KKR sells Nordic Bioscience stake back to founder

Investing.com -- KKR has agreed to sell its 10% minority stake in Nordic Bioscience back to the company's founder and majority shareholder, Claus Christiansen, the firms said Thursday.

KKR initially invested in the biomarker development company in 2021 through its Health Care Strategic Growth strategy. The investment supported Nordic Bioscience as it expanded its biomarker capabilities and strengthened its position across R&D services, clinical diagnostics and drug development.

Kugan Sathiyanandarajah, Partner and Head of KKR's European Healthcare Private Equity and Healthcare Strategic Growth teams, said: "We have been proud to collaborate with Claus, Morten and the Nordic Bioscience team over the past five years. During that time, the company further strengthened its position as a leading biomarker business, building on its differentiated expertise in the extracellular matrix and expanding its capabilities across R&D services, clinical diagnostics and drug development."

Sathiyanandarajah will remain on Nordic Bioscience's Board of Directors until the next ordinary general meeting. Chair Håkan Björklund has decided to step down from the board in connection with the transaction, with Christiansen assuming the role as Chair.

Christiansen said: "KKR has been a valued strategic partner to Nordic Bioscience, and we are grateful for their support and expertise they have brought to the company since 2021. Over this period, we have doubled revenue and become even more profitable, while continuing to strengthen our position in biomarker development."

You May Also Be Interested In

• Jefferies Resumes Ferguson Enterprises (FERG) at Buy
• StoneX Starts Lennar (LEN) at Hold
• Docusign Inc. (DOCU) Tops Q2 EPS by 8c, Beats on Revenue