26 April 2018

Acquires Acutronic Medical Systems and agrees to acquire imtmedical

Chicago and London, April 26^th 2018 – Vyaire Medical (the “Company”), a global leader in respiratory care, today announced that it has acquired Acutronic Medical Systems and, separately, entered into a definitive agreement to acquire imtmedical.

Acutronic, a Switzerland and Germany-based leader in the design and manufacture of neonatal ventilation equipment, is globally recognized for its innovative ventilation solutions designed for both neonatal and pediatric intensive care units.

imtmedical, based in Switzerland, is a developer, manufacturer and distributor of acute care mechanical ventilation products utilized in acute care centers, long-term care facilities, home healthcare as well as the emergency services and transport markets. The imtmedical transaction, which is subject to customary regulatory and other approvals, is expected to close in the second quarter.

The Acutronic and imtmedical acquisitions immediately enhance Vyaire Medical’s product offering, complementing investments made by the Company through internal development programs. In combination, these investments have allowed Vyaire Medical to completely renew its ventilation portfolio within the past 18 months.

Dave Mowry, Vyaire Medical’s President and Chief Executive Officer, said, “The transactions we are announcing today, along with our own internal development efforts, underscore our commitment to positioning Vyaire Medical as a global respiratory care leader. Our acquisition of Acutronic and imtmedical immediately enhance our product portfolio, expand intellectual capital and broaden our technological capabilities; all of which will accelerate Vyaire Medical’s growth. We could not be more excited about taking these amazing products, in combination with our own, to market to advance our mission of improving patient outcomes and providing increased value to our customers.”

Vyaire Medical also announced today that funds advised by Apax Partners (the “Apax Funds”) have completed their purchase of Becton, Dickinson & Company’s remaining stake in the Company. Vyaire Medical is now an independent, standalone company owned by the Apax Funds.

Steven Dyson and Arthur Brothag, Partners at Apax Partners, said, “These new acquisitions are exciting steps forward for Vyaire Medical and build on the strong progress made by the Company’s management over the past year and a half. We join Dave Mowry in welcoming both the Acutronic and imtmedical teams to the Vyaire family and are excited about our joint future. We look forward to our ongoing work with Vyaire Medical as it continues to grow as the leader in respiratory care.”

About Vyaire Medical
Vyaire Medical supports and improves the lives of patients with a laser-focus on improving patient outcomes and increasing value for customers. The Chicago, IL-headquartered company was formed in October 2016 to serve healthcare customers with innovative device and service solutions across the respiratory and anesthesia continua of care. Vyaire’s brands have a 65-year track record of pioneering, innovating, and advancing respiratory diagnostics, ventilation, and anesthesia delivery & patient monitoring. From industry-pioneering brands that include Bird, Bear, and Jaeger to respected industry leaders AirLife®, Vital Signs®, Viasys, and many others – Vyaire Medical has nearly 27,000 distinct part numbers recognized, trusted and preferred by specialists in the respiratory therapy and anesthesiology healthcare markets worldwide. Learn more at www.vyaire.com.

About Apax Partners
Apax Partners is a leading global private equity advisory firm. Over its more than 35-year history, Apax Partners has raised and advised funds with aggregate commitments of over $50 billion. The Apax Funds invest in companies across four global sectors of Healthcare, Tech & Telco, Services and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. Apax Partners has a strong track record in corporate carve-outs, supported by its Operational Excellence Practice, a team of dedicated operating specialists who support deal teams and drive value creation in the portfolio. For more information see: www.apax.com.

About Acutronic Medical Systems
Acutronic is a Switzerland and Germany-based global leader in the area of neonatal ventilation equipment, offering innovative solutions for the Neonatal Intensive Care Unit (NICU) and Pediatric Intensive Care Unit (PICU). Over the course of its long history, Acutronic has established itself as a pioneer within the neonatal monitoring and ventilation segment of the respiratory markets. Acutronic’s products and solutions consistently earn high praise and accolades from customers and are well-respected across the broader markets by key opinion leaders around the globe. Learn more at: www.acutronic-medical.ch.

About imtmedical
imtmedical is known for its world class developments in medical ventilator and testing devices and its internationally renowned medical ventilation experts. imtmedical brings continuous efforts to improve and protect its substantial R&D activities, its innovative solutions, and thereby supporting its leading position in the marketplace as an innovative company providing highest quality and leading medical ventilators to its customers. Learn more at: www.imtmedical.com.

