Mérieux Equity Partners (MxEP) has acquired a significant minority stake in Health in Code (HiC), Spain’s leading integrated clinical genetics platform, alongside Alantra Private Equity’s continuation vehicle and the company’s management team.
The investment is being made through MxEP’s buyout fund, Mérieux Participations 4 (MP4), and marks the fund’s first buyout in Spain.
Founded in 2020 through the merger of Health in Code, Imegen, Genycell Biotech, and later Genologica, HiC offers end-to-end genetic testing services, combining next-generation sequencing, proprietary diagnostic panels, bioinformatics software, and clinical reporting. Its solutions primarily serve public hospitals and are complemented by a Rental Reagent Program, providing equipment, consumables, and software under long-term partnerships.
Under Alantra’s ownership, HiC has grown revenues from €24m to over €50m, scaled operations to around 200 employees, and expanded its presence to more than 30 countries. The new investment from MxEP aims to accelerate HiC’s international expansion into key European markets, drive product innovation, enhance operational efficiency, and explore selective strategic acquisitions.
Theodor Wuppermann, partner at MxEP, said the firm was “excited to partner with Alantra and the management team to support HiC’s next chapter of growth with a specific focus on international expansion.” Ángel Manotas, managing director at Alantra Private Equity, noted the deal highlights HiC’s growth potential, with ambitions to reach €100 million in revenues over the next five years.
Banca March acted as financial advisor to Mérieux Equity Partners on the transaction.
