GED Capital (GED) has exited its investment in Vitro Group (Vitro) through a dual exit route, first selling its flow cytometry division (Cytognos) to the healthcare multinational Becton Dickinson in January 2022 and then its molecular diagnostics and anatomic pathology businesses into a single asset continuation vehicle branded GED Strategic Partnerships I (GED SPI) in February 2022.
Cytognos specialises in flow cytometry solutions for blood cancer diagnosis, minimal residual disease (MRD) detection, and immune monitoring research for haematological diseases. The sale of this subsidiary enables Vitro to focus as a new worldwide diagnostic player in key market segments of molecular diagnostics and anatomic pathology.
GED Strategic Partnerships I acquired GED Fund V and the founders’ remaining interest in the Company and secured additional follow-on capital to fund its value creation plan.
This single asset continuation fund, GED Strategic Partnerships I, is the third secondary transaction led by GED after a tail-end transaction in 2012, and an early secondary investment in GED España V in 2018.
Terms of the individual transactions have not been disclosed.
