EURAZEO PATRIMOINE completes the acquisition of C2S GROUP

Eurazeo

Eurazeo Patrimoine, the Eurazeo division specializing in investments in tangible assets, is pleased to Announce the acquisition of C2S Group from Bridgepoint. C2S Group is the eighth largest private clinic operator in France and a regional leader in Auvergne, Rhône-Alpes and Burgundy Franche-Comté.

Capitalizing on recent investments in modernizing the group and improving its operating performance, C2S will continue to accelerate its development strategy, particularly through external growth and confirm its position as a benchmark health care provider in the Central-Easternregion. It will be supported by Eurazeo Patrimoine’s experience in accompanying companies, combined with its real estate management expertise.

Eurazeo Patrimoine and Bridgepoint signed an agreement in January 2018 for the purpose of this transaction. Eurazeo Patrimoine has currently invested c.€103 million for 87% of the share capital, alongside management. Group medical practitioners and a minority co-investor are expected to enter the share capital at a later date.

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About C2S Group

C2S Group is the eighth largest private clinic operator in France and a regional leader in Auvergne, Rhône-Alpes and Burgundy Franche-Comté. It operates 11 clinics, primarily specializing in short and medium-length stays in general medicine, surgery and follow-up care. It also owns the buildings for seven of its clinics. The group has around 500 medical practitioners, who are partners in the group’s governance and nearly 1,800 employees. In 2017, it treated over 250,000 patients (75% as outpatients) and reported revenue of €161 million.

About Eurazeo

With a diversified portfolio of approximately €15 billion in assets under management, including €1 billion from third parties, Eurazeo is a leading global investment company with offices in Paris and Luxembourg, New York, Shanghai and Sao Paulo. Its purpose and mission is to identify, accelerate and enhance the transformation potential of the companies in which it invests. The firm covers most private equity segments through its five business divisions – Eurazeo Capital, Eurazeo Croissance, Eurazeo PME, Eurazeo Patrimoine and Eurazeo Brands. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term. As a global long-term shareholder, the firm offers deep sector expertise, a gateway to global markets, and a stable foothold for transformational growth to the companies it supports.

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Eurazeo is listed on Euronext Paris.

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ISIN: FR0000121121

Bloomberg: RF FP

Reuters: EURA.PA

 

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Exclusive agreement signed for sale of Groupe Bio7 to Cerba Healthcare

Ardian

Paris, March 26, 2018: Ardian, a world-leading private investment house, and the Management and Shareholders of Groupe Bio7, announced today that they have signed an exclusive agreement for the sale of Groupe Bio7, a French-based specialist in clinical analysis, to Cerba HealthCare, a European leader in clinical pathology.

Headed by Frédéric Barroux, biologist, shareholder and founder, Groupe Bio7 is one of the leading multi-location clinical pathology groups in France. With 70 laboratories, the Group has a very strong presence in the Île-de-France region. Since 2016, Bio7 has extended its presence across the rest of France, notably in the Indre-et-Loire and Oise regions.

Groupe Bio7 is expected to generate pro forma revenue in excess of 110 million euros in 2018.

Frédéric Barroux, Chairman of Groupe Bio7, said: “We’re thrilled and very proud to enable Groupe Bio7 to continue to expand and develop. The relationship between Bio7 and Cerba HealthCare, a European leader in clinical pathology, will help our Group to broaden its range of skills and services, while continuing to apply a community-based approach designed to offer the best treatment plans for patients.”

“We deeply thank Ardian for their support and involvement in our strategic planning, their support and encouragement of our ongoing external growth, as well as the financial expertise of their teams, especially with regards to financing. The active involvement of Ardian within our Group has been a significant factor in enabling the business to double in size since 2014.”

François Jerphagnon, Head of the Ardian Expansion team, added: “Groupe Bio7’s sustained growth is testament to the long-term success of the collective and entrepreneurial project undertaken by the Groupe Bio7 teams. As an investor and shareholder, we’re especially pleased with the Group’s growth, driven both by a strong organic development of its sites, and the quality of acquisitions of various sizes identified, carried out and harmoniously integrated within the Group. The partnership with Cerba HealthCare a leading international player in clinical pathology, will ensure that this success is not only continued, but intensified.”

