Tag Archives: healthcare

BlueEarth completes inaugural private credit investment in Healthcare with Namibian Hospital partnership

Blue Earth Capital

Blue Earth Capital (“BlueEarth”), a global specialist impact investor, today announces an $ 11 million private credit commitment to Rhino Park Holdings (Proprietary) Limited (“Rhino Park”), a leading multi-disciplinary private hospital in Namibia specializing in maternity and neonatal healthcare.

The investment marks BlueEarth’s first private credit investment in the healthcare sector, and the issuance of its second sustainability-linked loan. BlueEarth’s investment supports the acquisition of the hospital by Salt Capital, a Southern Africa focused private equity investment manager. The funding will work to catalyze Rhino Park’s ambitious expansion plans, including the development of a best-in-class operating theatre for more advanced surgical procedures, an innovative primary healthcare center, and new MRI imaging facilities.

The maternal mortality rate is one of Namibia’s most pressing healthcare concerns, ranking second highest among upper-middle-income countries globally.13  In addition, neonatal disorders are a leading cause of premature death in Namibia, with 32% of under-five deaths occurring in the first month of life.14 As Namibia’s second-largest private hospital with a world-class obstetrics department – the nation’s largest – Rhino Park is at the forefront of addressing these critical healthcare challenges in the country.

Beyond immediate patient care, Rhino Park demonstrates its commitment to furthering the nation’s healthcare development by offering nursing student placement programs and providing study loans to its nursing staff. This further upskills workers, ensuring continuity to Namibia’s ability to produce an adequate supply of skilled domestic health workers.

These factors, combined with the sustainability and impact-linked characteristics of the facility, (BlueEarth’s second such loan), work to ensure full alignment with BlueEarth’s dual mission of generating compelling social impact alongside financial returns, and represents a significant step in advancing healthcare accessibility and quality in Southern Africa.

Amy Wang, Head of Private Credit at BlueEarth, comments: “This partnership with Salt Capital represents a wonderful opportunity to transform healthcare delivery in Namibia. By investing into Rhino Park’s growth, we are not just expanding a leading medical center but also helping to build a healthier future for Namibians. We hope that this investment will help provide high-quality healthcare to an increasing number of patients and support the steady improvement of overall health outcomes. Healthcare has long been a priority vertical impact at Blue Earth Capital, and we are very excited to complete our investment alongside these trusted partners. We are also particularly proud to continue driving forward the practice of linking impact with financial return with our second sustainability-linked loan.”

Martin van Niekerk, CEO of Rhino Park, comments: “We are thrilled for the support received from BlueEarth, which will allow us to embark on an ambitious expansion plan that will significantly enhance our healthcare offerings. This funding will allow us to expand our facilities, invest in advanced medical technologies, and increase our capacity to serve our community. Our commitment to providing exceptional, caring, dignified, and affordable patient care to the people of Namibia remains unwavering, and this expansion will position us to better meet the growing needs of our patients and families in the years to come.’’

Jan Bosch, Managing Partner at Salt Capital, comments: “Today marks an exciting milestone for our firm as we close this transaction, bringing together a shared vision and complementary strengths of Salt Capital and the management team of Rhino Park hospital to create lasting value. This achievement is a testament to the hard work and dedication of our team, our partners, and all those who contributed to making this deal possible. We extend our sincere gratitude to our debt funding partners, Blue Earth Capital, for their invaluable support and confidence, which played a crucial role in bringing this vision to life. We look forward to supporting Rhino Park to continue on its journey of growth and service to the community and are confident in our ability to drive meaningful impact and deliver strong returns for all our stakeholders.’’

 -END-

 Note to editors

About Blue Earth Capital
Blue Earth Capital is a global, independent, specialist impact investor, headquartered in Switzerland, with operations in New York, London, and Konstanz. Blue Earth Capital seeks to address the world’s most pressing social and environmental challenges by delivering measurable impact alongside aiming for attractive and market-rate financial returns. The company operates dedicated private equity, private credit, and fund solutions as well as separately managed accounts. Blue Earth Capital is owned by the Blue Earth Foundation, a Stiftung (charity/trust) registered in Switzerland that focuses on deep impact to support initiatives and business ventures to help deliver a more equitable and sustainable future.

About Rhino Park
Rhino Park is a leading multi-disciplinary private hospital in Namibia with a specialty in maternity and neonatal healthcare. Founded over 30 years ago in 1994, the hospital started out as a day hospital and has since grown to become the joint second largest private hospital in the country with the largest obstetrics department in the country, whilst also being the first hospital to have established one of only two pediatric ICUs in Namibia.

About Salt Capital
Founded in 2012, Salt Capital is a private equity fund manager focused on SME growth capital investments in the sub-Saharan Africa. Based in London and Johannesburg, Salt Capital’s four Partners have built a track record of successful private equity investments with a core focus on the African consumer.

