French data management software for medical laboratories BYG4lab has received investment from private equity manager Keensight Capital. Keensight, which now owns a majority stake in the company, will support BYG4lab to further boost its data management software for laboratories by expanding into new strategic areas in Europe and North America. The new funds will also help in tackling other sectors of activities, and further diversifying its offering and reach by developing new products and partnerships.
BYG4lab develops software that enhances the efficiency of a laboratory. It offers benefits like improving workflow management, making instrument integration more efficient, handling mega lab configuration, designing personalized dashboards, maximising automatic validation, and managing quality control.
Available in 11 languages, the BYG4lab solutions are currently used by more than 4500 laboratories around the world.
Talking about the new development, Cyril Verhille, CEO of BYG4lab: “Over the past 10 years, BYG4lab has become a leading player in its niche and is now ready to accelerate its growth by activating product diversification and geographic expansion. Keensight Capital’s investment is a significant signal of this new phase of our growth. Keensight’s dual expertise in both technology and healthcare and its capacity to help us expand internationally will be great assets to bring the company to the next level.”
Gregory Agez, partner at Keensight Capital added: “We identified BYG4lab as a leading player in the health tech space and have been impressed by its unique position in a market with strong value creation potential.”