Catherine Courboillet, CEO of Cerba HealthCare, added: “We’re excited to welcome Bio7 to Cerba HealthCare. Under the impetus of Frédéric Barroux, the group’s biologists have built a solid and professional laboratory network. We share their values of quality, respect and innovation, as well as the same vision of the future of medical biology. Together, we’ll continue to build a model of proximity biology and expertise that places the patient at the heart of healthcare.”

LIST OF PARTIES INVOLVED

  • Cerba HealthCare (Catherine Courboillet, Cyril Dubreuil, Jérôme Thill)
  • Groupe Bio7 (Frédéric Barroux, Florence Pajot, Stéphane Konkuyt)
  • Ardian Expansion (François Jerphagnon, Marie Arnaud-Battandier, Arthur de Salins)
  • Partners Group (Christoph Rubeli, Kim Nguyen, Remy Hauser, Christopher Mauss)
  • PSP Investments (Simon Marc, Patrick Daignault, Philippe Bouchard, Mia Morisset)

Advisors:

  • Legal advisor to Cerba HealthCare: Goodwin Procter (Maxence Bloch, William Robert)
  • Legal advisor to Management Groupe Bio7 and Ardian: Latham & Watkins (Olivier du Mottay, Louis Paumier, Marion Lebastard)
  • Financial advisor to Management Groupe Bio7 and Ardian: Hottinguer Corporate Finance (Pierre de Bousingen, Djilali Bou-abdallah, Arthur Gautier)

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$67bn managed or advised in Europe, North America and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.

Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 490 employees working from 13 offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), North America (New York, San Francisco) and Asia (Beijing, Singapore, Tokyo). It manages funds on behalf of about 700 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

Follow Ardian on Twitter @Ardian

www.ardian.com

ABOUT CERBA HEALTHCARE

A European leader in clinical pathology, the group is also involved in three complementary segments:
– local clinical pathology—mainly in France, Belgium, Luxembourg, Italy, and the United Arab Emirates, through a network of 300 laboratories, 150 sampling centres, and 50 technical facilities;
– specialised clinical pathology—through Laboratoire Cerba, its original laboratory, serving more than 50 countries in Europe, Africa, and Asia;
– central lab testing for clinical trials—essential to the development of new molecules by the pharmaceutical and biotechnology industry—through its subsidiaries set up across the 5 continents.
The group recently diversified through the creation of Cerba Vet, securing a position on the market of veterinary clinical pathology and genetics.
Cerba HealthCare has over 4,500 employees, including 430 medical pathologists.
In addition to the biologists and managers of the Group, since April 2017, Cerba HealthCare’s shareholders include the global private markets investment management firm, Partners Group, acting on behalf of its clients, and the Public Sector Pension Investment Board (PSP Investments), one of Canada’s largest pension investment managers.
www.cerbahealthcare.com

CONTACTS PRESSE

ARDIAN
Headland
Carl Leijonhufvud

cleijonhufvud@headlandconsultancy.com
Tel: +44 020 3805 4827

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Ascensus Expands into Consumer Directed Healthcare and Employee Benefit Administration Markets with Agreement to Acquire Chard Snyder

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Leading Benefit Solutions Provider Will Become Anchor Business for Ascensus’ Newly Formed Health Division

DRESHER, PA—March 20, 2018— Ascensus, a technology-enabled service provider that helps more than 7 million Americans save for the future, has entered into an agreement to acquire Chard Snyder. Chard Snyder, which will serve as the anchor business for Ascensus’ newly formed Health division, is a third-party administration firm that services consumer directed health (CDH) plans including health savings accounts, health reimbursement arrangements, and flexible spending accounts. It also offers benefit continuation services like COBRA and FMLA leave administration along with retiree billing administration and commuter benefits.

