EQT to Sell Portfolio Company Igenomix for EUR1.25 Billion to Vitrolife

By Joe Hoppe

EQT AB said Thursday that it will sell its portfolio company Igenomix to Vitrolife AB for an enterprise value of 1.25 billion euros ($1.47 billion), paid in a mix of cash and new shares.

The Swedish private-equity firm said that as part of the transaction, key shareholders in molecular genetic-diagnostics company Igenomix will retain a minority stake in Vitrolife of around 7%.

Vitrolife is a Sweden-based company specializing in products related to in vitro fertilization.

EQT acquired a majority stake in Spain-based Igenomix in 2019, alongside Charme Capital Partners, Igenomix's founder, and management. The sale of the reproductive genetics company is expected to close in the second half of the year.

"Igenomix is a great example of how EQT Private Equity's value-add approach can support Spanish companies in becoming global market leaders," said Carlos Santana, head of the EQT Private Equity Advisory Team for Spain.

Write to Joe Hoppe at [e-mail]

(END) Dow Jones Newswires

07-08-21 1245ET