Media Contacts  

For Vyaire Medical:

David Stafford | +1 872-757-0300 | david.stafford@vyaire.com

For Apax Partners:

Global Media: Andrew Kenny, Apax | +44 20 7 872 6371 | andrew.kenny@apax.com
USA Media: Todd Fogarty / Aduke Thelwell, Kekst | +1 212-521 4800 | Apax@kekst.com
UK Media: Matthew Goodman / James Madsen, Greenbrook | +44 20 7952 2000 | apax@greenbrookpr.com

Belgian health care provider Orpea Group is proposing to acquire a majority of the shares of Dagelijks Leven. Dagelijks Leven realises small-scale residential care centres for residents with memory problems.

Dagelijks Leven has been operating since 2014 and has 29 locations distributed throughout the Netherlands. All  locations are in the centre of their district and offer space for 20 residents. The wellness and well-being of residents is a central feature of the vision of Dagelijks Leven, whereby residents can feel at home as far as possible. The mission of Dagelijks Leven is to keep this form of residential care affordable for everyone.

Orpea Group is originally a French company incorporated in 1989 by Dr. J. Marian. Over nearly 30 years, Orpea has gained extensive experience in health care and services to the elderly and is internationally recognised as a high quality health care provider, caring for over 80,000 residents in 818 care facilities in 12 countries. Orpea has been listed on the Paris stock exchange since 2002.

NPM Capital is selling its majority stake in the care company. Paul Bisseling, investment manager at NPM Capital, says: “We do not usually invest in very small start-ups, but we were so enthusiastic about this concept that we made an exception. We are sorry to see our involvement come to an end, but we are also pleased with the arrival of Orpea.”

The management of Dagelijks Leven is pleased with its new partner: “Orpea has a huge amount of knowledge and experience that can benefit us in the Netherlands. We look forward to our cooperation and believe that it will add value for everyone.”

The residences of Dagelijks Leven are all realised in cooperation with the developer Amvest, a joint venture between Aegon and PFZW. CFO Dennis van Vugt of Amvest reacted enthusiastically to the acquisition by Orpea: “It is good to see that a quality international provider is also excited about this concept.”

Positive advice

The transaction is still subject to approval by NZa. The majority of the care administration offices relevant to Dagelijks Leven have now approved the deal. The works council and the relatives’ council of Dagelijks Leven have also issued positive recommendations.

There will be no initial changes for the residents and staff of Dagelijks Leven as a result of the acquisition. Later on, there will be benefits from the rich knowledge and experience available at Orpea.

Mumbai and London, 6 April 2018: Quinag Acquisition (FDI) Limited, a company backed by funds advised by Apax Partners (“the Apax Funds”), today announced that it has entered into a definitive agreement to acquire a controlling stake in Healthium MedTech Private Limited (“Healthium” or the “Company”, previously known as “Sutures India”), the leading independent medical devices player in India. The controlling stake was acquired from existing shareholders including TPG Growth, CX Partners, and founding shareholders. The transaction is subject to customary approvals. The financial terms of the transaction are not being disclosed.

Founded in 1992, Healthium manufactures and sells a broad range of medical devices and consumable products including wound closure products, minimally invasive products including endo surgery and arthroscopy consumables, and urology products. The Company’s key brands include Trusynth, Truglyde, Trubond, and Sironix, amongst others.

Through its strong pan-India distribution presence under the Sutures India division, Healthium sells its products across large and corporate hospitals, nursing homes, and government hospitals and institutions, and services over 10,000 hospitals across the country. Backed by the Apax Funds, Healthium plans to further deepen its presence in the Indian market and broaden its portfolio of specialty medtech products.

Healthium has a significant and growing international business with exports to over 50 countries. With an already strong presence in the urology market in the UK, under the Clinisupplies division, Healthium has also recently and successfully launched a portfolio of wound closure products under the Q-Close brand.

Healthium will be the eighth investment in India for the Apax Funds over the past 11 years. Including this transaction, the Apax Funds have invested just under $2bn of equity in the country. The investment in Healthium marks the second investment in the healthcare space for the Apax Funds in India, following the investment in Apollo Hospitals.