Based in Mason, Ohio, Chard Snyder provides employee benefit solutions to more than 1,400 employers throughout the United States in sectors that include Higher Education, Healthcare, Municipalities, Manufacturing, and Banking & Financial. With a 30-year track record of helping clients successfully navigate diverse and complex regulatory mandates, the firm assists employers and their employees in meeting their health benefit needs by making benefit plans easy to understand.

“When looking at Chard Snyder, we identified a market leader in the CDH space with an outstanding market and client reputation,” states David Musto, Ascensus’ president. “Adding their employee benefits expertise to our suite of service offerings positions Ascensus to better achieve our mission of helping Americans save for retirement, education, and health needs.”

“This is a core business for us, and it will significantly expand our service offerings to our current clients, advisors, and partners,” continues Musto. “I’m pleased to welcome Chard Snyder’s management team and their associates to our organization.”

“Chard Snyder’s difference has always been our people and our ability to maintain authentic customer experiences,” says Joy Snyder, president of Chard Snyder. “As part of Ascensus, we’ll continue to provide a no-noise atmosphere to our advisors, clients, and business partners via a highly personalized approach that incorporates flexibility and customization in addition to technology and compliance expertise.”

“Chard Snyder is an ideal anchor business for Ascensus’ expansion into the CDH and benefit administration space,” says Raghav Nandagopal, Ascensus’ executive vice president of corporate development and M&A. “With this acquisition, we are aligning to the market trends of the consolidation of savings, retirement, and health solutions—and we are delighted with the potential growth runway it entails.”

“In addition to possessing a scalable technology platform and outstanding service delivery capabilities, Chard Snyder’s core values align nicely with Ascensus’ client-first approach,” continues Nandagopal. “We believe they provide a foundation for strong organic growth in our newly formed Health division, and we will look for opportunities to enhance this and other areas of our business to support Ascensus’ immediate and long-term growth plans.”

About Ascensus

Ascensus helps more than 7 million Americans save for the future—retirement, education, and healthcare—through technology-enabled solutions. With more than 35 years of experience, the firm offers tailored solutions that meet the needs of asset managers, banks, credit unions, state governments, financial professionals, employers, and individuals. Ascensus supports over 54,000 retirement plans, more than 4 million 529 education savings accounts, and a growing number of ABLE savings accounts. It also administers more than 1.5 million IRAs and health savings accounts. As of December 31, 2017, Ascensus had over $163 billion in total assets under administration. For more information about Ascensus, visit ascensus.com.

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MEDIA INQUIRIES:

Roberta Hess
Ascensus
Senior Vice President Marketing & Communications
Tel: 215-648-1426
Media@ascensus.com

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Funds advised by Apax Partners to acquire remaining minority stake in Vyaire Medical from BD

Apax

Chicago and London, March 19, 2018 – Funds advised by Apax Partners (“the Apax Funds”) today announced they have entered into a definitive agreement to purchase from BD (Becton, Dickinson and Company) its remaining ownership interest in Vyaire Medical, Inc., a global leader in respiratory care.

Upon completion of the transaction, which is expected to occur by the end of April (subject to customary closing conditions), Vyaire Medical will be 100% controlled by the Apax Funds.

The Apax Funds acquired a majority stake in Vyaire Medical, previously BD’s Respiratory Solutions business, in October 2016. BD initially retained a minority stake in the newly independent company through a joint venture with the Apax Funds. Today, Vyaire Medical is the leading pure play medical device company in the respiratory space. With approximately $800 million in annual sales, Vyaire Medical is active in manufacturing and distributing both respiratory and anesthesia/surgical consumables as well as capital equipment for respiratory diagnostics and ventilation. Vyaire thereby supports the care of chronic and acute respiratory patients as well as the airway management of surgical patients across the healthcare continuum.

Steven Dyson, Partner at Apax Partners, said, “Since the Apax Funds acquired a majority stake in Vyaire Medical in October 2016, strong progress has been made by the business. A new senior management team led by CEO Dave Mowry has established key functions, delivered operational improvements, upgraded commercial capabilities and made two accretive acquisitions. It was on the basis of this progress, and the promise that we continue to see for the business, that we sought to acquire BD’s minority stake. We would like to thank the BD team for being excellent partners and supporting the company through its history.”

