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KKR Sells Nordic Bioscience Stake Back to Founder Following Period of Growth
Investment firm KKR & Co. Inc. has sold its 10% minority stake in Nordic Bioscience back to the company’s founder and majority shareholder, Claus Christiansen. The transaction, announced by the firms on Thursday, concludes KKR's investment which began in 2021 through its Health Care Strategic Growth fund.
A Successful Growth Partnership
KKR's 2021 investment was intended to help Nordic Bioscience expand its biomarker capabilities and strengthen its market position in R&D services, clinical diagnostics, and drug development. According to the company, the partnership achieved significant results.
"Over this period, we have doubled revenue and become even more profitable, while continuing to strengthen our position in biomarker development," said founder Claus Christiansen, who described KKR as a "valued strategic partner."
Kugan Sathiyanandarajah, Partner and Head of KKR’s European Healthcare teams, stated, "During that time, the company further strengthened its position as a leading biomarker business, building on its differentiated expertise in the extracellular matrix."
AdLeadership Transition
Following the transaction, Nordic Bioscience will see a change in its board leadership. The key changes include:
- Håkan Björklund will step down from his position as Chair of the board.
- Founder Claus Christiansen will assume the role of Chair.
- KKR's Kugan Sathiyanandarajah will remain on the Board of Directors until the company's next ordinary general meeting to ensure a smooth transition.
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