HyTest

Delivering antibodies and antigens for the IVD industry to improve patient outcomes

Company details

Year Aquired

2018

Location

Turku, Finland

Revenue (2019)

299 mSEK

Sector

In-vitro diagnostics

Employees

118

Investment Themes

Changing Demographics

Contact

If you want to know more about HyTest please contact Tommi Unkuri at: tommi.unkuri@summaequity.com

HyTest is an international company with headquarters in Finland that develops and produces antibodies and antigens for the IVD industry. The products are used as key components of various laboratory assays and kits.

The company operates in a global market where growth is driven by an ageing population, innovation and increasing investments in medical care. HyTest has gained a market leading position in several key market segments, based on superior quality, strong R&D and continuous innovation.

 

Key developments in 2019

During 2019 HyTest achieved a 10% year-on-year revenue growth, mainly driven by the continuous strong performance in China. Adjusted EBITDA margin was 51% and the company continued to generate strong cash flow.

HyTest has during 2019 strengthened its presence in China by establishing a new application center and hired a head of commercial operations in the U.S. with sole focus on the North American market.

Impact Dimensions

The challenges we face

Aging population, advances in research and technology, and the global trend of increased investments in medical care and wellness drive the need for high-quality antibodies and antigens, which are key components in various laboratory assays and diagnostic kits. In a world suffering from a global pandemic, testing for critical conditions has become increasingly important.

%
Of all deaths from cardiovascular diseases are due to heart attacks or strokes
%
of chest pain cases are due to acute myocardial infarction (AMI)

 

What is the outcome?

Through HyTest’s products, focus on R&D and product development, the company enables high-quality IVD testing that is improving health and clinical outcomes for millions of patients globally.

 

Who are the stakeholders?

HyTest produces antibodies and antigens for various IVD instrument companies globally, which enable accurate testing for millions of patients worldwide. HyTest products are used in developed and developing countries and cover multiple disease groups. Lately, some of HyTest’s products have been critical in the testing of Covid-19 patients in many countries.

 

How big is the effect, and does it last?

Throughout 2019, HyTest provided antibodies and antigens for IVD-tests run on over 300 million patients globally. The company’s products cover 20 disease groups and are sold mainly in China, Europe and America. By broadening the company’s footprint, HyTest can increase its impact further.

 

If HyTest didn’t exist…

Without HyTest’s world-class antibodies and antigens, the quality and accuracy of IVD tests could not be as good, meaning less positive health and patient outcomes.

 

Impact risk: what can go wrong?

Good IVD tests are dependent on the quality of (e.g.) antibodies and antigens from HyTest. Hence, HyTest's products are mission-critical for patients and thus quality requirements are very high and absolute. Therefore, quality is a business enabler, but there is also a risk if the company should fall short on quality, as customers would not be able to use the products in such a scenario.

Year Aquired

2018

Revenue (2019)

299 mSEK

Employees

118

Investment Themes

Changing Demographics

Sector

In-vitro diagnostics

Location

Turku, Finland

Contact

If you want to know more about HyTest please contact Tommi Unkuri at: tommi.unkuri@summaequity.com

Website

Video

SDG Alignment
SDG Wheel
SDG 3
KPI reporting
SDG 8

REVENUE (SEKm)

2019
+10%
299
2018
272
SDG 3

EST. NO. OF PATIENTS TESTED, INFECTIOUS DISEASES

2019
-27%
36m
2018
50m
SDG 3

EST. NO. OF PATIENTS TESTED, Cardio Vascular Diseases

2019
-14%
219m
2018
254m
SDG 3

EST. NO. OF PATIENTSTESTED, INFLAMMATION

2019
+98%
48m
2018
24m

Learn more about HyTest

Summa Equity acquires Finnish antibody manufacturer HyTest

Summa Equity will become majority shareholder of the Finnish company HyTest, producer of antibodies and antigens for the diagnostic industry. The growing company operates in a global market where growth is driven by an aging population, innovation and increasing investments in medical care. The investment is Summa Equity’s first in the Finnish market.   ”Antibodies…

Read the story

Summa Equity acquires Finnish antibody manufacturer HyTest

Summa Equity will become majority shareholder of the Finnish company HyTest, producer of antibodies and antigens for the diagnostic industry. The growing company operates in a global market where growth is driven by an aging population, innovation and increasing investments in medical care. The investment is Summa Equity’s first in the Finnish market.   ”Antibodies...
Learn more