Vitrolife Acquires into IVF diagnostics - ABG
Acquires IVF diagnostics company Igenomix
Pays 36x LTM EV/EBITDA
Pre-announced Q2’21 – CER sales growth of 94%
On Thursday 7 July, Vitrolife announced that it had entered into a agreement to acquire 100% of Igenomix from EQT and other shareholders. Igenomix was founded in 2011 and operates in women’s health and reproductive genetic testing for IVF clinics. The company has 26 labs globally, with US as its largest market. Tests offered include Endometrial Receptivity Analysis that evaluates the uterus and PGT-A for genetic evaluation of embryos. The company is headquartered in Valencia, Spain and has 560 employees. The acquisition will expand Vitrolife’s coverage of the IVF journey and it sees cross selling potential through Igenomix complementing IVF clinic service offering.
In conjunction with the acquisition Vitrolife also preannounced its Q2’21 figures. Sales came in at SEK 382m, corresponding CER growth of 94% (8% CER growth vs. Q2’19) and adj. EBITDA was SEK 148m for a margin of 39%. There is a conf. call at 10.00 CET. Dial-in: SEK: +46 8 566 184 67 INT: +44 2071 928338
https://www.introduce.se/foretag/Vitrolife/Equity-research/2021/7/vitrolife---acquires-into-ivf-diagnostics/
