SWEDEN - EQT abandons Q-Med bid

Ivytan AB, the acquisition vehicle set up to facilitate the transaction, which is indirectly owned by EQT and Q-Med founder Bengt Ågerup's Lyftet Holding, launched the SEK 39 a share bid on 3 November. On 25th November, the independent board of Q-med recommended shareholders to reject the offer.

Ågerup founded the company in 1987 based on his research on hyaluronic acid. Its first product, which is used for lip augmentation and filling out of wrinkles, obtained approval for sales in Europe in 1996. The company was listed on the Stockholm Stock Exchange in 1999.

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