DIESSE: Leading Diagnostics Innovator Sold by ARCHIMED's MED II for 4.6x Return
Deal News | Jan 28, 2025 | Archimed SAS
Private equity firm ARCHIMED has announced the sale of DIESSE, an innovator in clinical diagnostics, to Fremman Capital. DIESSE, acquired in 2019, experienced transformative growth under ARCHIMED's leadership, resulting in a 4.6x return to shareholders. ARCHIMED's MedSeg acquisition strategy focused on the ImmunoAssays sub-sector in the In Vitro Diagnostics space, leading to the acquisition of DIESSE from PZ Cormay group and its scientific founders. Significant investments were made in R&D, infrastructure, and strategic growth initiatives, including international expansion and launching new diagnostic platforms. This transformation was guided by industry veterans, including a newly appointed CEO, Massimiliano Boggetti. The sale aligns with ARCHIMED's practice of reacting to unsolicited offers and reinforces its commitment to value creation. ARCHIMED's MED II fund, initiated in 2018, has seen successful exits, solidifying its reputation, and is now planning fundraisings for MED IV by the end of 2025.
Sectors
- Private Equity
- Healthcare Diagnostics
Geography
- Europe – DIESSE's new production and R&D facility is described as one of the most modern in Europe, and ARCHIMED is a European private equity firm.
- Italy – DIESSE built a new facility in Italy, marking a significant investment in production capacity and innovation.
- United States, Germany, Brazil – DIESSE expanded its global reach with new subsidiaries in these countries, increasing its international sales footprint.
Industry
- Private Equity – The article discusses a private equity transaction involving the sale of DIESSE by ARCHIMED, highlighting investment strategies and fund performance.
- Healthcare Diagnostics – DIESSE operates in the clinical diagnostics sector, focusing on innovative technologies for diagnosing inflammatory diseases and immune disorders.
Financials
- 4.6x – The return to shareholders from the sale of DIESSE by ARCHIMED, representing a 4.6 times return on invested capital.
- 25 million euros – The investment made by DIESSE into its new production and R&D facility in Italy.
- 70% – The percentage of DIESSE's revenues in 2024 generated from international sales.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| DIESSE | Target Company | Company | A clinical diagnostics innovator focusing on inflammatory diseases and immune disorders, sold by ARCHIMED to Fremman Capital. |
| ARCHIMED | Selling Company | Company | A private equity firm specializing in healthcare investments, responsible for transforming and selling DIESSE. |
| Fremman Capital | Bidding Company | Company | The private equity firm acquiring DIESSE. |
| PZ Cormay | Vendor | Company | The company from which DIESSE was initially carved out by ARCHIMED. |
| Massimiliano Boggetti | CEO of DIESSE | Person | Appointed as CEO of DIESSE, brought in through ARCHIMED's MedTalents network, former CEO of Sebia Italy. |
| Roland Diggelmann | Board Member | Person | Industry veteran and previous CEO of Roche Diagnostics, contributed expertise to DIESSE's board. |
| Philippe Chauvin | Board Member | Person | Former Head of research & development at Sebia, contributed expertise to DIESSE's board. |
| Luc Vierstraete | Board Member | Person | Ex-Global Head of Diabetes IVD at Roche Diagnostics, contributed expertise to DIESSE's board. |