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Report: 5 PE firms submit 1st-round bids for CapVest's Curium Pharma

CapVest Partners LLP received initial bids for Paris-based Curium SAS from private equity firms CVC Capital Partners Ltd., Bain Capital LP, Clayton Dubilier & Rice LLC, Nordic Capital and PAI Partners, Bloomberg News reported, citing people familiar with the matter.

CapVest initiated a bidding process for the sale of Curium in November 2019. The nuclear medicine materials business is expected to sell for at least $3 billion, according to the people, who added that the next round of bids are expected in February.

Representatives for CapVest, CVC, Bain, Nordic Capital and PAI declined to comment, while Clayton Dubilier & Rice did not immediately respond to Bloomberg's request for comment.

Curium manufactures medical imaging supplies and provides materials used in nuclear medicine to help diagnose cancer as well as heart, brain and bone diseases.