Serendipity refers to an unexpected discovery and has been the cause of many important discoveries in medicine. The discovery of penicillin is the most famous and possibly the most important serendipitous discovery. 

Many serendipitous discoveries take place as the discoverer has extensive background knowledge. Roentgen's initial observation was serendipitous, however, it was his consequent investigation of the anomaly that turned it into the discovery of x-ray

About

About us

SERENDIPITY PARTNERS

Serendipity Partners is a trusted discussion partner with extensive medical and scientific knowledge, combined with financial and operational experience, as well as access to the capital necessary to execute. We aim at being the partner of choice in such situations - whether the issues are related to competitive positioning, innovation, geographic expansion, acquisition-based growth or sale of your ownership in the company. We view growing a business with a conservative balance of debt and equity as the most sensible and best risk-adjusted way to create value for our partners and our investors. Our preferred partners are people who have built truly outstanding companies and want to keep building lasting value. They care and can choose their partners.  

NORDIC AND EUROPE HEALTH INVEST

Nordic and Europe Health Invest (NEHI), managed by Serendipity Partners, was established to secure a dedicated source of capital to invest within the health care area, leveraging successful long term experience in company management and sector expertise. NEHI will invest in companies that conduct the majority of their business or otherwise have a principal connection to Europe with special emphasis on the Nordics. The remainder Northern European countries will also be a focus area. NEHI has established a well-connected network of senior healthcare professionals, covering several European countries that will help to source deals in a proprietary manner. NEHI is registered by The Financial Supervisory Authority of Norway and has approximately NOK 800 million under management.

INVESTMENT APPROACH

NEHI will acquire controlling positions, but also non-majority positions in which the business can be influenced in a value creating manner (e.g., board representation or similar positions, shareholder agreements or similar agreements). The main focus will be mature cash flow positive companies, but the fund may invest up to 20% in earlier stage companies. Half of the investments can be in public companies. NEHI will target companies within a number of healthcare sectors, including pharmaceutical/nutraceuticals, diagnostics, novel products for lowering of health care spending, medical devices and healthcare providers. Deals are evaluated through a well-tested private equity framework. We seek to become partners with public and family business owners, management teams, and excellent CEOs who have as their goal significant long-term growth in their enterprise. We believe that we have assembled the culture, philosophy, tools, knowledge and skills necessary to support this growth-journey.

Value creation

Value creation

KNOWABLE AND UNDERSTANDABLE VALUE PROPOSITION

Serendipity Partners will invest in businesses where the value proposition is knowable and understandable and can be the subject of rigorous analysis. We seek to invest NOK 100-150 million of equity in each portfolio company, either in the initial transaction – or in multiple investments made over time – in established companies where the value proposition is easily understood:

  • Experienced, talented and dynamic management teams
  • Sustainable margins
  • Under-exploited strategic strength
  •  Understandable plan for achieving profitable growth

ACTIVE OWNERSHIP

We will work with management teams to make companies more valuable by asset building organically or through acquisitions. We support management pursuit of strategic initiatives through:

  • Avoiding excessive leverage, providing flexibility to institute long-term growth plans also in challenging market conditions
  • Aligning management’s interests with those of our investors through appropriate personal investment and meaningful equity incentives
  • Utilizing private debt capital structures along with our equity wherever possible

The team can help companies with specific processes such as planning of clinical studies, regulatory filing of pharmaceuticals and negotiations with distributors. It will also bring its extended, and valuable, healthcare relationships to the company.
Egil Bodd

Egil Bodd

Managing Partner, MD/PhD

Experience:

Egil Bodd is a medical doctor and holds a PhD in pharmacology from the University of Oslo, Norway. From 2006-2015, Egil was the Managing Partner of Lindsay Goldberg Nordic, the Nordic affiliate of the New York based private equity firm Lindsay Goldberg, which manages funds of USD 14 billion. The Nordic firm invested around USD 1 billion of equity across three different platform companies, including healthcare investments in drug development with several FDA filings of New Drug Applications.

From 2004-2006 Egil was the CEO of Pronova Biocare. The company was acquired from Norsk Hydro ASA by Ferd Private Equity in January 2004. The company was valued at more than NOK 7 billion in the 2007 IPO. From 1992-2003, Egil held various leadership positions in the global pharmaceutical company Merck & Co. In his last position, as Managing Director, Vice President of EMEA, more than 1,800 employees reported to him and annual sales in the region were approximately EUR 800 million. From 1986-1992 Egil was President of Medinnova, a government-owned company. Medinnova manages cooperation between the industry and the National hospital in Norway. He started the company as sole employee with a capital base of NOK 450,000 and left the company with about 100 employees on project basis and a capital base of > NOK 50 million (after dividends). In addition, Egil has held various healthcare responsibilities, including: chairman of the Norwegian Society of Pharmacology and Toxicology, chairman of the Norwegian Committee of Pharmacovigilance (reporting to the Director of Health), chairman of the Norwegian Pharmaceutical Industry Association, member of the supervisory board and chairman of the scientific committee at Lundbeck; and member of the board of the Medical Faculty at the University of Oslo (ongoing).
Wenche Rolfsen

Wenche Rolfsen

Partner, M.Sc/PhD

Experience:

Wenche Rolfsen holds a Master of Science in pharmacy and a PhD in pharmacology from Uppsala University, Sweden. Since 1980, Wenche has been actively involved in research/development and commercialization of pharmaceutical products and services. From 1996-2007, Wenche held various leadership positions in Quintiles Transnational, a global leader in pharmaceutical services, including Vice President; director of Quintiles Phase I/IIa, Europe and CEO of Quintiles Scandinavia.