 

Blue Earth Capital media contact:
Kekst CNC
Blueearthcapital@kekstcnc.com

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EQT Life Sciences leads €54 Million Series A Financing of ATB Therapeutics

EQT Life Science

Proceeds will fund clinical development of oncology and immunology therapeutics derived from innovative antibody payload platform

Mark Throsby, industry veteran and former CSO of Merus, joins as Executive Chair

 

EQT Life Sciences is pleased to announce that its LSP 7 fund has invested in ATB Therapeutics. The €54 million Series A funding round is aimed at accelerating the clinical development of a groundbreaking therapeutic antibody pipeline derived from its proprietary ATBioFarm platform. The financing was co-led by EQT Life Sciences and MRL Ventures Fund (MRLV, a corporate venture arm of Merck & Co., Inc., Rahway, N.J., USA) alongside contributions from V-Bio, VIVES Partners, the Belgian sovereign fund SFPIM, Wallonie Entreprendre, Sambrinvest, and existing investors.

ATB Therapeutics is dedicated to pioneering first-in-class biologics that incorporate novel cell-killing mechanisms, including enzymatic functionalities, within targeted antibodies. These rapidly produced antibodies combine multiple targeting and killing domains, enhancing their effectiveness and safety compared to traditional conjugates. The ATBioFarm technology facilitates the scalable, single-step production of these sophisticated biologics, promising significant advancements across various therapeutic applications.

The investment will enable ATB to expand and enhance the ATBioFarm platform, as well as to accelerate development of its unique weaponized antibodies for oncology and immunology applications. ATB’s research and development operations will be extended to Ghent and will continue in Marche-en-Famenne, where the Company is setting up a cutting-edge pilot manufacturing facility.

In conjunction with this funding, Mark Throsby has been appointed ATB’s Executive Chairman. Mark is an industry veteran and the former Chief Scientific Officer of Merus, where he was instrumental in the development of the bispecific antibody therapeutics. With his wealth of experience and expertise in antibody development, Mark further strengthens the Company’s leadership, as ATB embarks on this pivotal phase of growth. The Company is also welcoming seasoned biotech investors John de Koning, Partner at EQT, and Karin Kleinhans, Partner at MRLV, to its Board of Directors.

“Our successful financing round demonstrates the strong potential of the ATBioFarm platform and the confidence prominent international investors have in our vision,” stated Bertrand Magy, CEO and co-founder of ATB Therapeutics. “We are grateful to our investors and the Région Wallonne for their unwavering support. This funding will enable us to bolster our team, expand our operations, and advance our mission to deliver transformative therapies to patients worldwide.”

Mark Throsby expressed his enthusiasm for this new role, stating, “I am particularly impressed by the ATBioFarm platform’s capability to swiftly generate a diverse array of candidate molecules with unique cytotoxic and targeting features. This innovative approach addresses critical challenges in selecting ADC drug candidates and opens avenues for new mechanisms of action that fulfill unmet clinical needs. I look forward to collaborating with the ATB team to bring this vision to reality.”

“The founders of ATB Therapeutics have demonstrated remarkable entrepreneurial vision by establishing a proprietary drug discovery, development, and manufacturing platform from the ground up,” remarked John de Koning, Partner at EQT. “The platform’s ability to manufacture antibodies from a single expression construct that integrates both targeting and direct cytotoxic functions is truly exceptional, positioning ATB as a prospective leader in the next generation of biopharmaceuticals.”

Contact
EQT Press Office, press@eqtpartners.com

 

About

About EQT
EQT is a purpose-driven global investment organization with EUR 246 billion in total assets under management (EUR 134 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, X, YouTube and Instagram

About EQT Life Sciences
EQT Life Sciences was formed in 2022 following an integration of LSP, a leading European life sciences and healthcare venture capital firm, into the EQT platform. As LSP, the firm raised over EUR 3.0 billion (USD 3.5 billion) and supported the growth of more than 150 companies since it started to invest over 30 years ago. With a dedicated team of highly experienced investment professionals, coming from backgrounds in medicine, science, business, and finance, EQT Life Sciences backs the smartest inventors who have ideas that could truly make a difference for patients.

About ATB Therapeutics
Founded in 2018, ATB Therapeutics is a pioneering biotechnology company based in Marche-en-Famenne, Belgium, dedicated to the discovery and development of novel antibody therapies. Leveraging a proprietary technology platform based on plant molecular farming, ATB Therapeutics aims to deliver targeted solutions to high unmet medical needs, including oncology and autoimmune diseases, through innovative, next-generation of weaponized antibody treatments.

