Thomas Strüngmann
Thomas Strüngmann (born 1950) is a German businessman who founded generic drug maker Hexal AG ($1.6 billion sales during 2004) in 1986.
Career[edit]
In 2004, Strüngmann and his twin brother Andreas – through their Santo Holding – acquired a share of 89.6 percent in Südwestbank from DZ Bank. In 2017, they sold the bank for an undisclosed price to BAWAG.[1]
In 2005, the Strüngmann brothers sold Hexal to Novartis for $6.7 billion.[2] After the sale, he joined Novartis subsidiary Sandoz as head of regional operations in Germany, the Americas and the Middle East, reporting to Sandoz's chief executive, Andreas Rummelt.[3]
In 2008, the Strüngmann brothers – through their asset management firm Athos – agreed to underwrite 25 percent of a capital increase at Conergy.[4]
Also in 2008, the Strüngmann brothers supported BioNTech with a €136.5 million seed investment in a €150 million round that enabled the founding of the company.[5] They earned $8 billion on their stake in BioNTech.[6] They own approximately 50 percent of the company as well as significant ownership in 4SC and Immatics.[7] He currently has the largest health-care earned fortune with his brother.[8]
In 2014, the Strüngmann brothers' Santo Holding and EQT Partners purchased Siemens Audiology Solutions from Siemens for €2.2 billion, leading the latter to abandon plans for an initial public offering.[9]
The brothers operate out of a family office, Athos Service. [2]
See also[edit]
References[edit]
- ^ Shadia Nasralla (17 July 2017),Austria's BAWAG PSK buys Germany's Suedwestbank Reuters.
- ^ a b Manskar, Noah (2020-11-13). "COVID-19 vaccine hopes have made these twins $8 billion richer". New York Post. Retrieved 2021-07-13.
- ^ Heather Timmons and Tom Wright (22 February 2005), Novartis to Buy Two Makers of Generics New York Times.
- ^ Nicola Leske (20 February 2008), Conergy gets investor support for cap hike -paper Reuters.
- ^ Denise Roland (15 May 2023), ‘Biotech is the ultimate impact investment’ — family offices can’t get enough of it Financial Times.
- ^ Stupples, Benjamin (November 13, 2020). "Brothers Build $22 Billion Fortune on Hope for Covid-19 Vaccine". Bloomberg.
- ^ Manskar, Noah (2020-11-13). "COVID-19 vaccine hopes have made these twins $8 billion richer". New York Post. Retrieved 2021-07-13.
- ^ "Bloomberg Billionaires Index". Bloomberg.
- ^ Christopher Hughes and Olaf Storbeck (25 November 2014), SIG Deal Shows Private Equity’s Desire for Big Leveraged Buyouts in Europe New York Times.
External links[edit]
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