PortfoLion has  just announced its first successful exit that means the first success story of the  JEREMIE I. (Joint European Resources for Micro to Medium Enterprises)  program by selling Cryo Management Ltd. to Vitrolife

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Vitrolife has entered into an agreement to acquire the Hungarian Cryo Management Ltd, one of the world’s leading players within time-lapse for IVF, developer of Primo Vision time-lapse embryo monitoring system. Through the acquisition Vitrolife gains access to a product portfolio in the form of successful time-lapse products for IVF and increased knowledge within IVF technology and embryo development. Vitrolife has entered into an agreement to acquire 100% ownership in Cryo Management Ltd by September 2012.
“Cryo Innovation and Vitrolife share the values and the desire to create results for the customer in the form of greater chances of pregnancy by providing the best possible quality and technology.  The companies have the same customers in the form of embryologists and gynecologists, which creates synergy gains in the sales area.  Through its state-of-the-art knowledge within embryology, image processing and optics Cryo Innovation has successfully developed a world-leading product portfolio within time-lapse. By combining Vitrolife’s media and Cryo Innovation’s time-lapse system we assess that there are good opportunities to offer improved treatment results for our customers. We are impressed by the drive and competence in Cryo Innovation’s organization. The areas of technology provided by the acquisition will be of great importance for future development within Vitrolife,” says CEO Thomas Axelsson.

As a result of the successful acquiring PortfoLion is the first VC of the JEREMIE program in Hungary with successful exit that worths 3-4 times more than the initial investment.

PortfoLion  Venture Capital Fund Management Company (PortfoLion Kockázati Tőkealap-kezelő Zrt.) was established in 2010 as a member of the OTP Group.

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