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Carisma Therapeutics Presents Promising New Preclinical Data on Engineered Macrophages for the Treatment of Liver Fibrosis at AASLD The Liver Meeting® 2024

Wellington

New preclinical results support the anti-fibrotic potential of engineered macrophages in multiple fibrosis models

Engineered TIM4-expressing macrophages correct defective efferocytosis in MASH, demonstrating potent anti-fibrotic activity 

PHILADELPHIA, Nov. 17, 2024 /PRNewswire/ — Carisma Therapeutics Inc. (Nasdaq: CARM) (“Carisma” or the “Company”), a clinical-stage biopharmaceutical company focused on discovering and developing innovative immunotherapies, today presented promising preclinical data on engineered macrophages for treating liver fibrosis at the American Association for the Study of Liver Diseases (AASLD) The Liver Meeting® 2024. These results underscore the pre-clinical efficacy of Carisma’s engineered macrophages in multiple liver fibrosis models and offer a novel, off-the-shelf potential treatment option for patients with fibrotic liver disease including advanced metabolic dysfunction-associated steatohepatitis (MASH).

Liver fibrosis is a central late-stage pathway in multiple liver diseases, including MASH, acute liver injury, primary sclerosing cholangitis, primary biliary cholangitis, and others. Treatment options remain limited for advanced liver disease patients. Liver disease is characterized by defective efferocytosis (an anti-inflammatory process by which macrophages clear dead hepatocytes), activation of hepatic stellate cells which leads to collagen accumulation, and chronic inflammation.

New preclinical results demonstrate that macrophages can be genetically engineered to target specific key pathways underlying liver disease with factors including TIM4 (restores efferocytosis), relaxin (inhibits hepatic stellate cell activation), and IL10 (reduces inflammation). Notably, a single dose of macrophages expressing TIM4, alone or together with relaxin, significantly reduced liver fibrosis and hepatic stellate cell activation in the translationally relevant choline-deficient, L-amino acid-defined, high-fat diet (CDAHFD) MASH model. The engineered macrophages were well tolerated and outperformed non-engineered cells in all models.

“We are pleased to present compelling preclinical data supporting the therapeutic potential of our engineered macrophages to address a critical unmet need in liver fibrosis, which is found in advanced stages of MASH,” said Michael Klichinsky, PharmD, PhD, Co-founder and Chief Scientific Officer of Carisma. “These data underscore the efficacy of our engineered macrophages as a differentiated, off-the-shelf approach for treating advanced liver fibrosis. Based on these promising findings, we are committed to advancing our liver fibrosis program.”

Carisma expects to nominate a development candidate for its liver fibrosis program in the first quarter of 2025.

The poster presented at AASLD 2024 is now available online in the “Publications” section of Carisma’s website at https://carismatx.com/technology/publications/

About Carisma Therapeutics

Carisma Therapeutics Inc. is a clinical-stage biopharmaceutical company focused on utilizing our proprietary macrophage and monocyte cell engineering platform to develop transformative immunotherapies to treat cancer and other serious diseases. We have created a comprehensive, differentiated proprietary cell therapy platform focused on engineered macrophages and monocytes, cells that play a crucial role in both the innate and adaptive immune response. Carisma is headquartered in Philadelphia, PA. For more information, please visit www.carismatx.com.

Cautionary Note on Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, anticipated discovery, preclinical and clinical development activities for Carisma’s product candidates, the potential safety, efficacy, benefits and addressable market for Carisma’s product candidates, and clinical trial results for Carisma’s product candidates. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. The words “believes,” “anticipates,” “estimates,” “plans,” “expects,” “intends,” “may,” “could,” “should,” “potential,” “likely,” “projects,” “continue,” “will,” “schedule,” and “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward-looking statements are predictions based on the Company’s current expectations and projections about future events and various assumptions. Although Carisma believes that the expectations reflected in such forward-looking statements are reasonable, Carisma cannot guarantee future events, results, actions, levels of activity, performance or achievements, and the timing and results of biotechnology development and potential regulatory approval is inherently uncertain. Forward-looking statements are subject to risks and uncertainties that may cause Carisma’s actual activities or results to differ significantly from those expressed in any forward-looking statement, including risks and uncertainties related to Carisma’s ability to advance its product candidates, the receipt and timing of potential regulatory designations, approvals and commercialization of product candidates, clinical trial sites and our ability to enroll eligible patients, supply chain and manufacturing facilities, Carisma’s ability to maintain and recognize the benefits of certain designations received by product candidates, the timing and results of preclinical and clinical trials, Carisma’s ability to fund development activities and achieve development goals, Carisma’s ability to protect intellectual property, and other risks and uncertainties described under the heading “Risk Factors” in Carisma’s Annual Report on Form 10-K for the year ended December 31, 2023, its Quarterly Reports on Form 10-Q and other documents that Carisma files from time to time with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this press release, and Carisma undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date hereof, except as may be required by law.