Shashank Singh, Partner at Apax Partners and Head of Apax’s India office, said: “Healthcare is a key focus area for Apax in India given secular tailwinds around healthcare spend and government initiatives focused on affordable and universal healthcare. Healthium, with its strong IP and domestic manufacturing base, is well positioned to improve healthcare access and drive excellence in local manufacturing under the Make in India programme. The opportunity is to create a medtech platform of scale to deliver a broad portfolio of products in the Indian market, and we are excited to partner with the management team of Healthium to deliver this vision.”

Steven Dyson, Partner at Apax Partners and Global Co-head of Healthcare at Apax, said: “Apax has strong experience in medical devices companies globally with several large businesses such as Vyaire, Acelity and Syneron Candela in the Apax Funds’ portfolio. Healthium is a well-established brand selling high quality products at affordable prices, which is necessary in a market like India. We see a great opportunity to further expand its product portfolio and create India’s leading medical devices company.”

Matt Hobart, Partner at TPG Growth and leader of the fund’s Healthcare practice globally, said:  “TPG Growth has invested in a significant number of healthcare provider businesses around the world, from urgent care clinics and travel nurse staffing in the United States to world-class cancer clinics and specialty mother and child centers in India. Thematically, we have always been focused on investing behind companies that offer high-quality products and services with a focus on value. From the time we invested five years ago, Healthium has always delivered extremely well on that quality-cost equation. We are very pleased to have grown Healthium into one of the leading medtech platforms in India and are confident that the Company will continue to scale effectively for years to come.”

Apax was advised by Kirkland & Ellis (legal counsel), Khaitan & Co (legal counsel), and PwC (accounting and tax advisor). TPG Growth was advised by Shardul Amarchand Mangaldas (legal counsel), Deloitte (accounting and tax), and Goldman Sachs.

About Healthium MedTech Private Limited
Healthium is India’s leading medical devices player, manufacturing and marketing several surgical and medical consumables including surgical sutures, staplers, suturing needles, other wound closure products, surgical gloves, urology products and a range of minimally invasive solutions. Healthium is headquartered in Bangalore and has 5 manufacturing locations across the country. The Sutures India division of the company has a strong sales and distribution network in India comprising over 400 sales personnel and over 1,500 distributors. Clinisupplies, the UK division of Healthium, is a leading medical devices player in the UK, marketing and selling urology products, surgical sutures and other wound care products. Healthium also has significant global presence with exports to over 50 countries, including the USA, France, Germany, Italy, Switzerland, Brazil, Mexico, GCC countries, Egypt, Turkey and several Asian countries. Healthium also has a large OEM business that caters to requirements of sutures and other medical device companies globally.

About Apax Partners
Apax Partners is a leading global private equity advisory firm. Over its more than 35-year history, Apax Partners has raised and advised funds with aggregate commitments of over $50 billion. The Apax Funds invest in companies across four global sectors of Tech & Telco, Services, Healthcare and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.

About TPG Growth
TPG Growth is the middle market and growth equity investment platform of TPG, the global private investment firm. With more than $13 billion of assets under management, TPG Growth targets investments in a broad range of industries and geographies. TPG Growth has the deep sector knowledge, operational resources, and global experience to drive value creation, and help companies reach their full potential. The firm is backed by the resources of TPG, which has more than $73 billion of assets under management. For more information, visit www.tpg.com.

Media Contacts

For Apax Partners:

Global Media: Andrew Kenny, Apax | +44 20 7 872 6371 | andrew.kenny@apax.com
USA Media: Todd Fogarty, Kekst | +1 212-521 4854 | todd.fogarty@kekst.com
UK Media: Matthew Goodman / James Madsen, Greenbrook | +44 20 7952 2000 | apax@greenbrookpr.com

For TPG Growth:

Global Media: Erika White, TPG | +1 415-743-1550 | media@tpg.com
India Media: Snigdha Nair, Adfactors |+91 9920481191 | snigdha.nair@adfactorspr.com

Finnish digital health company Kaiku Health Oy, which provides intelligent patient monitoring software for healthcare providers across Europe, has closed a €4.4 million funding round. The investment was led by Debiopharm Innovation Fund SA and Tesi with participation from Prodeko Ventures Oy and existing investors Reaktor Ventures Oy, Metsola Ventures Oy, and Athensmed Oy.

