The Danish medical device company Ferrosan Medical Devices Group A/S (FeMD) will now get both the Lundbeck Foundation and ATP as owners, each with a 30% stake. At the same time, Kirk Kapital is increasing its ownership stake in FeMD, a world leader in haemostatic devices, from 30% to 40%.

The selling shareholders are the investment company Impilo (52%) and other private investors (18%).

Kirk Kapital has been the driving force behind the establishment of the consortium, which includes the Lundbeck Foundation and ATP, and Kirk Kapital’s CEO Kim Gulstad is pleased to welcome them on board as owners.

“Kirk Kapital has been a 30% shareholder in FeMD since 2016, which has enabled me to follow the company’s strong development closely for a number of years. I am convinced that FeMD has an exciting future ahead of it, with the company continuing to develop advanced medical devices capable of helping even more patients in the years to come. I am therefore delighted that Kirk Kapital is now increasing its shareholding in FeMD and that we have been able to attract such skilled and prominent co-shareholders,” says Kim Gulstad, CEO of Kirk Kapital.

Since 1947, FeMD has developed and manufactured surgical haemostatic devices for use by healthcare professionals. In this context, FeMD has a global partnership agreement with US-based Ethicon, Inc. (part of Johnson & Johnson), which is responsible for sales and marketing of FMD’s haemostatic devices in more than 100 countries. In addition, FeMD develops and produces handheld biopsy devices, used in the diagnosis of breast cancer. These are developed and distributed in collaboration with a global partner. The Danish medical device company has around  350 employees and production facilities in Søborg in Denmark and Szczecin in Poland. In 2021, FeMD had revenues totalling DKK 720 million and an EBITDA of DKK 281 million, and has recorded annual revenue growth of 14% over the past 10 years. In 2010, FeMD was established as an independent legal entity. Prior to that, FeMD had been part of the Ferrosan A/S group, which until 1995 was owned by Novo Nordisk A/S.

The new ownership wants to invest further in both production capacity and FeMD’s medical device development pipeline.

“At the Lundbeck Foundation, we are delighted to become part of the ownership group for FeMD, which we consider to be a well-run company that complements perfectly our portfolio of companies, all of which have strong development potential. As a commercial foundation, we work with a long- term perspective and want to create value that develops FeMD both commercially and financially, while strengthening the Danish healthcare industry,” says Arne Due-Hansen, Head of Strategic Investments at the Lundbeck Foundation.

The Danish pension fund, ATP, is also pleased to be joining the ownership group.

“FeMD aligns perfectly with the standard we have set for investments through ATP Long-Term Danish Capital. We are delighted that we will become long-term owners of a company that creates immense value in Denmark and globally. FeMD is a market leader and there is still potential for development and growth that can generate a good risk-adjusted return for ATP’s members. I look forward to working with Kirk Kapital and the Lundbeck Foundation and to playing an active role in FeMD’s future,” says Anja Bach Eriksson, Director, ATP Long-Term Danish Capital.

Rasmus Hother le Fevre will continue as CEO of FeMD.

“I am pleased to welcome Kirk Kapital, the Lundbeck Foundation and ATP as the new owners of FeMD. Together with the other members of the management team and our employees, I look forward to realising the long-term potential of FeMD for the benefit of patients who require bleeding control during surgery. Finally, I would like to take this opportunity to thank Impilo and the other shareholders for their support and encouragement of FeMD over the past few years,” says Rasmus Hother le Fevre, CEO of FeMD.

The transaction is subject to customary regulatory approvals.

Contact details

Morten Huse EikremJeppesen, PressConnect for Kirk Kapital, +45 53 85 07 70
Jesper Sloth Møller, The Lundbeck Foundation, +45 22 33 86 01
Trine Fruergaard, ATP, +45 28 97 92 30
Morten Rytter Kure, FeMD, +45 25 62 76 34

About Ferrosan Medical Devices

FeMD develops and manufactures surgical haemostatic devices for use by healthcare professionals. The products are sold and marketed under a global partnership agreement with Ethicon, Inc. (part of Johnson & Johnson). In addition, FeMD develops and produces handheld biopsy devices, used in the diagnosis of breast cancer. These are developed and distributed in collaboration with a global partner. FeMD has around 350 employees and production facilities in Søborg in Denmark and Szczecin in Poland.

About Kirk Kapital

Kirk Kapital is a family-owned investment company owned by the Kirk Johansen family. The Kirk Johansen family are descendants of Ole Kirk Christiansen, who established LEGO. Kirk Kapital manages approx. DKK 14 billion in AUM invested within strategic investments and financial investments. Within the strategic investments, Kirk Kapital is an active long-term owner with larger minority positions in 15 companies. See

About the Lundbeck Foundation

The Lundbeck Foundation is a commercial foundation encompassing a comprehensive range of commercial and philanthropic activities all united by its strong purpose: Bringing Discoveries to Lives. The Foundation is the longterm and engaged owner of several international pharmaceutical and healthcare companies Lundbeck, Falck and ALK and an active investor in the financial markets, in Danish biotech companies and in Danish research, which is supported through philanthropic grants to health science talents and research programmes at Danish universities. The Foundation’s grants amount to more than DKK 500 million annually and primarily focus on the brain. This includes the world’s largest personal prize for neuroscience research: The Brain Prize.

About ATP LongTerm Danish Capital

ATP LongTerm Danish Capital is an investment initiative designed to create high returns, growth and Danish jobs by contributing to the longterm development of multiple competitive advantages in the Danish business community. The ATP Group is Denmark’s largest pension company and processing business. ATP performs tasks for almost all citizens and companies in Denmark. With pension assets of DKK 733 billion, ATP is also one of Europe’s largest pension companies.



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