Investors:
Shveta Dighe
Head of Investor Relations
investors@carismatx.com

Media Contact:
Julia Stern
(763) 350-5223
jstern@realchemistry.com

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Stepful Secures $31.5 Million Series B Led by Oak HC/FT to Address U.S. Healthcare Worker Shortage

Oak HC FT

Investment will expand scalable programs and partnerships with healthcare providers, aiming to close critical workforce gaps by 2025

Stepful, the company dedicated to re-imagining healthcare training for allied health professional jobs, today announced it has raised $31.5 million in Series B funding. The round was led by Oak HC/FT with participation from Y Combinator, Reach Capital, AlleyCorp, SemperVirens, Company Ventures, Green Sands, ECMC Education Impact Fund, Intermountain Ventures, and Cedar Pine.

Today, Stepful offers educational training programs for both entry-level positions, including medical assistants, medical admins, and pharmacy technicians, and advanced programs for licensed practical nurses and surgical technicians. Unlike other trade schools, Stepful is an AI-powered learning platform with an accelerated format, lower costs and placement for students who successfully complete the program. To date, the company has seen strong growth in its business, expanding from 50 students in 2021 to more than 30,000 enrollees projected in 2024. With this new funding, Stepful will expand its B2B offering and continue growing its health system partnerships.

Stepful’s platform is designed for working adults, particularly from historically underserved communities, providing virtual instructor-led courses that include live, cohort-based learning sessions and one-on-one coaching for those looking for entry-level positions in hospitals and healthcare settings. Additionally, the program’s bite-sized, asynchronous, interactive learning modules allow students to manage their studies alongside other commitments, while AI-powered feedback offers personalized support and outreach to ensure students don’t fall behind.

“This funding supports our mission to make healthcare training more accessible while addressing the U.S. shortage of healthcare workers,” said Carl Madi, CEO of Stepful. “It enables us to reach more students, ensuring that our graduates can transition into high-demand roles more quickly, grow our practical nursing offerings, and open new schools in key regions. We’re also enhancing our capabilities to better serve healthcare employers by adding tools for screening and vetting, analytics, on-site learning support, and to pursue strategic acquisitions.”

The U.S. healthcare system will face a shortage of 3.2 million allied healthcare workers, nurses, and mental health professionals by 2026, according to the American Hospital Association, which could result in $86 billion in increased expenses and employee burnout. Traditional educational models, such as community colleges and trade schools, often require in-person attendance, have enrollment caps, and are costly—limiting their scalability in addressing these shortages.

Stepful’s approach has yielded industry-leading outcomes, including an 87% NHA CCMA exam pass rate—ten points higher than the national average—and a 75% completion rate. Stepful currently serves 13,000 monthly active students and boasts a network of over 8,000 healthcare partners  where students complete hands-on clinical training.

“Stepful is addressing a significant unmet need to mitigate the health professional labor shortage, and they’re doing it while creating a win-win situation for both students and employers,” said Vig Chandramouli, Partner at Oak HC/FT. “The quality and outcomes of Stepful’s program have proven to be superior to current options with higher graduation rates, certification pass rates, and job placement rates, all at a lower cost. We’re proud to partner with Stepful as they scale their impact.”

As the $28 billion healthcare training market continues to grow amidst labor shortages, Stepful is positioning itself as an end-to-end workforce solution for healthcare employers, adding tools like online training, on-site learning support, and analytics. By collaborating with major healthcare providers like Providence, Ohio State University Physicians, and Johns Hopkins All Children’s Hospital, Stepful’s growing B2B segment is positioned to help systems directly feed their labor pool with well-trained, skilled workers.

About Stepful

Stepful offers accelerated, affordable training programs for healthcare roles. Through partnerships with healthcare providers, Stepful connects students to job opportunities after certification. Stepful was co-founded by Carl Madi, Tressia Hobeika and Edoardo Serra. For more information, visit Stepful.com.

About Oak HC/FT 

Oak HC/FT is a venture and growth equity firm specializing in investments in fintech and healthcare. Using partnership as a foundation, Oak HC/FT guides companies and founders at every stage, from seed to growth, to create businesses that make a measurable and lasting impact. Founded in 2014, Oak HC/FT has invested in over 85 portfolio companies and has over $5.3 billion in assets under management. Oak HC/FT is headquartered in Stamford, CT, with an office in San Francisco, CA. Follow Oak HC/FT on LinkedIn and X and learn more at https://www.oakhcft.com/.

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819 Capital Partners invests in CiMaas to transform cancer treatment

Deventer, November 22, 2024 – 819 Capital Partners has acquired and invested in CiMaas, a biotech company dedicated to developing Natural Killer cell therapy to improve cancer treatment and patient outcomes.

Pioneering Immunotherapy Solutions for Advanced Cancer Treatment

Founded in 2015, CiMaas BV is a spin-off from Maastricht University and Maastricht University Medical Center+ (UM/Maastricht UMC+). CiMaas is transforming cancer treatment by developing innovative immunotherapies that harness the body’s immune system to address unmet needs in metastatic and late-stage cancers. Current therapies cure only 60% of patients in the Western world and often fail in advanced cases.