Dave Mowry, Vyaire’s President and Chief Executive Officer, said, “We are pleased with the progress our team has achieved over the past 18 months in establishing Vyaire Medical as a focused and leading global respiratory solutions provider with the objective of improving patient outcomes and increasing value for our customers. Our success in standing up Vyaire Medical as an independent company also has been made possible by the support of BD and the contributions from Apax Partners, which has provided our team with a range of capabilities, including the expertise from its Operational Excellence team of dedicated functional specialists.”

Funds advised by Apax Partners to acquire remaining minority stake in Vyaire Medical from BD

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 legacy 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. Apax Partners’ Main Buyout 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.

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

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Nordic Capital acquires Ober Scharrer Group, a leading ophthalmology outpatient chain in Germany

Nordic Capital

Nordic Capital Fund IX (“Nordic Capital”) today announced the signing of the acquisition of Ober Scharrer Group (“OSG” or “the Group”). OSG is Germany’s largest provider for treatments for major causes of blindness and visual impairment as well as non-invasive treatments and diagnosis of eye disorders.

OSG, founded in 1982 and headquartered in Fürth, Germany, offers a broad spectrum of specialised ophthalmic treatments and provides high quality medical care to both public and private patients. Key services provided are surgical treatments such as cataract operations and Intravitreal Operative Drug Application (IVOM) for degenerative eye disorders. The Group has 900 employees performing more than 85,000 treatments per year across its c. 80 clinics in Germany.

As a leading healthcare investor with a 25-year track record of building high quality, sustainable healthcare businesses, Nordic Capital intends to support and further develop Ober Scharrer in line with its current strategy.

“The opportunity for future growth in the fragmented ophthalmic outpatient market is extensive and we are excited about the prospects as we continue to build our business. With Nordic Capital we have found a partner and owner that share our dedication to medical excellence, patient satisfaction and quality of services as well as our vision for growth. We believe Nordic Capital’s extensive experience in healthcare, both in and outside Germany, will be very valuable in the years to come,” comments Sibylle Stauch-Eckmann, CEO of OSG.

“Nordic Capital has followed this sector for several years, observing how OSG has continued to build its strong position and reputation for delivering medical excellence. Nordic Capital looks forward to investing in and supporting OSG’s further development and growth in its field of expertise where we see a strong demand for specialised, high quality centres to provide treatments,” says Joakim Lundvall, Partner at the Advisor to the Nordic Capital Funds.

With the acquisition of OSG from Palamon Capital Partners, Nordic Capital continues to build its healthcare franchise in the German speaking region. Since inception, the Nordic Capital Funds have invested in over 20 healthcare platforms across Europe and the USA.

The parties have agreed to not disclose the financial details. The transaction is subject to customary regulatory approvals.

 

Media contacts:

Katarina Janerud, Communications Manager
Advisor to the Nordic Capital Funds
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com

 

About Ober Scharrer Group

The Ober Scharrer Group was established in 1982 by two physicians Dr Ober and Dr Scharrer. Headquartered in Fürth, the company now has c. 80 facilities across Germany, 900 employees and delivers more than 85,000 treatments per year. Key group services include cataract operations and Intravitreal Operative Drug Application (IVOM) for degenerative eye disorders, as well as non-invasive eye treatments and the diagnosis of eye disorders. For more information on the Ober Scharrer Group refer to www.osg.de

 

About Nordic Capital

Nordic Capital is a leading private equity investor in the Nordic region with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a proven track record. Core sectors are Healthcare, Technology & Payments, Financial Services, Industrial Goods & Services and Consumer & Retail, and key regions are the Nordics, Northern Europe, and globally for Healthcare. Since inception in 1989, Nordic Capital has invested EUR 12 billion in close to 100 investments. The Nordic Capital Funds are based in Jersey and are advised by advisory entities, which are based in Sweden, Denmark, Finland, Norway, Germany and the UK. For further information about Nordic Capital, please visit www.nordiccapital.com

 

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Sarnova becomes a new subsidiary within Patricia Industries

Investor

Patricia Industries, a part of Investor AB, has signed an agreement with Water Street Healthcare Partners and Sarnova founder Matthew D. Walter to acquire Sarnova Holdings, Inc., the leading U.S. specialty distributor of healthcare products in the emergency preparedness and acute care markets. Sarnova provides a wide range of highly differentiated, mission-critical products, and valued added services – including product selection, training, inventory management and logistics, as well as custom kitting – to its customers and vendor partners.

