Healthcare specialist Apposite Capital has made an initial investment of €7m in NIMGenetics, a genetic diagnostic laboratory based in Spain.

NIMGenetics was created in 2008 and currently serves more than 500 medical centres and around 1,500 clinicians, mainly in Spain and Latin America.

Apposite’s investment will enable NIMGenetics to further develop its service offering as well as support its international expansion, particularly in Latin America.

The global genetic testing market is one of the fastest growing areas in healthcare and is poised to grow by more than ten per cent every year in the next decade to reach approximately $10.3bn by 2025.

Last year the company’s revenue grew by 34 per cent.

NIM Genetics is the third investment from Apposite Healthcare Fund II.

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