CiMaas focuses on safe, effective solutions that minimize side effects while enhancing quality of life. By integrating multiple components of the immune system, CiMaas aims to deliver more robust, lasting treatments—bringing new hope to patients.

For collaborations with partners, (non-) GMP-grade feeder cells are now also available. These make it possible to let Natural Killer expand sufficiently, so that sufficient numbers of these cells can be produced for both scientific research and treatment of patients. Furthermore, CiMaas aims to have clinical production ready for Natural Killer cells soon to start clinical research in collaboration with various partners.

Gerard Bos, CEO, CiMaas

“We are pleased to partner with 819 Capital Partners. This investment enables us to continue working on our ambitions: cure cancer patients by making Natural Killer cells a reality. Our commitment to advancing cell-therapy opportunities for cancer treatment remains as strong as ever, and we are very motivated to continue our work in this vital field now In the coming period, we will further strengthen our team with highly skilled professionals.”

Thomas Smit, director 819 Capital Partners

“We are delighted to welcome CiMaas to 819 Evergreen Fund I. Our investment in CiMaas perfectly aligns with our vision to accelerate the growth of cutting-edge ventures. CiMaas’ pioneering technology has great potential and could be a transformative breakthrough in cancer treatment in the future.”

About CiMaas

CiMaas focuses on the development of immunotherapies for specific types of cancer. The company specializes in creating innovative products based on immune system cells, and antibodies. It has created a platform technology using feeder cells for efficient expansion of NK cells.  Founded in 2015, CiMaas BV is a spin-off from Maastricht University and Maastricht University Medical Center+ (UM/Maastricht UMC+). For more information: https://cimaas.com/

819 Capital Partners

819 Capital Partners is an investment firm managing multiple funds with targeted investment strategies. 819 Evergreen Fund takes minority stakes in early-stage deep-tech and med-tech startups, while 819 Private Equity Fund acquires controlling stakes in mature firms within the leisure, IT, and healthcare industries. The open-ended structure of their funds allows for long-term investments with flexible exit timelines. The firm focuses on sectors like healthcare, technology, and leisure, addressing societal challenges such as aging populations.

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MDC Announces the Acquisition of Lighteum: Strengthening Leadership in Precision Medical Components Manufacturing

Montagu

MDC (Medical Device Components), a leading global provider of high-precision, minimally invasive medical device components, today announced its acquisition of Lighteum, a pioneer in nitinol-based medical component manufacturing. The acquisition closed on November 8, 2024.

This strategic acquisition brings together MDC’s long-standing expertise in platinum group metals and advanced micromachining with Lighteum’s cutting-edge capabilities in nitinol processing, which span high-throughput laser cutting, laser welding, heat shaping and electropolishing. The combination of these complementary technologies will enable MDC to further expand its portfolio and better serve the evolving needs of the medical device industry.

This acquisition demonstrates our commitment to continuous innovation.

Don Freeman, CEO, MDC

“We are excited to welcome Lighteum into the MDC family,” said Don Freeman, CEO of MDC. “By combining our capabilities, we will be able to offer our customers an unparalleled range of services, from prototyping through high-volume production. This acquisition demonstrates our commitment to continuous innovation and positions us to deliver more comprehensive solutions, improving patient outcomes worldwide.”

Lighteum will enhance MDC’s front-end capabilities in design and development.

Adrien Sassi, Partner, Montagu

Adrien Sassi, Partner at Montagu, commented: “We are thrilled to support MDC on this initial acquisition, following the successful carve-out of the business in July, and we warmly welcome the Lighteum team. Lighteum will enhance MDC’s front-end capabilities in design and development, helping companies innovate and accelerate the launch of life-saving medical devices.”

Lighteum, known for its rapid prototyping and transparent customer collaboration, has set itself apart as a nimble and flexible partner in the medical device industry. With the backing of MDC’s global infrastructure and extensive R&D and manufacturing resources, the combined company will be uniquely positioned to accelerate innovation, helping medical device companies bring their life-saving technologies to market faster and with even greater precision.

The combination of MDC’s leadership in precious metal components and nitinol fabrication, with Lighteum’s expertise in nitinol process development, will push the boundaries of what’s possible in medical device manufacturing.

Jose Maeso, CTO, Lighteum

“This acquisition enables us to expand Lighteum’s white-glove customer service and quick-turn responsiveness to a global customer base,” said Lorie Lodico IV, COO of Lighteum. “The combination of MDC’s leadership in precious metal components and nitinol fabrication, with Lighteum’s expertise in nitinol process development, will push the boundaries of what’s possible in medical device manufacturing,” added Jose Maeso, CTO of Lighteum.