Sarnova was formed in 2008 when Water Street merged two leading specialty distributors. Over the next ten years, Sarnova completed eight acquisitions to expand its suite of medical products and services. Today, the company has full national coverage and a clear leadership position in both its end markets. Within Emergency Preparedness, Sarnova commercializes products such as automated external defibrillators, emergency response kits and specialty consumables to a broad range of customers including fire departments, ambulance companies, law enforcement and the federal government. Within Acute Care, Sarnova offers innovative respiratory and anesthesia products to hospital emergency, critical care and neonatal intensive care departments. Its focus has enabled Sarnova to develop strong differentiation in its products and value-added services.

The enterprise value amounts to USD 903 m. For the 12-month period ending in December 2017, sales amounted to USD 555 m. and the EBITDA margin was approximately 12 percent. Since 2012, annual sales growth, most of which has been organic, has averaged 6 percent. EBITDA growth and cash conversion have been strong over the same period.

Patricia Industries will inject approximately USD 500 m. in equity for majority ownership of the company. The remainder of the acquisition will be financed by external debt and equity participation by Water Street, Mr. Walter, the board, management and other key individuals.

“Sarnova has a strong and dedicated management team and a clear leadership position in attractive market niches, characteristics we typically look for when adding new companies to our portfolio”, comments Investor AB CEO Johan Forssell.

Upon closing of the acquisition, Sarnova becomes Patricia Industries’ third North American subsidiary, in addition to BraunAbility and Laborie, which were acquired in 2015 and 2016 respectively.

“In Sarnova, we see a great company that has both impressive historical performance and significant, durable long-term growth potential. Its asset-light business model makes the company highly cash generative”, says Noah Walley, Co-Head of Patricia Industries. “We are looking forward to working with Sarnova’s executive team to further invest in and develop the company”, he adds.

“I am so proud of our team’s success. This new partnership with Patricia Industries will further strengthen Sarnova’s capacity to serve our customers, vendors and employees and fulfill our mission to save and improve patients’ lives. Simply put, the Wallenberg family and the Investor Group have a values-oriented culture, much like Sarnova’s culture, and we foresee a very bright future as a part of their family”, says Sarnova CEO Jeff Prestel.

Chris Sweeney, partner, Water Street, adds, “It has been an honor to work with Matt, Jeff and the entire Sarnova team over the past ten years. Together, we created and executed a strategic plan that grew the company into a market leader that is making a meaningful impact in the acute care and emergency medical services markets. Patricia consistently demonstrated its cultural alignment with us throughout our discussions and will be a strong home for Sarnova.”

The acquisition is subject to approval by the relevant competition authorities. Closing is expected during the second quarter 2018. The transaction is not of the kind subject to disclosure obligation by Investor pursuant to the EU Market Abuse Regulation.

Patricia Industries, a part of Investor AB, makes control investments in best-in-class companies with strong market positions, brands and corporate cultures within industries positioned for secular growth. Our ambition is to be the sole owner of our companies, together with strong management teams and boards. We invest with an indefinite holding period, and focus on building durable value and capturing organic and non-organic growth opportunities.

Sarnova is the leading national specialty distributor of healthcare products in the emergency medical services (EMS) and acute care markets. The company is comprised of four major business units: Bound Tree Medical, Cardio Partners, Emergency Medical Products and Tri-anim Health Services. For more information, visit www.sarnova.com.

