Bridgepoint-backed Diaverum to launch IPO

Mergermarket previously reported that Diaverum was due to list in June at a value of SEK 22-23bn (€2.1-2.2bn). 

The offering will consist of both existing shares sold by the GP, and new shares issued by the company that will provide Diaverum with proceeds of around €290m. Bridgepoint will remain a "significant shareholder" after the IPO, the company said. 

Diaverum will use the proceeds for a partial refinancing through repayment of part of the company's existing credit facilities, for general corporate purposes, including to fund future acquisitions, and transaction costs.

The sale comes 10 years after the GP, via Bridgepoint Europe III Fund, acquired Diaverum, then known as Gambro Healthcare, from EQT and Investor AB for SEK 6.1bn (€586m).

According to the GP, the company has, on average, acquired 15 clinics and entered one new market every year under its ownership, and almost tripled revenues, from €281m in 2008 to €805m in 2019.

Founded in 1991 and headquartered in Malmo, Diaverum is an operator of renal care clinics, with 421 clinics in 22 countries. It employs more than 11,000 staff and generated revenues of €805m in 2019.

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• Topics
• Exits
• Nordics
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• Bridgepoint
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• IPO