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Novo A/S makes big investment in lab services group

Novo A/S has finally put a part of its cash reserve to good use in the life science industry with a sizeable investment in a European provider of laboratory services – an investment that sees the venture capital group entering a new segment.

Foto: Colourbox

Eivind Kolding, the CEO of Novo Nordisk parent and holding company Novo A/S, recently said that the group has about DKK 50 billion to invest, but that it has proved difficult to find worthwhile investments in the life science industry. But the venture capital company has now finally found a company to bet on.

Novo A/S has thus invested in Germany-based Synlab, the biggest provider of laboratory services in Europe. The parties have not wished to disclose the exact amount invested, but Novo has secured an option to take a shareholding of more than 10% in the German company, which boasts 13,000 employees across 35 countries and conducts 400 million diagnostic tests on up to 50 million patients each year. The company generates annual revenue of about EUR 1.5 billion.

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