Impilo divests leading haemostatic device developer and manufacturer Ferrosan Medical Devices to Danish consortium of long-term investors
Impilo AB (“Impilo”) and other minority investors, incl. Hans-Christian Bødker Jensen, have signed an agreement to divest the Danish medical devices company Ferrosan Medical Devices Group A/S (“FeMD”) to a consortium of Danish long-term investors consisting of Kirk Kapital, Lundbeckfonden and ATP (the “Consortium”).
Impilo invested in FeMD in 2017 and has together with the management team realised the vision of creating a world leading medical devices group with product innovation and improved health outcomes at the core of its business. During Impilo’s ownership, revenues and EBITDA have doubled, substantial efforts have been put into bolstering the product innovation pipeline and large investments have gone into expanding the capacity at the company’s manufacturing sites, creating more than 100 new jobs. Further, FeMD has taken important steps towards becoming a more sustainable medical device company by increasing transparency and setting clear targets for its commitments to the environment, employees and patients.
Impilo’s Managing Partner and FeMD board member since 2011 (and on the Ferrosan A/S board 2005-2011), Fredrik Strömholm comments:
“Ferrosan Medical Devices is a unique company in the Nordic healthcare space with a long history of uninterrupted growth, product innovation and strong health impact. Each year FeMD sells more than 13 million units that are used in surgical care settings to help stop bleedings rapidly, enabling patients to recover faster and with fewer complications. During our ownership we have invested significantly in product innovation, and we are proud that the company now has a stronger than ever innovation pipeline that can help improve surgical outcomes for years to come. Having worked with FeMD for 17 consecutive years, I feel confident that the Consortium brings the necessary long-term perspective and commitment to innovation that will allow FeMD to continue to prosper and lead the way within haemostasis.”
Since 1947, FeMD has developed and manufactured haemostatic devices used by healthcare professionals around the globe to stop bleedings during surgery. In fact, every three seconds a device from Ferrosan Medical Devices is used somewhere in the world. FeMD has a mission to provide innovative, effective and safe devices that enable surgeons, nurses and clinicians to perform surgical procedures as seamlessly as possible without complications.
Rasmus Hother le Fevre will continue as CEO of the Group.
“I would like to thank the entire Impilo team and the other shareholders for their strong support to FeMD over the years. During their ownership, the company has invested significantly in both human capital, production capacity and product innovation – cementing our position as a global leader in the haemostatic device space. Finally, I am very happy to welcome Kirk Kapital, Lundbeckfonden and ATP as new owners of FeMD. Together with the board and the rest of the management team, I look forward to continuing to realise the long-term potential for FeMD to improve patient outcomes in situations where acute bleedings occur during surgery.”, says Rasmus Hother le Fevre
The transaction is subject to approval by the relevant competition authorities.
Contact details
Fredrik Strömholm, Managing Partner, Impilo, +46-76 115 10 65, fredrik.stromholm@impilo.se
About FeMD
FeMD develops and manufactures haemostatic medical devices used in surgical procedures by health care professionals all over the world to control bleedings. The devices are marketed through a global partnership agreement with Ethicon, Inc. (a Johnson & Johnson company) and are available in more than 100 countries. In addition, FeMD develops and produces handheld biopsy devices that are marketed through a global partner. The devices are used by physicians for breast cancer diagnostics. Today, FeMD is one of the world’s largest manufacturers of hemostatic devices and employs over 350 employees across its two sites in Denmark and Poland. In 2021, FeMD reported revenues of 720 million Danish kroner and an EBITDA of 281 million Danish kroner and has during Impilo’s ownership period realised a compounded annual revenue growth of 13%. FeMD was established as a separate legal entity in 2010, following a demerger from Ferrosan A/S. Learn more about FeMD at www.ferrosanmedicaldevices.com.
About Impilo
Impilo is a Nordic investment company focused on long-term investments in sustainable healthcare companies active in pharmaceuticals, medical technology, healthcare services and other health-related areas. Impilo strives to increase value of its investments through long-term active ownership. Impilo has a well-diversified portfolio of healthcare investments and manages c. EUR 1 billion of capital from leading Nordic and international investors. Learn more about Impilo at www.impilo.se.
