Headquartered in Espoo, Finland, Aidian is a global provider of IVD instruments and tests, with a leading position within the growing point-of-care (POC) market, providing fast, reliable and accurate test results. With a large installed base of more than 60,000 QuikRead go® diagnostic instruments worldwide, Aidian’s diagnostic tests facilitate the tackling of numerous global health threats, including antimicrobial resistance (AMR), diabetes and colorectal cancer.
Established in 1974 as a subsidiary of the Finnish pharmaceuticals company Orion Corporation, Axcel acquired Aidian in a carve-out in 2018. Under Axcel’s ownership, Aidian has, among other things, invested significantly in its operational backbone, establishing itself as a standalone company, strengthened its organisation around the globe, including expanding its direct sales network, focused heavily on R&D and launched new diagnostic tests as well as completed an acquisition in the strategically important Benelux market. Furthermore, as a leading provider of COVID-19 diagnostic tests across Europe, Aidian continues to play an important role in the fight against COVID-19. As a result, Aidian has doubled its revenue in the last four years and significantly increased its margins.
Thomas Blomqvist, Partner at Axcel, says: “During our ownership, Aidian has developed further into a true leader within diagnostic testing for the POC market. Juho Himberg and the management team have done an outstanding job in taking Aidian to the next level, and we at Axcel are proud to have been part of that journey. We believe that Nordstjernan is an ideal new owner and that Aidian will continue to thrive under its new ownership.”
Juho Himberg, CEO of Aidian, says: “We’re grateful to Axcel for all its support in the last four years, successfully transforming Aidian into a standalone global leader within IVD with an agile organisation and attractive customer offering. We now very much look forward to joining Nordstjernan, an organisation well known for its professional and long-term development of businesses within healthcare and other industries.”
The transaction is expected to close in Q1 2022.
Axcel and Aidian were advised by Rothschild & Co, Roschier and KPMG.