Ampersand takes minority stake in GenDX

CEO Wietse Mulder remains the majority shareholder with a share of more than 50% and will continue to lead the management team. Ampersand is the first external investor and partner for the company since its inception.

Ampersand typically invests $10-50m in companies with $10-100m in annual revenue. The firm is currently investing from its Ampersand 2018 fund, which held a final close on $450m in 2018.

The capital will be used to support growth both organically and through M&A in the molecular diagnostic products and services market. Following the transaction, general partner David Parker and operating partner Mike Evans have joined the GenDX board. Operating partners Larry McCarthy and Frank Witney will join as advisers.

Company
GenDX develops and markets a line of in vitro diagnostic tests and services such as analysis software and education. Founded in 2005, the company employs 60 people. It is based at the University Science Park in Utrecht and operates an office in Chicago.

People
Ampersand Capital Partners – David Parker (general partner).
Genome Diagnostics – Wietse Mulder (CEO).

Advisers
Equity – RSM (financial due diligence, tax); McDermott Will & Emery (legal); NautaDutilh (legal); Percepta Associates (commercial due diligence).
Vendor – Axon Lawyers (legal); Verder Fiscaal (financial due diligence).

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• Topics
• Expansion
• Benelux
• Healthcare
• healthcare
• Netherlands
• Minority investing