Acquisition of SD Bio for 2 trillion won by a US medical device company

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SD Biosensor, a domestic in vitro diagnostics company, has partnered with SJL Partners, a private equity fund (PEF) manager, to acquire a US diagnostic device company for about 2 trillion won. It is interpreted that the SD biosensor, which grew rapidly during the COVID-19 pandemic, started M&A with global companies to continue its growth even after the pandemic.

According to the investment banking (IB) industry on the 7th, SD Biosensor formed a consortium with SJL Partners to acquire a US diagnostic device company for about 2 trillion won. The company is known to be a mid-sized company listed on the US stock exchange. With the acquisition of this company, SD biosensor is expected to advance into the US, the world’s largest in vitro diagnostic market.

SD Biosensor is a company famous for its rapid antigen diagnostic kit for COVID-19. It has overtaken global pharmaceutical company Abbott and Korean company Seegene to occupy the top spot in global sales. SD Biosensor was founded in 1999 by Cho Young-sik, chairman of SD Biosensor, a graduate of Seoul National University with a doctorate in veterinary medicine. SD Biosensor hit a jackpot by rapidly developing and selling diagnostic kits during the COVID-19 pandemic. This diagnostic kit received emergency use approval from the World Health Organization (WHO) for the first time in the world in September 2020 and is currently being exported to most countries around the world.

The sales of SD biosensors surged from 72.9 billion won in 2019 before the COVID-19 pandemic to 2.929.9 trillion won last year. During the same period, operating profit increased more than 900 times from 1.5 billion won to 1.36 trillion won. Thanks to such growth, it was listed on the stock market in July last year. Based on the closing price on the 7th, the market cap is 4.56 trillion won.

Reporter Chaeyeon Kim [email protected]

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