DIESSE Transformation and Sale Yields 4.6x Return for ARCHIMED
Deal News | Jan 28, 2025 | Archimed SAS
In an impressive exit, ARCHIMED, a private equity firm focusing on healthcare, has sold DIESSE, a leader in clinical diagnostics, to Fremman Capital, generating a return of 4.6 times the invested capital for its shareholders. This culminates a five-year partnership underpinned by a transformation strategy guided by ARCHIMED's MedSeg approach, targeting ImmunoAssays within the In Vitro Diagnostics sector. Originally carved out from PZ Cormay and acquired from five founding scientists in 2019, DIESSE emerged as a leader in modern diagnostic solutions for inflammatory diseases and immune disorders. This transformation was driven by an experienced diagnostics team, led by newly appointed CEO Massimiliano Boggetti, and was supported by industry veterans on the board. ARCHIMED's strategic initiatives, including significant R&D investments, expansion of production facilities, and international outreach, positioned DIESSE for future growth, with products now reaching over 100 countries. ARCHIMED's MED II fund, which oversaw this investment, ranks highly among buyout funds and continues its legacy with ongoing ventures.
Sectors
- Healthcare
- Private Equity
- Diagnostics
Geography
- Italy – DIESSE, the target company, expanded its operations and set up a state-of-the-art production and R&D facility in Italy.
- France – ARCHIMED, the private equity firm involved, is headquartered in France.
- Europe – Emphasizes DIESSE's status as one of the most modern In Vitro Diagnostics facilities in Europe.
- Global – DIESSE's products are sold in over 100 countries, highlighting a significant global reach.
Industry
- Healthcare – Relevant as the article discusses ARCHIMED, a healthcare-focused private equity firm, and its investment in the clinical diagnostics sector through DIESSE.
- Private Equity – Pertains to ARCHIMED as a private equity firm conducting the acquisition and sale of DIESSE, illustrating investment strategies and outcomes.
- Diagnostics – Central to the article is DIESSE's transformation into a leading clinical diagnostics innovator, focusing on In Vitro Diagnostics and ImmunoAssays.
Financials
- 4.6x – Return on investment generated by the sale of DIESSE for ARCHIMED shareholders.
- 25 million euros – Investment in DIESSE's new production and R&D facility in Italy.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| ARCHIMED | Seller | Company | A private equity firm specializing in healthcare investments and the former owner of DIESSE. |
| DIESSE | Target Company | Company | A clinical diagnostics company specializing in systems for diagnosing and monitoring inflammatory diseases. |
| Fremman Capital | Buyer | Company | Private equity firm acquiring DIESSE from ARCHIMED. |
| Massimiliano Boggetti | CEO | Person | CEO of DIESSE, previously CEO of Sebia Italy, contributed to DIESSE's transformation under ARCHIMED's ownership. |
| Roland Diggelmann | Board Member | Person | Former CEO of Roche Diagnostics, served on DIESSE's board during ARCHIMED's ownership. |
| Philippe Chauvin | Board Member | Person | Former Head of R&D at Sebia, served on DIESSE's board contributing expertise. |
| Luc Vierstraete | Board Member | Person | Ex-Global Head of Diabetes IVD at Roche Diagnostics, served on DIESSE's board. |
| PZ Cormay | Former Owner | Company | The group from which DIESSE was carved out before being acquired by ARCHIMED. |