Private equity firm Investindustrial is working with banks on a possible sale of Italian laboratory diagnostics firm Lifebrain in a deal that could value the COVID-19 test supplier at more than 1 billion euros ($1.2 billion), four sources told Reuters.

Investindustrial, advised by JPMorgan and Goldman Sachs, has been approached by interested parties in recent months and could decide to launch an auction process as soon as May, according to the banking sources.

Rome-based Lifebrain focuses on routine and speciality laboratory tests, including COVID-19 ones, and operates through about 360 laboratories in Italy.

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Source: Reuters

By Stephen Jewkes, Elisa Anzolin, Arno Schuetze, Pamela Barbaglia