VC-backed NoemaLife floats

Bologna-based NoemaLife SpA (formerly Dianoema), which specializes in software for the healthcare sector, has floated on the Milan Stock Exchange with a market capitalization of €38m. The IPO was six times oversubscribed, and the money raised will be used to improve its presence in the laboratory information systems and electronic patient files sector, as well as increasing its coverage of the Italian market. The €9 share price was in the middle of the indicative price range of €7.5 to €10.5.

The VC story begins in 1999 when German firm Earlybird provided funding from its two pre-seed funds for German healthcare software developer Gesellschaft für medizinische Datenverarbeitung (GMD.) In 2000, Lion Bioscience and Wellington Partners also acquired stakes in the Munich-headquartered company. In 2002, NoemaLife bought GMD, and all the shareholders took stakes.