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| Sebia MINICAP Flex Piercing instrument--Courtesy of Sebia |
U.K.-based private equity firm Cinven has put a for-sale sign out for its diagnostics business Sebia that could fetch more than €1 billion ($1.38 billion), the Financial Times reported.
Cinven, which bought Sebia for €800,000 ($1.1 billion) in 2010, has been an active seller of assets of late, taking advantage of high company valuations, the newspaper said. The firm recently quadrupled its money by selling its stake in French cable company Numericable, and has put PizzaExpress on the market.
In February, Cinven purchased the CRO Medpace for €665 million ($915 million) after losing a bidding war for PRA to KKR last year.
Based outside of Paris, Sebia makes testing equipment used to identify diseases such as blood cancer. Also working in the same space is California startup Guardant Health, which last month raised $30 million in Series B financing more than two months after getting $10 million in a round led by Sequoia Capital.
- read the Financial Times story (sub. req.)
- here's FierceDiagnostics' take