KKR Said to Mull Options for Stake in Life Sciences Firm Biotage

(Bloomberg) -- KKR & Co. is considering a sale of its stake in Swedish life sciences firm Biotage AB, people with knowledge of the matter said.

Most Read from Bloomberg

• What Initial Polling Data Show About the Trump-Harris Matchup

• Tesla Slumps as Musk Tethers Its Future to Delayed Robotaxis

• Trump Files Complaint Over Harris Getting Biden’s $96 Million War Chest

• A Six-Second Decision Shows How Harris Snapped Up Delegates

• Singapore Has World’s Most Powerful Passport After Unseating Europeans

The buyout firm is exploring options for its 17% holding in Biotage, including a potential selldown of part or all of its shares in the market, according to the people. Shares of Biotage have gained 36% in Stockholm trading this year, giving the company a market value of about $1.4 billion.

KKR owns its stake through Gamma Biosciences, a platform it set up in 2020 to make investments in life sciences tools. Biotage has separately been gauging interest from potential buyers in recent months, though far the deliberations haven’t led to a deal, the people said.

Considerations are at an early stage and KKR and Biotage could still decide against any deal, the people said. A representative for KKR declined to comment. A spokesperson for Biotage didn’t immediately respond to requests for comment.

Biotage provides technologies and solutions in the areas of genetic analysis and medicinal chemistry. It has 700 employees, serving more than 80 countries, according to its website.

Private equity firms are seeking to exit some of the health-care assets as activity picks up in the sector. CVC Capital Partners Plc is exploring options for its controlling stake in Italian drugmaker Recordati SpA, while EQT AB is considering a potential sale of Karo Healthcare in a deal that could value the Swedish consumer-health business at more than €2 billion ($2.2 billion), Bloomberg News has reported.

--With assistance from Charles Daly and Swetha Gopinath.

Most Read from Bloomberg Businessweek

• The $12,000 Harvard Class Celebrities Are Fighting to Get Into

• Airbnb Hosts Want Guests to Come to Them Directly

• The Real Reason Erewhon Is a Cult Brand

• Elon Musk Goes All In for Trump

• Why Is the US Deficit So Big? Depends on Who You Ask

©2024 Bloomberg L.P.