Advent Weighs Options Including $1.5 Billion BioDuro Sale

(Bloomberg) -- Buyout firm Advent International is considering options for its health-care company BioDuro-Sundia including a sale that could give the asset a value of at least $1.5 billion, according to people familiar with the matter.

Other options being evaluated with financial advisers include an initial public offering in China, the people said, asking not to be identified because the matter is confidential. Private equity firms and industry players could be interested in acquiring the drug research, development and manufacturing business, they said. A sale could even value BioDuro-Sundia at more than $2 billion, two of the people said. 

Considerations are preliminary and the owners could still decide to keep the asset for longer, the people said. A representative for Advent declined to comment.

Advent bought a majority stake in BioDuro in 2019 and merged it with closely held rival Sundia the following year. The San Diego-headquartered firm also counts Bridgewest Business Group as a backer.

BioDuro-Sundia provides large biopharmaceutical companies with services including drug discovery, development and manufacturing, according to a recent press release. It has more than 2,000 employees in 10 sites including in China and in the U.S.

Advent has invested $58 billion in over 380 private equity investments across 42 countries since its founding in 1984, its website shows. It has completed 50 health-care investments in 17 countries.

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With assistance from Bloomberg