PARIS–(BUSINESS WIRE)–Biolog-id, a global leader in the traceability and management of sensitive health products (red blood cells, plasma, platelets and chemotherapy preparations), is announcing a campaign to raise 30 million euros from Xerys Funds.
With this campaign, Biolog-id aims to exceed €200 M in turnover by 2023 and to join the clan of French unicorns — unlisted companies worth more than a billion dollars.
“We are banking on a hyper-growth strategy, announced Biolog-id’s President and Founder, Jean-Claude Mongrenier. The funds gathered will enable us to accelerate the company’s international development through its main subsidiaries — North America, Middle East and Asia — and to extend the scope of action to other regions, in particular China. The market potential that Biolog-id hopes to exploit is currently valued by experts at nearly 4 billion dollars. It should increase considerably due to strong demand from emerging countries and population ageing and growth. This additional capital should enable us to offer even greater value to our clients, both in France and abroad, by providing our solution to as many healthcare establishments as possible.”
A start-up valued at 150 million euros
This investment, made by Xerys funds, shows recognition for Biolog-id’s long-term strategic vision and the disruptive model of the Biolog-connect® solution it has developed. Today, the company is valued at 150 million euros by the strategy consulting firm Roland Berger to increase to over a billion in 2023, given its prospects for development and future results.
“Biolog-id is a future French unicorn in which we have already invested 50 million euros,” reveals Jacques Simonnet, Xerys Founder and President. “We have supported this company since it was founded in 2009. We take great pride in taking part in this new operation, which aims to multiply the company’s growth and strengthen its leading position in the traceability and management of sensitive health products. I would like to thank the Chairman for his trust and congratulate the teams for their achievement.”
How the Biolog-connect® solution works
Biolog-connect® is an IoT (internet of things) connected solution based on RFID (Radio Frequency Identification) technology. Biolog-connect® technology tells us the product’s location, temperature, storage conditions, history and characteristics in real time. Access to this essential data enables us to completely eliminate administration errors by ensuring that the right product is administered to the right patient and to check the product’s quality by guaranteeing its transport and storage conditions. The solution also enables us to make savings (ROI in less than 18 months) by improving product management, strongly reducing losses and improving the product’s journey to the patient.
Biolog-id has designed a patented smart solution to manage the transfusion chain from the donor to the receiver. Biolog-id operates in North America, Europe, the Middle East, India and the Asia-Pacific region, and has more than 100 employees worldwide. Staff numbers should double in the next three years. The Biolog-connect® solution is protected by more than 100 international patents.
Biolog-id is owned by its founder and the Xerys Funds. www.biolog-id.com
Xerys Gestion is a portfolio management company specialising in private equity, which places the enterprise vision at the heart of its investment philosophy, so as to support the management of its portfolio companies in all the steps of their growth, from venture capital to maturity. Xerys Funds invest between €10 M and €60 M in innovative companies in the healthcare, sustainable development or connected technologies sectors. www.xerys.com