Xerys injects additional $25m capital in French healthtech startup Biolog-id to boost global expansion
Xerys Invest, a private equity firm focused on health, life sciences, renewable energy and greentech, announces an additional investment of $25 million in Biolog-id, a provider of digital health solutions focused on the optimization of the value chain.
Olivier Ossipoff, President, Xerys Invest: “Xerys funds quickly saw the global potential of the Biolog-id solution.We are thrilled to witness the commercial implementation of Biolog-id's vision and, with this funding, to further drive this tremendous improvement market momentum to improve healthcare."
The commercial success of the last 24 months confirms the potential of the Biolog-id platform as well as the multidimensional value it brings to its users. Thanks to the additional funds and the continued support of Xerys Invest, Biolog-id will be able to accelerate its growth and its establishment in new segments adjacent to the health sector.
Troy L. Hilsenroth, CEO, Biolog-id: “This investment from Xerys Funds demonstrates their continued support for Biolog-id as we accelerate our business expansion, inject additional value into our solution, and optimize our platform for future growth opportunities. Our compelling solution, combined with an effective strategy and a top-tier team will leverage these new resources to capitalize on this incredible market opportunity."
Jean-Claude Mongrenier, President, Biolog-id: "With a total investment of more than $100 million, the support from the Xerys Funds will allow Biolog-id to exploit its full potential in many segments of the healthcare sector. We are well positioned to introduce our value chain optimization solution to key healthcare markets in the United States, Europe and the Middle East, which will represent a $6 annual recurring revenue opportunity. billions of dollars."