ArchiMed exits Eurolyser to trade for 6x return

The GP has sold Eurolyser to US-based Antech Diagnostics, part of Mars Veterinary Health at an 80% ARR, after just three years of ownership.

The trade sale is the first exit for ArchiMed MED II fund, which closed at EUR 315m in 2017. The exit returns more than half the capital raised for the fund back to investors, said ArchiMed.

The fund invested tickets of EUR 5m-50m in healthcare companies.

Eurolyser designs and engineers patented point-of-care testing equipment and kits to diagnose a range of conditions in animals and humans.

ArchiMed said that the company's profits more than doubled over its holding period alongside annual revenue growth of more than 25%. This was achieved through investment in technology, commercial partnerships with veterinary groups, sales expansion in the US, and hires to strengthen R&D.

After the deal closes, ArchiMed MED II will own 10 companies including two other diagnostic specialists Diesse, which it carved out from PZ Cormay in May 2019, and ZytoMax, which it acquired at the beginning of 2021.

Buyer Antech Diagnostics has 70 veterinary laboratories across the US and Canada, handling 50,000 samples on average every day. 

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