Alantra Private Equity portfolio company Health in Code acquires Genologica
Date 2 August 2023
Type Press Releases
With this acquisition Health in Code achieves its goal of doubling its size in three years
- This is Health in Code’s first acquisition since 2020 when it was created through the merger of three leading companies in the clinical genetics sector in Spain: Imegen, Genycell Biotech, and Health in Code
- Since 2020, Health in Code has delivered organic annual growth of more than 20%
- Health in Code’s expansion plans include the acquisition of other genomic diagnostics companies in Spain and the rest of Europe
Health in Code, a leading clinical genetic diagnostics company in Spain and an Alantra Private Equity portfolio company, has acquired genetic analysis laboratory Genologica to consolidate its leading position in Spain. Both parties have agreed not to disclose financial details of the transaction.
Founded in Malaga and with a strong presence in Andalusia, Genologica has more than 15 years of experience in genetic analysis for the prevention, diagnosis, assessment, and treatment of hereditary or genetic diseases. Its founders and main executives, Javier, José María and Daniel Porta, will continue to lead Genologica and will join Health in Code’s management team.
Health in Code is the result of the merger of three leading companies in the clinical genetics sector in Spain at the beginning of 2020: Imegen, Genycell Biotech and Health in Code. Alantra Private Equity is the majority shareholder of the Group, which includes among its shareholders the founding partners of the three former companies.
The acquisition of Genologica is the Group’s first add-on since its foundation and is in line with a buy-and-build strategy targeting companies or projects characterized by differentiation and clinical excellence.
Health in Code expects to reach €45m in revenues this year, of which approximately €4m will be contributed by Genologica. This represents an annual growth rate of more than 20% since 2020, doubling the initial size of the Group and demonstrating the sector’s strong growth.
The Group’s expansion plans include the acquisition of other medical genetics companies to complement its portfolio of services and products, as well as the organic development of new international markets based on a differential value proposition and unique technological capabilities. Health in Code currently has operational centers in Valencia, where it is headquartered, La Coruña, Granada and Malaga, employing more than 200 professionals. Last June, Health in Code installed the first NovaSeq X Plus in Spain, reaffirming its position as a leader in sequencing committed to whole genome studies.