GP-backed Diaverum scraps plans for IPO

Martin Dunn, partner at Bridgepoint, said in a statement that the "indications received did not fully reflect the fundamental value of the business".

The GP was expecting to generate proceeds of around €290m from the offering, consisting of existing shares sold by the GP and new shares issued by the company.

The company was planning to use proceeds for a partial refinancing of the company's existing credit facilities, to fund future acquisitions and transaction costs.

Mergermarket previously reported that Diaverum's listing would have valued it at SEK 22-23bn (€2.1-2.2bn). 

The GP has owned Diaverum for 10 years, having acquired the company (then known as Gambro Healthcare), from EQT and Investor AB for SEK 6.1bn (€586m).

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

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