Mid Europa-backed Diagnostyka acquires GenoMed from MCI

MCI reached a deal to sell all its shares in GenoMed, which is listed on the Warsaw Stock Exchange, to Diagnostyka.

Genomed, in which the MCI.CreditVentures 2.0 fund owns a 36.9% stake, has a market cap of around PLN 27.22m, according to stock exchange data.

MCI Capital launched its first debt vehicle MCI.CreditVentures 2.0 in January 2017, aiming to raise $500m.

Previous funding
Mid Europa Partners acquired a majority stake in Diagnostyka in February 2011. It made the acquisition via its Mid Europa Fund III.

Meanwhile MCI Management purchased a minority stake in GenoMed by investing $390,000 in June 2008.

Company
Founded in 1998 and based in Krakow, Diagnostyka offers diagnostic laboratory services to corporate, individual and hospital customers. The company, which performs around 18 million laboratory tests a year, operates a network of 50 laboratories and employs a staff of 1,000.

Established in 2000 and based in Warsaw, GenoMed provides molecular diagnostic services. The company was created by a team of scientists with experience in the areas of sequencing, oligonucleotide synthesis, medical diagnostics and molecular biology.

People
GenoMed – Anna Boguszewska-Chachulska (CEO, co-founder).
Diagnostyka – Jakub Swadzba (co-founder).
Mid Europa – Matthew Strassberg (co-managing partner); Pawel Padusinski (partner).

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