Gimv exits Biolam to its management backed by investors after a fast and successful growth trajectory into a leading French group of clinical testing labs
Biolam and Gimv today announce an important step in the growth trajectory of Biolam. Following the group's fast and successful development, combining organic and external growth, Gimv is selling its stake in Biolam to its founding team, backed by private equity investors. The founders, the management and their new partners will further focus on quality of service and care, and expansion in France.
In 2019, Gimv acquired a stake in Biolam 80 (www.groupebiolam.fr), an emerging group of clinical testing laboratories operating in the city of Amiens, together with Daniel Attias. The original plan, co-designed with Daniel Attias, aimed at creating a leading player in the Hauts-de-France region, in terms of size, clinical performance and level of service.
From the start Biolam has grown very quickly thanks to a combination of laboratory creation in under-serviced locations, an important enabler for accessible quality care, and strategic acquisitions. In parallel, the group continuously invested in staff, care organization, diagnostics equipment and IT backbone, serving its ambitious medical project. Altogether, these efforts enabled Biolam to become a leading laboratory group in the Hauts-de-France and Normandie region with a solid foundation for continued success.
The company currently operates a network of more than 30 labs, with 4 technical platforms and has a rich pipeline of active acquisition targets. Since Gimv’s investment in 2019, Biolam has signed 7 add-on acquisitions and has built a leading and high-quality diagnostics organization.
The transaction announced today will strengthen the company's relentless focus on quality of service and care and expansion in its regions. The management team, with its new partners, will further invest in its organization while growing its laboratory network in order to build an even better diagnostic company for all stakeholders.
The transaction has no significant impact on the Net Asset Value of Gimv as of 30 September 2022. No further financial details will be disclosed.
Gautier Lefebvre, Partner at Gimv, and Kevin Klein, Principal at Gimv, state: " We are extremely proud of having partnered with Biolam and Daniel Attias for its growth strategy where focus on quality diagnostics and service level to practitioners have always been paramount, especially during the pandemic. Since the start, we have been perfectly aligned with the management team, resulting in an optimal ability to build the organization and to seize growth opportunities. We are grateful for the successful and excellent cooperation with the management of Biolam and wish them - together with their new partners - all the best in their further growth trajectory.”
Daniel Attias, Chairman of the Biolam Group, says: "We have exceeded the targets we initially set ourselves with the Gimv team, which is a sign of a very effective collaboration. We are thankful for the successful partnership with Gimv that enabled the development of Biolam into an established and leading laboratory group with solid foundations for the next growth phase. and look forward to further grow with our new partners.”
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