Together, MDC and Lighteum will continue to provide world-class customer support and ensure supply chain stability, expanding their manufacturing capabilities in San Diego, Mexicali, Australia and globally. By merging their strengths, the combined company will deliver cutting-edge solutions that meet the increasing complexity of medical device design.

The integration of Lighteum’s team and operations began immediately following the close of the acquisition.

About MDC
MDC is a global leader in the development and manufacture of precision medical components, specializing in platinum group metals, nitinol, and advanced coatings. With decades of expertise in metallurgy and micromachining, MDC serves the world’s leading medical device companies, helping them bring cutting-edge technologies to market with speed and reliability.

About Lighteum
Lighteum is a manufacturer of high-complexity nitinol-based medical components, focused on transforming customer experience through transparency and best-in-class innovation. Their core capabilities include femtosecond laser processing, heat shaping, and electropolishing technologies, serving the medical device market. Covington Associates served as exclusive financial advisor to Lighteum for this transaction.

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Innovestor Invests in Clair Scientific

Innovestor

Clair Scientific has developed a completely new type of microscope based on a novel imaging technology and cloud computing. The Danish startup now raises 12 million kroner from Innovestor and Danish investor EIFO.

The two founders, Hugh Simons and Anders Clemen Jakobsen, have been working on a microscope based on new imaging technology and cloud computing since 2009. In 2022, they founded Clair Scientific as a spinout from DTU.

The Danish startup has developed a product with patented technology that combines hardware, software, and new technology. The microscope, named ‘Z1’, is half the size of regular microscopes and significantly more affordable.

Innovestor sees great potential in the Danish life science startup:

“Clair Scientific’s patented technology brings the quality and capabilities of the best optical microscopes at a fraction of their cost to the end users whether in laboratories, research institutions or industry.  It also brings in new features in visualization and data collection.  This combination creates a huge commercial potential – the reason why Innovestor is keen to team up with the Clair Scientific team”, says Petri Laine, Partner at Innovestor.

Revolutionary microscope with great business potential

Clair Scientific’s product is much more affordable and more manageable than other microscopes on the market, providing significant business potential. The company is initially focusing on Denmark and the Øresund region but will soon be expanding to the rest of Europe and the USA.

“For us, this investment means we can set ourselves up with a unique position in the market; to significantly expand our technical and commercial teams, to make our product even better for life science research and, of course, to continue innovating new technologies and products that can be as accessible as possible,” says Hugh.

High costs for advanced laboratory equipment are an innovation-limiting barrier for researchers within numerous biotech and pharmaceutical companies, as well as many other life science startups. Clair Scientific addresses this with their innovative technology, which can be acquired at a significantly lower price than other advanced microscopes on the market today.

Earlier this year, the company won Danish Industry Foundation Entrepreneur Award ‘Danish Tech Challenge’, which since 2014 has helped technology-intensive hardware entrepreneurs further develop and grow.

Initially, the target group is research groups and smaller life science companies that stand to benefit the most from access to automation and new technology.

Read more about Clair Scientific at www.clairscientific.com

For additional information:

Petri Laine

Partner, Innovestor Venture Capital

petri.laine@innovestor.fi

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CorroHealth Announces Strategic Partnership with Patient Square Capital

Carlyle

PLANO, Tex. (October 24, 2024) – CorroHealth, a leading provider of revenue cycle management (RCM) solutions to health systems and health plans, announced it has signed definitive agreements for a strategic investment from Patient Square Capital (Patient Square), a dedicated health care investment firm. Current shareholders, including investment funds affiliated with global investment firm Carlyle (NASDAQ: CG), TT Capital Partners, Sanaka Group, and CorroHealth management, will remain investors, with Patient Square and Carlyle sharing joint control of CorroHealth.

“Since its inception in 2019, CorroHealth has grown into a technology and clinically led health care RCM platform,” said CorroHealth CEO Pat Leonard. “The Patient Square team has a long history of successfully investing in and scaling health care companies. We are pleased to welcome them and look forward to leveraging our investors’ expertise to continue expanding our capabilities and delivering exceptional value to our customers.”

Patient Square Partner Justin Sabet-Peyman said, “We are excited to be partnering with CorroHealth’s management team and investors to build upon CorroHealth’s strong track record of organic and inorganic growth. We have conviction in the attractiveness of the RCM market and believe CorroHealth is well-positioned to continue delivering differentiated tech-enabled solutions to its provider and payer customers.”

Carlyle has been the majority investor in CorroHealth since 2019 and a predecessor business since 2017. Carlyle Partner and Global Co-Head of Health Care Joe Bress said, “We are tremendously proud of CorroHealth’s evolution since its founding. We consider the future bright for CorroHealth and are committed to supporting CorroHealth’s continued growth and innovation alongside our new and existing partners.”

