HERAN Partners is pleased to announce that their portfolio company UgenTec has been acquired by private equity firm Summa Equity. With Summa as reference shareholder, UgenTec will be able to capitalize on a strong track record of growth and innovation in molecular diagnostics. From the start, HERAN Partners was a strong believer in UgenTec's team and their groundbreaking approach to revolutionize the diagnostics market.
Summa Equity invests in companies with a positive impact on society, focusing on tech-enabled businesses, resource efficiency,and changing demographics. As personalized medicine is fast becoming data-centric and digitized, UgenTec, with its core focus on increasing the quality and reliability of molecular diagnostics and the major role it played in the pandemic, proved a perfect fit for Summa.
Driven by this shared vision, the new ownership and investment will allow UgenTec to accelerate its international expansion as well as expand its solution portfolio from PCR testing to additional types of molecular and non-molecular diagnostics, such as NGS, serology and Mass Spec applications. Moreover, UgenTec will continue its expansion into clinical diagnostics, agbio applications, and the pharma/biotech space, among others.
In the transaction, Summa becomes the majority shareholder, purchasing shares from HealthTech investment fund HERAN Partners, Limburg and Flemish early-stage investor LRM, and other early shareholders. The existing management team is already partnering with Summa to extend its footprint of geographies, applications, and technologies, evaluate organic and in organic growth opportunities, and collaborate with portfolio companies.
“We are extremely pleased to join the Summa portfolio, since we share a data-driven vision for diagnostic testing and precision medicine. Contemporary molecular diagnostics now requires optimizing lab and healthcare workflows with smart software automation and unlocking valuable operational, research and clinical insights in diagnostic lab data through AI and data science.” - CEO Steven Verhoeven(UgenTec)
“We are excited to welcome UgenTec to Summa family of portfolio companies. UgenTec with its unique lab workflow and interpretation software is a great fit with our ambitions in contributing to better healthcare, as exponential technological advancements and innovations are rapidly expanding what is possible. In turn, this is creating fundamentally new avenues for impacting health and improving patient outcomes.” - Hans Cobben, Partner (Summa Equity)
"As an early investor, we are pleased to have supported UgenTec in the global commercial roll-out and vision for their Fast Finder platform. With Summa as reference shareholder, UgenTec will be able to capitalize on a strong track record of growth and innovation. From the start, we were strong believers in the management team and their groundbreaking approach to revolutionize the diagnostics market. - Katleen Vandersmissen (HERAN Partners)
Read the full press release (ENG)
About UgenTec
UgenTec is a leading molecular laboratory software provider servicing molecular diagnostics labs and assay providers globally across clinical, animal, pharma and agbio applications. Its FastFinder software platform is a modular, clinical-grade Software-as-a-Service solution that allows labs of all sizes to standardize and automate their molecular testing workflows. UgenTec’s FastFinder platform applies Artificial Intelligence to automate data analysis and result calling from sample to result, track and trace samples across the lab’s entire assay menu and instrument fleet, and provide the lab with valuable real-time insights in quality and lab operations. FastFinder’s modules include Workflow, Analysis,Insights, QC, Genotyper and Studio.
About Summa Equity
Summa invests in companies that are solving global challenges and creating positive Environmental, Social, and Governance (ESG) outcomes for society.
Summa’s purpose is to co-create win-win for investors, portfolio companies, and society through aligning its vision and outcomes to the Sustainable Development Goals, ensuring a net-positive impact against ESG challenges, and the potential for long-term, sustainable performance.
Investments are focused on industries and companies that have tailwind from mega trends within three sustainability themes: Resource Efficiency, Changing Demographics, and Tech-Enabled Transformation.Across these themes, Summa’s portfolio companies are supporting a world in transition and showing that business can be part of the solution. Summa Equity has c. EUR 4 billion (c. SEK 40 billion) assets under management.