From 1980 to 1996, Wenche held various manager positions, including head of Pharmacology in Pharmacia, an important global player, and one of the largest pharmaceutical companies in the Nordics at the time. From 1990 to 1999 Wenche was an adjunct professor at the pharmaceutical faculty at the University of Uppsala. Wenche has served on ~15 boards of private and public companies, including Bionor Pharma, Swedish Orphan Biovitrum AB, AkerBiomarine AS, Industrifonden, Sarsia Seed, Index Pharmaceuticals, Axis-Shield, Mölnlycke Health Care and Swedish Match.
Synne H. Røine

Synne H. Røine

Partner, M.Sc

Experience:

Synne H. Røine holds a Master degree in Business and Economics from Université des Sciences Sociales in Toulouse, France. 

Her latest position was as CFO of Colosseum Dental Group, Europe’s leading dental services provider with more than EUR 350M in revenue. The company has made over 50 acquisitions in recent years and is today the leading pan-European dentistry chain. Prior to joining Colosseum in early 2015, Synne had served as CFO of the public biotech company Bionor Pharma ASA since 2013. Bionor Pharma developed therapeutic vaccines against viral diseases especially focusing on HIV. Synne worked for Pronova BioPharma ASA from 2005 (before the IPO) to 2013 when the company was sold to BASF for NOK 5 billion through a structured auction. Synne served as Pronova’s CFO from 2009. Pronova BioPharma is a leading company within research, development and manufacture of lipid therapies derived omega-3 based pharmaceuticals with sales in over 60 countries worldwide.

Synne has broad international experience in the healthcare sector as executive manager and director in private and public companies as well as board experience from several public health care companies, including Navamedic ASA and Photocure ASA (current).

Michael Bodd

Michael Bodd

Principal, MD/PhD/MBA

Experience:

Michael Bodd is a medical doctor from the University of Oslo, Norway. He holds a PhD in Immunology from the University of Oslo (2007-2012) and an MBA from INSEAD (France and Singapore). He has a foundation in business administration from BI Norwegian business school (Oslo, Norway).

Prior to Serendipity Partners, Michael was a Vice President in Lindsay Goldberg Nordic (2015-2016), the Nordic affiliate of the New York based private equity firm Lindsay Goldberg. Prior to that, Michael was an associate at Boston Consulting Group (2013-2015), mainly working within the healthcare space (pharmaceutical industry and healthcare providers). Michael has board member experience from non-public companies.
Christopher Tangen

Christopher Tangen

Principal, M.Sc

Experience:

Christopher Tangen holds a Master of Science from Cass Business School with first distinction and a Bachelor of Science from the Norwegian School of Economics (NHH).

Prior to joining Serendipity Partners, Christopher was at Carnegie (2015-2017) in Oslo, a leading investment bank in the Nordics, focusing on advisory services within company mergers and acquisitions. From 2011-2015, Christopher worked at the European private equity group IK Invest in London, focusing on mid-market investments, including health care assets, in the Nordic region, and was actively involved in portfolio companies including board memberships. Prior to joining IK Invest, Christopher worked as an analyst at the Nordic Investment Banking Division at Merrill Lynch International in London from 2008-2011, focusing primarily on M&A advisory in the Nordic region.

Current portfolio

Oris Dental

BUSINESS DESCRIPTION

Oris Dental is the 2nd largest integrated dental platform in Norway. The platform was established in 2016, and has subsequently expanded through both organic growth and acquisitions of several dental clinics. Oris Dental operates in the high quality dental segment, providing a full range of both general dentistry and specialty services.

 

FACTS

Industry:   Dental care provider

Country:   Norway

Entry:        May 2018

CEO:          Lars Melkvik

Topro

BUSINESS DESCRIPTION

Topro Industri is one of Europe’s leading producers of products for assisted living and is the largest European manufacturer of rollators. Core markets include Norway, Germany and BeNeLux. The Company is headquartered and has its manufacturing facilities in Gjøvik, Norway with subsidiaries in the UK, Germany, and Switzerland.

 

FACTS

Industry:   Assisted living devices
Country:   Norway
Entry:        January 2018
CEO:          Rune Midtun

Evondos

BUSINESS DESCRIPTION

Founded in 2008, Evondos offers the leading automatic medicine dispensing system for homecare patients on long-term medication in Norway, Sweden, Denmark and Finland. The service improves patient medical adherence and reduces medicine dispensing errors as well as contributes to direct cost savings and increased flexibility for homecare personnel. The Company is headquartered and has its manufacturing facilities in Salo, Finland.

 

FACTS

Industry:    Assisted living devices
Country:    Finland
Entry:         December 2017
CEO:           Eetu Koski

Divestments

Biomega

BUSINESS DESCRIPTION

Founded in 2001, Biomega produces fish meal and fish oil from salmon off-cuts and guts. First batches of fish protein to human consumption. Acquired to leverage Serendipity Partners' expertise in marine nutraceuticals. The company was sold earlier than intended with satisfactory return.

 

FACTS

Industry:     Fish meal and fish oil

Country:     Norway
Entry:          February 2017
Exit:             February 2017
CEO:            Jan Arne Vevatne

Contact

Visit: Munkedamsveien 53B, 0250 OSLO
916363737