The transaction is expected to close by the end of the year. Barclays and TripleTree are serving as co-lead financial advisors to CorroHealth; Latham & Watkins is serving as legal counsel to CorroHealth and Carlyle; and Kirkland & Ellis is serving as legal counsel to Patient Square.

About CorroHealth
CorroHealth is a leading provider of clinically led healthcare analytics and technology-driven solutions, dedicated to positively impacting the financial performance for physicians, hospitals, and health plans. With over 15,000 employees worldwide, CorroHealth offers integrated solutions, proven expertise, intelligent technology, and scalability to address needs across the entire revenue cycle. Our global presence extends over 10 locations, including the United States, India, and the United Kingdom. Further information is available at www.corrohealth.com.

About Patient Square
Patient Square Capital is a dedicated health care investment firm with approximately $10.5 billion in assets under management as of June 30, 2024. The firm aims to achieve strong investment returns by collaborating with high-quality, growth-oriented companies and top-tier management teams whose products, services, and technologies improve health. Patient Square utilizes deep industry expertise, a broad network of relationships, and a partnership approach to make investments in companies grow and thrive. Patient Square invests in businesses that strive to improve patient lives, strengthen communities, and create a healthier world. For more information, visit www.patientsquarecapital.com.

About Carlyle
Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across its business and conducts its operations through three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $435 billion of assets under management as of June 30, 2024, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,200 people in 29 offices across four continents. Further information is available at www.carlyle.com. Follow Carlyle on X @OneCarlyle and LinkedIn at The Carlyle Group.

 

Media Contacts:
CorroHealth:
Mellissa Gardner, (202) 978-8942
mellissa.gardner@corrohealth.com

Patient Square:
Prosek Partners
pro-PatientSquareCapital@prosek.com

Carlyle:
Brittany Berliner, (212) 813-4839
Brittany.Berliner@carlyle.com

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Francisco Partners to Acquire AdvancedMD from Global Payments

Franciso Partners

Pending closing – see press release below.

Acquisition to position AdvancedMD as standalone business to accelerate investment and expansion

SAN FRANCISCO – October 30, 2024 – Francisco Partners (“FP”), a leading global investment firm that specializes in partnering with technology businesses, announced it has signed a definitive agreement to acquire AdvancedMD, a leading cloud-based provider of medical office software, from Global Payments, Inc. (NYSE: GPN), a leading worldwide provider of payment technology and software solutions.

Founded in 1999, AdvancedMD provides a cloud native medical office software platform that unifies practice management, electronic health record, patient engagement, and payments software solutions. AdvancedMD delivers an end-to-end practice and patient workflow to help healthcare practices, independent physicians, and medical billers optimize operations, reduce administrative burdens, manage higher patient encounters and improve patient outcomes. AdvancedMD will continue to serve thousands of healthcare professionals by delivering a technology platform that supports practices through every stage of the patient care journey.

The business will continue to be led by its existing management team, with current President Amanda Sharp assuming the additional title of Chief Executive Officer of AdvancedMD. Commenting on the acquisition Sharp said, “Our mission at AdvancedMD is to empower healthcare professionals to realize their full potential. This acquisition positions our business to meet the evolving needs of our clients, expand the product portfolio and continue to invest in the business and our team members. We are thrilled to be working with Francisco Partners and have confidence that its healthcare technology experience and proven track record in nurturing and growing technology businesses will enable AdvancedMD’s loyal base of employees to continue delivering innovation.”

Since its launch 25 years ago, Francisco Partners has invested in over 450 technology companies, making it one of the most active and long-standing investors in the technology industry. FP has deep experience in the healthcare technology market and its investments have focused on companies that provide the best possible products and service for its customers and partners. Francisco Partners also has extensive experience partnering with corporations to execute divisional carve-outs with transactions such as bswift from CVS Health, Merative (f.k.a. IBM Watson Health) from IBM, and Capsule Technologies from Qualcomm.

Justin Chen, Partner at Francisco Partners, said, “We are excited to welcome AdvancedMD back to the FP portfolio and to partner with the team to continue building best-in-class healthcare software. AdvancedMD’s end-to-end platform delivers an integrated user experience for patients, physicians, staff and billers, and is well-positioned to ensure its customers’ success.” Anders Mikkelsen, Principal at Francisco Partners, added, “The AdvancedMD team is committed to serving the healthcare industry’s constantly evolving needs and challenges. We are eager to support the talented employees and management team in its next chapter of growth.”

“We had the privilege of investing in AdvancedMD years ago, and it’s been remarkable to see the consistent long-term track record of growth and innovation since. We appreciate all Global Payments has done to drive growth and innovation in this business and are confident that our acquisition will help AdvancedMD build on its strong foundation of success,” said Ezra Perlman, Co-President at Francisco Partners.

Global Payments will continue to power the company’s payment acceptance capabilities as a long-term partner ensuring consistency of delivery and a seamless transition for employees and customers.

