DevCo has acquired majority of the shares in Medix Biochemica

Medix Biochemica, a Helsinki, Finland-based biotechnology company, announced getting into an investmet agreement for selling a part of the company to DevCo Partners, a Finnish investment firm.

Financial details were not disclosed. Fillowing the deal, DevCo will control the ownership while earlier majority shareholder, Minerva Foundation, will continue as a significant shareholder in the company. Ann-Christine Sundell will continue as Medix Biochemica’s Chairman of the Board and Ismo Råman will continue as the company’s CEO.

Medix Biochemica is a leading manufacturer of bioreagents for the global IVD industry. In addition, it offers diagnostic tests specifically designed for the women’s health sector. Medix Biochemica was founded in 1985 and it currently employs c. 100 people at its facilities in Espoo, Joensuu and Shanghai. Medix Biochemica’s sales estimate for 2017 is c. EUR 20 million, with exports accounting for over 90% of the sales.