Krogerus advises Finnish institutional investors on their investment in Medix Biochemica

Krogerus advised Finnish institutional investors on their investment in DevCo’s single-asset vehicle for Medix Biochemica, a leading independent supplier of critical biological raw material products to the in vitro diagnostics (IVD) industry worldwide. Following the capital raise, DevCo’s single-asset investment vehicle for Medix Biochemica has total long-term commitments of EUR 616 million. The transaction, as part of which ca. EUR 300 million of new investments were raised to the investment vehicle, provides DevCo with significant additional capital for continued support of the long-term growth strategy of Medix Biochemica.

The new capital was provided by a strong group of investors including, among others, lead investor Council Ring Capital and Antti Herlin (who has been a major anchor investor in the vehicle before the capital raise) as well as cornerstone investors Coller Capital and pension funds Keva, VER and Elo. Existing longstanding investors, such as the Minerva Foundation, the C. Ehrnrooth family, Rettig and Ilmarinen will also continue as key investors in the vehicle following the capital raise.

Medix Biochemica develops, produces, and supplies high-quality antibodies, antigens, and other critical IVD raw material products to IVD test manufacturers around the world, enabling the delivery of accurate IVD tests to billions of patients worldwide. DevCo is a long-term oriented active owner and development partner dedicated to building world-leading companies in selected niche markets.

The Krogerus team was led by Partners Marcus Möller and Annika Schauman who were primarily assisted by Counsel Joonas Parkkinen.