Kaiku Health offers intelligent patient monitoring software for healthcare providers. Structured capture and analysis of patient-reported data enables clinicians to evaluate the effectiveness of therapies and to detect and treat health problems early. Kaiku Health platform is used in routine care by over 30 clinics in Switzerland, Germany, Italy, Sweden, and Finland, and has been used by 64,000 patients (March 2018).

“We have seen the significant positive impact our patient monitoring platform can have on people’s health”, comments Lauri Sippola, Kaiku Health CEO and Co-Founder. “This funding allows us to provide our platform to a growing number of healthcare providers and patients internationally. It is important that our investors also bring an extraordinary understanding of healthcare, life sciences and digitalization.”

“We are excited about the impact digital technologies will have on the patient journey and are particularly enthusiastic to help take the digital therapeutic approach in oncology out of the lab and onto the market where the benefits of this high frequency monitoring can be expected to bring real outcomes improvement”, says Tanja Dowe, CEO at Debiopharm Innovation Fund.

“We have studied the Finnish digital health sector thoroughly and found it extremely interesting from an investor’s point of view”, adds Joni Karsikas, Investment Manager at Tesi. “The Kaiku Health team impressed us with its strong technological know-how, for instance in the use of artificial intelligence. Kaiku Health has strong international customer references and a broad user-base for a young health-tech company.”

Digital patient monitoring can improve quality of life and reduce costs of healthcare

Recent research¹ has shown that collecting patients’ subjective experiences and turning them into structured data can have significant impact on care outcomes. Kaiku Health’s intelligent digital platform can be applied for monitoring patient-reported outcomes in several medical specialties. Its unique algorithms screen patient’s symptom data, alert care team and trigger personalized instructions for patients. Structured real-world data on the efficacy of therapies allows early interventions and personalized care.

For further information, please contact:

Kaiku Health
Lauri Sippola, CEO & Co-Founder
lauri.sippola@kaikuhealth.com
Tel: +358 40 744 7481

Tesi
Joni Karsikas, Investment Manager
joni.karsikas@tesi.fi
Tel: +358 40 827 0395

Debiopharm Group
Christelle von Büren
Communication Coordinator
christelle.vonburen@debiopharm.com
Tel: +41 (0)21 321 01 11

Pictures: media.kaikuhealth.com

1 References
Basch E, Allison MD, Mark GK, Howard IS, Clifford AH, Paul S, (2015). Symptom Monitoring With Patient- Reported Outcomes During Routine Cancer Treatment: A Randomized Controlled Trial, J Clin Oncol 2016: 34(6), 557–565.
Basch E, Deal AM, Dueck AC, Scher HI, Kris MG, Hudis C, Schrag D. Overall Survival Results of a Trial Assessing Patient-Reported Outcomes for Symptom Monitoring During Routine Cancer Treatment. JAMA. 2017 Jul 11; 318(2): 197-198.

About Kaiku Health
Kaiku Health (previously Netmedi Oy) is a digital health company aiming to improve quality of life and reduce costs of healthcare through data science. We are digitizing the patient monitoring and easing the adoption of Patient-Reported Outcomes in several therapy areas. Our pioneering patient monitoring platform is used in routine care by over 30 clinics in Europe.
Founded in 2012, Kaiku Health has raised over 6 million euros in total funding. Kaiku Health’s revenue in 2017 was approximately €0,7 million. We are headquartered in Helsinki, but our people also harbor in Frankfurt and Stockholm. For more information, please visit www.kaikuhealth.com and connect with us at Twitter @KaikuHealth.

About Debiopharm Innovation Fund SA
Part of Debiopharm Group™ – a Swiss-headquartered global biopharmaceutical group including five companies active in the life science areas of drug development, GMP manufacturing of proprietary drugs, diagnostic tools and investment management – Debiopharm Innovation Fund’s mission is to invest in companies developing innovative therapeutics, diagnostics and smart data solutions that change the way we develop drugs and treat patients. Since 2008, the company has invested nearly USD 100 million and led 10 out of the 14 last investment rounds in its portfolio companies.
For more information, please visit www.debiopharm.com
We are on Twitter. Follow us @DebiopharmNews 

About Tesi
Tesi (Finnish Industry Investment Ltd) is a venture capital and private equity company that accelerates companies’ success stories by investing in them directly and via funds. Tesi always invests together with other investors, providing them with access to high quality deal-flow in Finland. Our investments under management total €1.2 billion and we have altogether 700 companies in portfolio. www.tesi.fi/ @TesiFII