Exponent announces that it has reached an agreement to sell BBI Healthcare (BBIH) or the ‘Business’, the international provider of differentiated self-care products serving Women’s Health, Diabetes and Energy Management markets, from BBI Group to Venture Life Group plc (Venture Life), a leader in developing, manufacturing and commercialising products for the international self-care market.
BBIH is a division of BBI Group, a diagnostics-focused business acquired by Exponent from Alere in 2015. BBIH has a brand presence in over 80% of major UK retailers. Its key brands are Balance Activ, the UK’s number one treatment gel and pessary for symptoms of Bacterial Vaginosis (‘BV’); GlucoGel, the leading treatment in the UK for Hypoglycaemia; and LIFT, natural energy chew and juice shots for Diabetes and Energy Management.
During its ownership, Exponent has transformed BBIH into a high-growth, standalone operation. Over the last five years, BBIH has rebranded its product portfolio, overseen a number of product and market launches, including the recent launch online in the UK and US, and invested in a significant capacity expansion project to its Swedish manufacturing facility. These initiatives have delivered a 43% EBITDA CAGR between 2018 and 2020.
BBIH Managing Director Claus Egstrand will be leaving the company following completion of the transaction. BBIH Chairman Jean Forcione will remain a Director of BBI Group.
James Gunton, Partner at Exponent, said: “A lot has been achieved during our ownership of BBIH transforming it into a high margin, fast growing business which is well positioned to capitalise on the opportunities relating to its market leading products and continued online expansion. I have great confidence that the business, under its new owners Venture Life, will continue on its successful path.”
Jean Forcione, Chairman of BBIH, said: “I am proud of how far the business has come in the past five years and I’d like to thank Claus for the fantastic contribution he has made to that success since joining us in 2018. I am excited about the opportunities that lie ahead for our talented team as part of Venture Life. This is a great fit for our colleagues and our brands going forward.”
Mario Gualano, Group CEO of BBI Group, said: “BBIH has been a really successful part of the BBI Group, and its market leading products and recent expansion means it has a bright future as part of Venture Life. I wish our BBIH colleagues all the best as they move to the next phase of the journey under new ownership.”