The acquisition is expected to close in the fourth quarter of 2024, subject to the satisfaction of customary closing conditions.

Moelis & Company LLC is acting as financial advisor and Kirkland & Ellis LLP is serving as legal advisor to Francisco Partners.

Bank of America is serving as exclusive financial advisor and Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Global Payments.

About Francisco Partners

Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch 25 years ago, Francisco Partners has invested in over 450 technology companies, making it one of the most active and longstanding investors in the technology industry. With approximately $45 billion in capital raised to date, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com.

About AdvancedMD

AdvancedMD revolutionized medical office software in 1999 with the introduction of the industry’s first true cloud solution. Today, the company continues to lead HealthTech innovation with a complete cloud suite of smart applications that work in unison, accelerating collaborative workflow for every role of the practice. With AdvancedMD, medical office staff are empowered to thrive in the online age of healthcare and value-based reimbursement with essential clinical, financial, patient engagement and reputation management applications that are unified and available anytime, anywhere on any device. AdvancedMD strives to be the technology heartbeat of healthcare for providers, patients, and payors for a healthier world. For more information on AdvancedMD, please visit www.advancedmd.com.

About Global Payments

Global Payments Inc. (NYSE: GPN) is a leading payments technology company delivering innovative software and services to our customers globally. Our technologies, services and team member expertise allow us to provide a broad range of solutions that enable our customers to operate their businesses more efficiently across a variety of channels around the world.

Headquartered in Georgia with approximately 27,000 team members worldwide, Global Payments is a Fortune 500® company and a member of the S&P 500 with worldwide reach spanning North America, Europe, Asia Pacific and Latin America. For more information, visit company.globalpayments.com and follow Global Payments on X, LinkedIn and Facebook.

Media Contacts:

Francisco Partners
Whit Clay
wclay@sloanepr.com

Global Payments
Emily Edmonds
media.relations@globalpay.com

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Carlyle Announces the Listing of Rigaku on the Prime Market of the Tokyo Stock Exchange

Carlyle

Tokyo, Japan, 25 October 2024 – Global investment firm Carlyle (NASDAQ: CG) today announced the listing of Rigaku Holdings Corporation (“Rigaku”), a leading global manufacturer of analytical instruments focused on X-ray analysis, measurement and testing instruments, on the Prime Market of the Tokyo Stock Exchange.

Founded in 1951 and headquartered in Tokyo, Rigaku’s innovative product suite is used across a wide range of science and technology applications, including state-of-the-art R&D and production. Rigaku has advanced R&D capabilities primarily focused on XRD (X-ray diffraction) and XRF (X-ray fluorescence) and serves a highly diversified customer base in over 90 countries, including academic and research institutions as well as blue chip companies in industries spanning semiconductors, electronic devices, batteries, pharmaceuticals, steel and cement, among others.

Carlyle acquired Rigaku in 2021 and has since worked closely with management to deliver strong growth, establishing the company as a leading international player in the field of analytical and industrial instrumentation technology. This has been achieved through developing Rigaku’s range of products and applications, continuous investment in R&D and innovation, as well as expanding its global footprint and overseas manufacturing capabilities.

Takaomi Tomioka, Co-Head of Carlyle Japan, said: “It has been a privilege to work closely alongside Rigaku’s exceptional management team in this important period of its growth story, driving the business’ overseas expansion, enhancing its operational and commercial efficiency, and strengthening management. Rigaku is well positioned to continue its growth trajectory as it takes the next step in its evolution in the public markets.”

Jun Kawakami, CEO of Rigaku, said: “Through our partnership with Carlyle, Rigaku has experienced significant growth over the past four years, leveraging the benefits of working alongside a global financial sponsor with deep experience of internationalizing Japanese businesses. Today marks a significant milestone in Rigaku’s history, and we believe the business is well-placed to build upon its leadership position and drive further growth as a public company.”

Carlyle’s Japan buyout platform has invested more than JPY 450 billion across approximately 40 private equity investments since 2000. Rigaku represents the ninth portfolio company of Carlyle’s Japan buyout platform to become a listed company in the region.

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This press release does not constitute an offer of securities for sale in the United States. Securities of Rigaku Holdings Corporation may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from Rigaku Holdings Corporation and that will contain detailed information about the Rigaku Holdings Corporation and its management, as well as financial statements.

 

About Carlyle 

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $435 billion of assets under management as of June 30, 2024, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,200 people in 29 offices across four continents. Further information is available at www.carlyle.com. For more, follow Carlyle on X and LinkedIn.

 

 

Carlyle Media Contacts

Andrew Kenny, Global Corporate Communications

+44 7816 176120

andrew.kenny@carlyle.com

 

Brunswick Group:

David Ashton / George Ohyama

+81 80 9713 2020 / +81 80 7340 1015

carlylejp@brunswickgroup.com

 

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