners Transaction Lead

Klaus Nestler, Managing Partner (klaus.nestler@acxit.com)