Context
Grundium (based in Tampere, Finland, founded in 2015), produces revolutionary high-precision smart, connected and portable digital microscope scanners for diagnostic pathology, serving a variety of end-users ranging from animal and human healthcare clinics to laboratory service firms
Grundium’s solutions transform the reach and quality of diagnostic pathology, saving time and transportation of physical slides, enabling scarce pathologist resources to be deployed remotely to multiple locations, making high quality scanning affordable for every small clinic, and enabling rapid transmission of scans for remote intra-operative opinions from pathologists. In addition, their high resolution, cloud connectivity and on-board processing enable a range of emerging applications including AI-based diagnostics
This sale of a majority stake enables Grundium to partner with a leading growth player experienced in taking companies to the next level of market dominance, while enabling the successful exit of Ascend Capital Partners and angel investors
About Grundium
A global leader in advanced imaging technology, Grundium makes digital pathology and high quality professional diagnosis available for all life – whether human, animal, plant or other. This is achieved by doing something that nobody else can: applying state-of-the-art mobile technology in digital pathology. Established in 2015 by ex-Nokia engineers, the Tampere-based company is democratizing digital pathology with the Ocus® range of microscope scanners. The cutting-edge imaging solutions are based on over 20 years of experience in optics, sensors and beautiful high-precision devices. Grundium serves various industries and businesses enhancing quality and processes, protecting human life and safeguarding a clean environment
About Ascend Capital Partners
Ascend Capital Partners is a leading China-focused financial firm committed to providing world-class corporate finance services to top Chinese corporations as well as foreign multinationals seeking to establish or expand their presence in China. Through its venture capital investment branch, Ascend Capital Partners provides growth capital to emerging enterprises in Europe, US and China
About EW Healthcare Partners
With close to $4 billion raised since inception, EW Healthcare Partners is one of the largest and oldest private healthcare investment firms and seeks to make growth equity investments in fast growing commercial-stage healthcare companies in the pharmaceutical, medical device, diagnostics, and technology-enabled services sectors in the United States and in Europe
Since its founding in 1985, EW Healthcare Partners has maintained its singular commitment to the healthcare industry and has been a long-term investor in over 150 healthcare companies, ranging across sectors, stages and geographies. The team is comprised of over 20 senior investment professionals with offices in New York, Houston and London
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 Grundium Oy on the sale of a majority stake to EW Healthcare Partners
Bryan, Garnier & Co acted as the Sole Financial Advisor to the shareholders of Grundium Oy on the sale of a majority stake to EW Healthcare Partners. The founders and management of Grundium will retain a significant minority stake in the company and will work closely with EW in continuing to drive revenue and EBITDA growth
Bryan, Garnier & Co ran a highly competitive process introducing a range of global financial sponsors and healthcare specialist private equity firms. The resulting high levels of interest enabled management to select a preferred and limited set of parties with which to proceed into more detailed discussions, and led to the successful selection of EW Healthcare as the most value-added partner of choice
Mika Kuisma, CEO and co-founder of Grundium stated, “Thanks to Bryan Garnier’s experience and deep sector knowledge, they understood the potential of our company and were able to tell our story with conviction to attract the right acquirers who would share our vision. The team at Bryan Garnier guided us through every step of this transaction and ran an extremely well-managed process, leveraging their investor relationships to deliver a strong and well-structured outcome for all parties”
This transaction demonstrates Bryan, Garnier & Co’s continuing strength in running highly competitive processes and achieving successful outcomes for healthcare industry leaders. The transaction builds on Bryan, Garnier and Co’s roster of landmark transactions in the space (including the capital raise for Wandercraft, producer of autonomous walking exoskeletons to transform the use of wheelchairs and the sale of Ginolis, a diagnostics automation provider, to BICO)
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