Fiat Heirs Move into Healthcare with EUR 833 Million Investment in Institut Mérieux

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Exor, led by Fiat brand heirs the Agnelli family, has signed a partnership agreement for an investment of EUR 833 million in the also family-owned French holding, Institut Mérieux, known for its diagnostic arm, BioMérieux.

Under the new partnership, Exor will acquire a 10% shareholding in Institut Mérieux by way of a reserved capital increase. According to the French group, founded 125 years ago and based in the country’s second-largest city, Lyon, the deal with Exor will provide resources to further support the growth while maintaining their independence.

“The support of Exor, a renowned and prestigious international group, will allow us to further invest in the development of each of our businesses while preserving their independence. We will work and evaluate development opportunities that will enable us to continue to serve global public health in the long term,” said Alexandre Mérieux, vice president of Institut Mérieux, in a press release.

The Institut Mérieux group’s five companies, which include BioMérieux, a medical diagnostics leader present in 45 countries; Advanced Bioscience Laboratories (ABL), a contact research and manufacturing company, and Transgene, an immunotherapies biotech, achieved EUR 4 billion in turnover last year, with 93 percent of that coming from outside of France.

The Angelli family-run group, Exor, has a net asset value of some EUR 26 billion and as the largest stakeholder in Ferrari, the holding is well-known for its stake in the automobile industry. But this is not the first time Exor looks beyond cars, with activities spanning from luxury goods to football teams, the holding has a diverse portfolio.


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