Apposite Capital, a private equity firm specialising in healthcare, has made an initial investment of EUR7 million in NIMGenetics, a genetic diagnostic laboratory based in Spain.
The company is operating in a fast-growing market and generated 34 per cent in revenue growth last year.
Apposite’s investment will enable NIMGenetics to further develop its service offering as well as support its international expansion, especially in Latin America.
NIMGenetics uses the latest genomic technologies to offer products and services in a number of medical areas including pre-natal testing, gynaecology, neurology, paediatrics, cardiology and oncology. The company was created in 2008 and currently serves over 500 medical centres and 1,500 clinicians, mainly in Spain and Latin America.
The global genetic testing market is one of the fastest growing areas in healthcare and is poised to grow over 10 per cent per annum in the next decade to reach approximately USD10.3 billion by 2025. It offers considerable medical applications such as early and precise diagnosis, better understanding of the predisposition for diseases and better understanding of individuals’ reaction to a particular drug.
David Porter, managing partner at Apposite Capital, who is joining the board of directors, says: “NIMGenetics is at the forefront of genetic innovation and excellence in the provision of the genetic laboratory services. We believe it represents an ideal platform to take advantage of the extremely attractive clinical genetics and pharmacogenomics markets. Together with the management team, we look forward to further expanding its services capabilities and international footprint.”
Enrique Samper Rodríguez, CEO of NIMGenetics, says: “Apposite’s investment will help strengthen our leadership position in the field of genetic diagnostics. It will also support the growth of our company not only nationally but also internationally, positioning NIMGenetics as a worldwide provider of genetic diagnostic services with a broad catalogue of products and services across the following areas: prenatal, gynaecology, neurology, paediatrics and oncology. Clinical genetics is now becoming widely available and will make high-quality, efficient and cost-effective health outcomes possible.”
