Context
Since its foundation in 2010, Ginolis Ltd, headquartered in Oulu (Finland) and with subsidiaries across Europe and the US, has developed into a leading diagnostics automation provider focusing on automation workflows for medical devices and diagnostics.
The systems developed by Ginolis are used globally for the production of consumables for medical devices (such as cartridges for insulin pumps) and in-vitro diagnostics tests, including lateral flow tests and point-of-care (PoC) microfluidic tests.
In 2020, Ginolis’ controlling shareholder Verso Capital commissioned Bryan, Garnier & Co to find a suitable partner to support the accelerated growth and future expansion of the company.
The choice of Cellink AB created an opportunity to build a global leading bio-convergence business and to bring Ginolis’ expertise, products and workflow automation solutions to Cellink’s substantial customer base.
This acquisition enables Cellink to cater for processes from early R&D to standardized large-scale high-throughput production. Ginolis’ strong offer in diagnostic automation solutions for the medical device and diagnostic industries can be fully integrated with Cellink’s current offering and its customers’ workflows. The transaction is expected to generate substantial synergies around innovation and joint future product development. Ginolis will be integrated into Cellink’s industrial automation segment together with Scienion, one of Ginolis’ long-term partners.
About Ginolis
Ginolis is an Oulu (Finland) headquartered technology-driven diagnostics automation company focusing on automation workflows for medical device and diagnostics leaders. The Company was founded in 2010 and employs around 100 people in its assembly sites and sales offices in Finland, Estonia, Sweden, the UK, China, and the US. Ginolis is a leading player in the diagnostics automation segment and offers a range of modular systems for precise manufacturing of multiplex and lateral-flow Point-of-Care tests.
Ginolis has experienced tremendous growth over the past years, with a compound growth rate higher than 120% since 2018 to reach EUR 18m in 2020.
About Cellink
Founded in 2016, Cellink is a global publicly listed leader in bio-convergence that focusses on the application areas of bioprinting, multiomics, cell line development, and diagnostics. The company develops and markets innovative technologies that enable researchers in the life sciences to culture cells in 3D, perform high-throughput drug screening and print human tissues and organs for the medical, pharmaceutical, and cosmetic industries. Cellink’s products are trusted by more than 1,800 laboratories and are being used in more than 65 countries.
Deal Team
Should you want to know more about this transaction, you can contact one of the team members above
Bryan, Garnier & Co acts as Sole Financial Advisor to the shareholders of Ginolis Ltd on the sale of the company to Cellink AB
Bryan, Garnier & Co acted as Sole Advisor to Ginolis’ shareholders throughout the entire sale process.
Bryan, Garnier & Co supported the shareholders in preparing documentation, finding the best possible future partner, coordinating the deal process, organizing due diligence and negotiating the transaction contracts.
Anssi Kariola, Founder and Managing Partner of Verso Capital noted: “Bryan, Garnier & Co played an instrumental role in all of the main steps of the process, supporting the management to prepare for the transaction, reaching the right potential buyer group, and finally in the negotiations of the transaction. We truly appreciate the professional attitude of the team at Bryan, Garnier & Co, and look forward to working together on future transactions”.
The sale of the Ginolis to Cellink represents another successful transaction for the technology and healthcare practices at Bryan, Garnier & Co. It demonstrates Bryan, Garnier & Co’s deep understanding of the healthcare and diagnostics automation environment. Related transactions include the acquisition of Lee Biosolution by Medix Biochemica or the divestiture of TangenX by Groupe Novasep.
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