Novo Nordisk divests of Dako

Published: 28-Feb-2007

Denmark-based provider of systems for cancer diagnostics, Dako, is divesting of its subsidiary Dako Denmark to the private equity fund EQT V.


Denmark-based provider of systems for cancer diagnostics, Dako, is divesting of its subsidiary Dako Denmark to the private equity fund EQT V.

Dako Denmark is the sole owner of the global business activities for the Dako Group, one of the world's leading companies within cancer diagnostics. Novo Nordisk has been a shareholder since 1992 and currently owns around 27% of the capital in Dako A/S.

With more than 1,300 employees and a presence in more than 20 countries, Dako covers most of the global pathology markets. Remaining markets are covered by distributors in 50 countries. In response to an ongoing consolidation of the cancer diagnostics industry the current shareholders have concluded that a new ownership structure would be in the best long-term interest of Dako.

Jesper Brandgaard, chief financial officer, said: "As one of the main shareholders we are pleased that an attractive ownership solution has been found for Dako, which will facilitate the continued expansion of the company's business activities."

The sales agreement is subject to a number of conditions including the approval of the transaction by applicable competition authorities and the approval of the transaction by a shareholders' meeting of Dako A/S.

Novo Nordisk expects to record an income in 2007 of some DKK 1.5bn in relation to the sale of Dako Denmark A/S.

You may also like