General Atlantic sells German lab firm Amedes to French fund Antin: Reuters

(Reuters) – Buyout group General Atlantic will sell its majority stake in German laboratory services company Amedes Holding AG to Antin Infrastructure Partners, a specialized fund, the companies said in a statement.

Financial details of the transaction were not disclosed.

Hamburg-based Amedes has 3,500 employees, 35 laboratories and 27 medical practices across Germany and Belgium.

General Atlantic tried to sell Amedes in 2014 but failed to attract bidders prepared to meet its asking price of 700 million euros ($778 million), or roughly nine times its annual core earnings, Reuters reported previously.