Novo A/S, the private limited liability company owned by Novo Nordisk Foundation, is in the process of building a giant investment group which will be used to buy companies within the fields of bio- and medical technology. CEO Eivind Kolding is explicitly creating this department which will specialize in major acquisitions and be able to invest up to ten billion Danish crowns yearly.
“We have decided to build up a business unit for large investments where we can make individual acquisitions for up to ten billion a year,” Kolding explains, in an interview with Berlingske Business.
Kolding commends the ‘Nordic perspective’ which Novo adopts concerning large investments and appears optimistic about the company’s future prospects with this new, focused team on board. The rather recently appointed CEO has already celebrated the first major acquisition under his direction, of medical subcontractor, Sonion, which specializes specifically in hearing aids – a business rumoured to be worth up to four billion Danish crowns.
New Sights for Novo
A truly cosmopolitan company, working from Copenhagen, London and Sand Francisco, Novo A/S provides development stage startups with seed and venture capital and also adopts several ownership positions in more established companies, with interests primarily in the fields of life science and biotechnology.
The company is acclaimed for holding global healthcare business Novo Nordisk, with more than 25 percent of the shares. With this new investment group, Kolding aims to buy companies in the realms of pharmaceutical, biotechnology and medical technology, not simply in the Nordic Region but in the whole of Europe. Through buying companies in Germany, Switzerland and England, the firm hopes to achieve their aim of making ten billion crown acquisitions each year and widening their role in the market. With a wealth of 200 billion Danish crowns and 20 billion in the bank, money shouldn’t be an issue for this firm. In the event that larger business opportunities occur, Novo A/S is capable of investing up to thirty billion, but in combination with other investors.
Check out the article by NewsOresund for further reading on Novo’s future.