21 May 2021

Pending sale of HyTest to Mindray for €545 million

a portfolio company of

has been acquired by


BDA Partners is pleased to announce HyTest Invest Oy (“HyTest”), a portfolio company of Summa Equity, advised by William Blair in conjunction with BDA Partners, has agreed to be acquired by Mindray (Shenzhen Stock Exchange Ticker: 300760) for €545 million in total consideration. The transaction was signed on May 16, 2021 and is expected to close in the second half of 2021.

HyTest produces high-performance antibodies and antigens for use as key components for various laboratory assays and kits. The company has gained market leading positions in several key segments, including cardiac markers, inflammation, and infectious diseases. HyTest’s products cover over 20 disease groups and supply antibodies and antigens for in vitro diagnostic (IVD) tests run on over 300 million patients globally. The company is based in Turku, Finland with a presence in Shanghai, China, and Moscow, Russia. www.hytest.fi

Juhana Rauramo, CEO of HyTest, stated, “We are delighted to partner with Mindray as we look forward to the future in delivering the best products and customer service to our global customers. Mindray is the ideal strategic partner for HyTest, and we are excited to join its team and to continue on our journey of providing the highest quality antibodies and antigens.”

Hao Wu, CEO of Mindray, stated, “Mindray has been working with HyTest for more than a decade. Upon completion, we are strived to invest in more resources into HyTest’s technology innovation and product development, to further improve on its pioneering scientific capabilities and serve the global IVD customers with world-class products and service.”

Andrew Huntley, Managing Partner and Global Head of Healthcare, BDA, said, “The IVD and wider diagnostics sector is attracting a high level of interest in Asia and from Asian acquirors. We expect to see more transactions in this space driven by both strategic acquirors and financial sponsors.”

For more information, please contact Andrew Huntley ahuntley@bdapartners.com, or Anthony Siu asiu@bdapartners.com at BDA Partners.

About Summa Equity

Summa Equity was founded in 2016 and closed its second private equity fund in 2019 with SEK 6.7 billion to invest with the aim of helping solve global challenges. The firm invests in sectors associated with three megatrend-driven themes: resource efficiency, changing demographics and technology-enabled businesses, and has built a portfolio of companies that contribute to positive development of the U.N. Sustainable Development Goals within areas such as health, education, agriculture, and technology. Summa Equity has offices in Sweden and Norway. www.summaequity.com

About Mindray Medical

Mindray is a publicly listed entity on the Shenzhen Stock Exchange with a market capitalization of €70 billion. The Company is a leading developer, manufacturer, and supplier of medical device solutions and technologies used in healthcare facilities around the globe. The company empowers healthcare professionals through innovative, high-value solutions that help create the next generation of life-saving tools across three primary business segments: medical imaging, patient monitoring and life support, and in-vitro diagnostics. Mindray is based in Shenzhen, China and has additional facilities in major international markets around the world. www.mindray.com

About BDA Partners

BDA Partners is the global investment banking advisor for Asia. We are a premium provider of Asia-related advice to sophisticated clients globally, with over 20 years’ experience advising on cross-border M&A, capital raising, and financial restructuring. We provide global reach with our teams in New York and London, and true regional depth through our seven Asian offices in Mumbai, Singapore, Ho Chi Minh City, Hong Kong, Shanghai, Seoul and Tokyo. BDA has deep expertise in the Chemicals, Consumer & Retail, Health, Industrials, Services and Technology sectors. We work relentlessly to earn our clients’ trust by delivering insightful advice and outstanding outcomes.

BDA Partners has strategic partnerships with William Blair, a premier global investment banking business, and with DBJ (Development Bank of Japan), a Japanese government-owned bank with US$150bn of assets.

US securities transactions are performed by BDA Partners’ affiliate, BDA Advisors Inc., a broker-dealer registered with the Securities and Exchange Commission (SEC). BDA Advisors Inc. is a member of the Financial Industry Regulatory Authority (FINRA) and SIPC. In the UK, BDA Partners is authorised and regulated by the Financial Conduct Authority (FCA). In Hong Kong, BDA Partners (HK) Ltd. is licensed and regulated by the Securities & Futures Commission (SFC) to conduct Type 1 and Type 4 regulated activities to professional investors. www.bdapartners.com