Smile Invest announces today that it acquires a majority stake in Rovers Medical Devices (“Rovers”), global market leader in development and production of medical cell-sampling devices. The investment will facilitate the next phase of growth of the company with a focus on product development and leveraging the company’s global sales capabilities.
Rovers is a market leader in the development and production of medical devices used for cytological analysis, bacteriological-, HPV-, viral- and DNA testing. The devices are mainly used for screening of cervical cancer. From its headquarters and production facility in Oss, the Netherlands, Rovers supplies customers in over 50 countries worldwide. Its devices have been used to screen over half a billion women.
CEO and shareholder Meindert Zwart positioned the company as a key player in the market for medical cell-sampling devices. Rovers’ devices have consistently obtained excellent reviews in medical journals and are used together with testing kits from major medical technology companies. With its state-of-the-art production facilities Rovers is able to supply its customers globally while adhering to local regulatory requirements.
Meindert Zwart will stay on board and will reinvest alongside Smile Invest: “The arrival of Smile Invest as new investor offers us the possibility to strengthen our current market position and prepare the organization for further growth. Smile Invest’s expertise in the healthcare sector and access to successful medtech entrepreneurs is of huge value to Rovers.”
Ivo Vincente and Thomas Dewever, managing partners at Smile Invest add: “Rovers Medical Devices has positioned itself as a reference in its market. With the development of new self-sampling devices Rovers is able to tap into a promising market opportunity. Over 40% of women in developed countries are still not regularly being tested for cervical cancer. Rovers can play an important role in lowering the hurdle for screening in developed markets and could also provide medical professionals with tools to bring these tests to developing countries. We look forward to supporting Rovers in a new phase of growth.”
About Smile Invest:
Smile Invest is a European evergreen investment fund with €350 million of assets under management and a long term focus on innovative growth companies in the Benelux financed by around 40 entrepreneurial families. From its offices in Leuven and The Hague the team supports entrepreneurs and management to realise their growth plans based on many years of experience, expertise and an extended network.
Contact:
NL: Ivo Vincente, managing partner Smile Invest – ivo.vincente@smile-invest.com +31 70 76 30 151
Be: Thomas Dewever, managing partner Smile Invest – thomas.dewever@smile-invest.com +32 16 24 42 32
