The Lundbeck Foundation, Kirk Kapital and ATP acquire Ferrosan Medical Devices A/S
The Danish medical device company Ferrosan Medical Devices A/S (FeMD) will now get the Lundbeck Foundation, Kirk Kapital and ATP as owners. The acquisition means that the Lundbeck Foundation expands its portfolio of Strategic Investments in Danish healthcare companies, which also include ALK, Falck and H. Lundbeck A/S.
With the acquisition of FeMD, the Lundbeck Foundation is one step closer to its 2030 goal of being a significant owner of 5-8 Danish healthcare companies, says Lene Skole, CEO of the Lundbeck Foundation:
“We are a committed and long-term owner of several healthcare companies with Danish roots, who have the potential to become world leaders in their respective fields. Therefore, we are pleased to join the ownership group of FeMD – a company that already has a strong position in the global market in medical technology and products for the treatment of life-threatening bleeding and cancer diagnostics.”
Exciting potential
FeMD, which was previously part of the Ferrosan A/S Group, was established in 2005 as an independent medical devices company specializing in developing and manufacturing products for the treatment of acute bleeding during surgery as well as biopsy units for the diagnosis of breast cancer.
“At the Lundbeck Foundation, we are delighted to become part of the ownership group for FeMD, which we consider to be a well-run company that complements perfectly our portfolio of companies, all of which have strong development potential. As a commercial foundation, we work with a long-term perspective and want to create value that develops FeMD both commercially and financially, while strengthening the Danish healthcare industry,” says Arne Due-Hansen, Head of Strategic Investments at the Lundbeck Foundation.
As soon as the legal authorities approve the transaction, the Lundbeck Foundation and ATP will become owners each with a 30% stake. At the same time, Kirk Kapital is increasing its ownership stake in FeMD, from 30% to 40%.
The selling shareholders are the investment company Impilo (52%) and other private investors (18%).
Since 1947, FeMD has developed and manufactured surgical haemostatic devices for use by healthcare professionals. In this context, FeMD has a global partnership agreement with US-based Ethicon, Inc. (part of Johnson & Johnson), which is responsible for sales and marketing of FMD’s haemostatic devices in more than 100 countries. In addition, FeMD develops and produces handheld biopsy devices, used in the diagnosis of breast cancer. These are developed and distributed in collaboration with a global partner. The Danish medical device company has around 350 employees and production facilities in Søborg in Denmark and Szczecin in Poland. In 2021, FeMD had revenues totalling DKK 720 million and an EBITDA of DKK 281 million, and has recorded annual revenue growth of 14% over the past 10 years. In 2010, FeMD was established as an independent legal entity. Prior to that, FeMD had been part of the Ferrosan A/S group, which until 1995 was owned by Novo Nordisk A/S.
The Lundbeck Foundation is a commercial foundation encompassing a comprehensive range of commercial and philanthropic activities – all united by its strong purpose: Bringing Discoveries to Lives. The Foundation is the long-term and engaged owner of several international pharmaceutical and healthcare companies – Lundbeck, Falck and ALK – and an active investor in the financial markets, in Danish biotech companies and in Danish research, which is supported through philanthropic grants to health science talents and research programmes at Danish universities. The Foundation’s grants amount to more than DKK 500 million annually and primarily focus on the brain. This includes the world’s largest personal prize for neuroscience research: The Brain Prize.
