SK Capital acquires majority stake in Swixx Biopharma at EUR 1.5 billion valuation
HBM Healthcare Investments, together with the founders and other shareholders such as Mérieux Equity Partners, will sell a majority of their current stake in Swixx Biopharma to SK Capital Partners, while retaining a significant minority stake. The investment by SK Capital values the company in excess of EUR 1.5 billion.
HBM Healthcare Investments, an investment company focused on the healthcare sector, has announced the signing of a binding agreement to sell a majority stake in Swixx Biopharma. Swixx Biopharma has delivered exceptional growth, with revenues rising from approximately EUR 40 million in 2017 to an expected EUR 1.3 billion in 2026.
Swixx Biopharma is one of the largest commercialization platforms representing the portfolio of pharmaceutical companies in those markets in which they choose not to enter or decide to exit. Swixx Biopharma operates across multiple countries in Central and Eastern Europe, Greece, Eurasia and several CIS countries, the Middle East and Latin America. With a presence in 45 countries, Swixx is one of the fastest-growing independent biopharma commercialization platforms. Gathering outstanding rare disease, oncology-hematology, specialty, vaccines and self-medication talent under one roof, Swixx Biopharma expects to finish 2025 with more than 1,600 employees on board. Swixx’s senior management team will remain in place, leading the company through its next phase of growth.
HBM Healthcare Investments has been a major shareholder in Swixx Biopharma since 2017, owning 25.1% of the company. HBM Healthcare Investments has invested a total of EUR 26 million in Swixx Biopharma and has so far received EUR 10.5 million in capital repayments. To date, the investment has generated an added value of around CHF 300 million — over ten times the original investment amount.
New York-based SK Capital is a private investment firm with a focus on the life sciences, specialty materials, and ingredients sectors. The firm currently has approximately $10 billion in assets under management as of December 31, 2024. After closing, SK Capital will become Swixx’s lead investor, bringing strong financial strength and healthcare expertise.
Based on the agreement with SK Capital, HBM Healthcare Investments has revalued its investment in Swixx Biopharma, resulting in an increase in the net asset value (NAV) per HBM share of approximately CHF 13.50 (+5%). Upon completion of the transaction, expected in the first half of 2026, HBM Healthcare Investments will receive a cash inflow exceeding the investment’s reported book value as of 30 September 2025. HBM Healthcare Investments will continue to hold a 25.1% stake in Swixx Healthcare, which was spun off from Swixx Biopharma in 2024.
Dr Andreas Wicki, CEO of HBM Healthcare Investments, commented: «HBM Healthcare Investments is looking forward to continuing the partnership with Swixx’s outstanding management team, its founders, and investor partners. Together, we have achieved exceptional growth and established a thriving business. We are excited to build on the strong momentum as we pursue the next phase of accelerated growth and long-term value creation for the innovation-based pharma industry.»
(Press release / SK)