Sebia Owners Said to Hire JPMorgan to Explore $2.3 Billion Sale

  • French diagnostic equipment maker may draw private equity bids
  • Montagu and Astorg acquired the firm for $1.5 billion in 2014

Montagu Private Equity and Astorg Partners are considering a sale of French medical diagnostic equipment maker Sebia SA, which could be valued at more than 2 billion euros ($2.3 billion), people familiar with the situation said.

The company, which specializes in equipment that helps medical professionals analyze proteins to screen for diseases, may be attractive to other private equity firms, the people said, asking not to be identified because the deliberations are private. JPMorgan Chase & Co. has been hired as an adviser on the sale, one of the people said.

The sale process is at an early stage, expected to start in the next couple of months, and no final decisions have been made, the people said. Representatives for Montagu, Astorg and JPMorgan declined to comment.

The buyout firms acquired Sebia in 2014 for 1.34 billion euros from Cinven Ltd. Sebia’s equipment can be used to diagnose and monitor cancer, metabolic disorders such as diabetes and various rare diseases, the company said on its website.

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