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BYG4lab to acquire Finbiosoft, a leading software provider for medical laboratories, with the support of Keensight Capital

By March 14, 2024April 29th, 2024No Comments

Press Release | March 14, 2024

BYG4lab to acquire Finbiosoft, a leading software provider for medical laboratories, with the support of Keensight Capital

BYG4lab, a global leader in data management solutions for medical laboratories and diagnostic companies, is pleased to announce the signing of an exclusivity agreement to acquire Finbiosoft, a renowned software provider for medical laboratories, with the support of Keensight Capital, one of the leading private equity funds dedicated to pan-European Growth Buyout[1] investments.
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With its product suite dedicated to empowering laboratories to evaluate their quality efficiently and accurately, Finbiosoft perfectly complements BYG4lab’s offering, enabling access to extensive cross-selling opportunities. Additionally, this transaction also extends BYG4lab’s reach into new markets, notably in several European countries and the US, leveraging Finbiosoft’s established international client network. Moreover, the integration of Finbiosoft’s team of innovative technical experts, will further enhance BYG4lab’s technological capabilities.

Cyril Verhille, CEO of BYG4lab, commented: “This agreement marks a significant step in BYG4lab’s journey to become the global reference point in data management software for the medical biology industry. Following our recent partnership with GeodAIsics announced in January, I am proud to see BYG4lab strengthening its offering further to better serve our customers. We look forward to capitalizing on the strong base established by Akseli Virtanen and Teemu Qvick, Finbiosoft’s co-founders, who remain involved in the combined group.

Akseli Virtanen, co-founder and CEO of Finbiosoft, added: “We have provided software that enables laboratories and diagnostics companies to enhance quality and efficiency since 2011. With BYG4Lab’s footprint spanning over 4,500 labs, we truly believe in the combined proposition we have to offer. We look forward to working together with BYG4lab to continue our journey together, in the interest of our customers and to build a great future for our employees.

Gregory Agez, Partner at Keensight Capital, concluded: “We are delighted to support this acquisition by BYG4lab and partner with Finbiosoft. We are particularly excited about the geographical expansion in Europe and in the US this situation presents, which will further strengthen the group’s continued profitable growth.

[1] Growth Buyout: investment in profitable, private companies experiencing strong growth, in minority or majority positions, with or without leverage, using a flexible approach tailored to the needs of individual entrepreneurs, in order to finance organic growth projects, acquisition strategies or provide historic shareholders with liquidity.

About Keensight Capital
Keensight Capital (“Keensight”), one of the leading European Growth Buyout firms, is committed to supporting entrepreneurs as they implement their growth strategies. For over 20 years, Keensight Capital’s team of seasoned professionals has leveraged their knowledge of investment and growth industries to invest for the long term in profitable companies with high growth potential and revenues in the range of €10 million to €400 million. Drawing on its expertise in the Technology and Healthcare sectors, Keensight identifies the best investment opportunities in Europe and works closely with management teams to develop and achieve their strategic vision. Keensight Capital’s success has also earned it a Gold Award from the Private Equity Exchange & Awards each year for the last seven consecutive years, and in particular, the Best European Growth Private Equity Fund.

About BYG4lab
BYG4lab is a software company specialized in Data Management solutions in the healthcare industry. Available in 11 languages, BYG4lab’s solutions are utilised by over 4,500 laboratories worldwide. BYG4lab is the privileged partner of several companies in the IVD industry including instrument suppliers and both private and public medical laboratory networks. BYG4lab is ISO 13485: 2016 certified and follows the most demanding international recommendations in terms of the medical software development cycle (IEC 62304), cybersecurity and data privacy.

About Finbiosoft
Founded in 2011, Finbiosoft has created one of the first suite of software solutions globally, that help laboratories and diagnostics companies achieve higher quality and better efficiency in their daily operations. The tech team at Finbiosoft, known for their customer-centric approach, excels at rapidly transforming customer ideas into production-ready features while maintaining the highest quality standards. Finbiosoft’s solutions are the de facto methods for managing quality in laboratories and test manufacturers across a network spanning 16 countries. Finbiosoft is committed to aiding more organizations in transforming their workflows for the better.

Press contacts

Keensight Capital
Cindy Giraud, Communications Director – +33 (0)6 37 96 55 37

H/Advisors for Keensight Capital
UK: David Stürken – +44 (0) 799 059 5913
France: Mael Evin – +44 (0)6 44 12 14 91

Marie Serrano, Head of Communications – + 33 (0)7 57 68 11 65

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