HBM Healthcare Investments Explores Swixx Biopharma Sale
HBM Healthcare Investments AG is weighing options for its portfolio company, Swixx Biopharma SA. According to sources, a sale is among the possibilities, with a potential valuation of approximately 1.5 billion Swiss francs ($1.7 billion).
HBM has engaged Jefferies Financial Group Inc. and Centerview Partners in the review process. The health-care fund has reportedly begun soliciting interest from prospective buyers.
Although HBM favors a Swixx sale, it may consider an alternative listing. However, discussions are preliminary, and HBM may retain Swixx indefinitely.
This year has witnessed a surge in dealmaking and capital market activity. Private equity firms are initiating multiple sale processes across Europe and seeking IPOs for their portfolio companies. Additionally, major corporations are streamlining operations, such as Lonza Group AG's planned sale of its capsules unit and Nestle SA's separation of its water business.
Swixx assists pharmaceutical companies in distributing medications in smaller countries with varying labeling and packaging regulations. The Baar-based company operates in 44 countries and reported sales of €900 million ($944 million) in 2023.
Representatives from Centerview, HBM, and Jefferies declined to comment. A Swixx spokesperson was unavailable for immediate comment.
Swixx has expanded its partnerships in central and eastern Europe and recently ventured into the Middle East and Latin America. In 2021, Mérieux Equity Partners acquired a minority stake in Swixx.
Established in 2001, HBM Healthcare is a Swiss-listed investment firm specializing in private and public health care investments.