Water Street is a strategic investor focused exclusively on health care. The firm has a strong record of building market-leading companies across key growth sectors in health care. It has worked with some of the world’s leading health care companies on its investments including Johnson & Johnson, Medtronic, Smith & Nephew and Walgreen Co. Water Street’s team is comprised of industry executives and investment professionals with decades of experience investing in and operating global health care businesses. The firm is headquartered in Chicago. For more information about Water Street, visit www.waterstreet.com.

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Nordic Capital forms a leading European dental clinic platform

Nordic Capital

Funds advised by Nordic Capital (“Nordic Capital”) today announced the formation of a leading European dental clinic group, comprising the acquisition of three fast-growing and quality focused dental clinic chains in the Netherlands, Switzerland and Germany, as well as an innovative dental technology and laboratory company with a strong base in the German market (the “Group”).

As part of the transactions, Nordic Capital has signed agreements to acquire Top Mondzorg BV, the owner of Dental Clinics Nederland and TopOrtho (“Dental Clinics”) with a combined 88 clinics in the Netherlands and Adent Cliniques Dentaires Groupe SA (“Adent”) with 22 clinics in Switzerland. Nordic Capital acquired Adent and Dental Clinics from Oaktree Capital Management. In addition, Nordic Capital has agreed to acquire DPH Dental Partner Holding GmbH, Germany’s largest dental laboratory operator and SFE Beteiligungsgesellschaft mbH, the owner of Zahnstation, the Cologne-based dental clinic chain with 6 locations.

Nordic Capital intends to continue the investment into the Group’s leading quality standards, best-in-class operating model and strong local brands, which are recognised for the best clinical environments, leading edge technology and highly trained staff by patients and dentists alike. With its scale and expanding presence in the most attractive European dental care markets, the Group will be at the forefront of innovation, remaining focused on providing the best dental care for its patients.

“Through these acquisitions Nordic Capital will establish a leader in the European dental services markets with best in class operational capabilities and a strong track record of organic and acquisitive growth. The European dental care markets remain very fragmented and there is significant potential to continue to actively drive consolidation. We aim to draw on Nordic Capital’s extensive experience from ownership of high quality and rapidly expanding healthcare clinic chains, including the leading European veterinary care provider AniCura, to capitalise on this growth opportunity. We look forward to working together with management to continue to grow the Group in its existing markets in the Netherlands, Switzerland, Germany, and beyond” says Jonas Agnblad, Partner, Advisor to the Nordic Capital Funds.

Nordic Capital is a leading healthcare investor with a 25-year track record of building high quality, sustainable healthcare businesses in Europe and the US.

The transactions are subject to customary regulatory approvals.

 

Media contacts:

Katarina Janerud, Communications Manager
Advisor to the Nordic Capital Funds
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com

About Dental Clinics

Dental Clinics is an innovative, leading dental care provider in the Netherlands with 88 dental and orthodontic clinics operating under the Dental Clinics and TopOrtho brands. The modern clinics offer a full range of general and specialist dental treatments and serve more than 500,000 patients annually. The Company was founded in 2007 and has subsequently expanded through organic growth and a successful clinic acquisition strategy. Dental Clinics’ patient-oriented operating model is underpinned by strong focus on team work, relentless quality management and an efficient organisation. The Company is focused on offering high quality dental care in a modern and safe environment.

About Adent

Adent is a quality focused dental chain with 22 large clinics in Switzerland, and the only Swiss dental care provider operating across the French and German speaking regions of the country. The Company was founded in 1997 when the first clinic was opened in Ecublens, and has subsequently expanded through clinic acquisitions and the opening of new sites. Adent’s clinics offer a full range of general and specialist dental treatments, and operate extended opening hours in accessible locations to ensure best service and quality of care for its patients.

About Dental Partner Holding

Dental Partner Holding is a leading European provider of high technology dental laboratory services, operating a country-wide network of 35 laboratories in Germany under the Flemming Dental brand together with 3 locations in Norway under the Artinorway brand. Founded in 1998, the Company is headquartered in Hamburg with a technology centre in Leipzig for the modern, digitally enabled manufacturing of dental prostheses. The Company’s operations are based on the highest quality standards, comprehensive local services to dentists and efficient centralised manufacturing using the latest digital technologies.

About Zahnstation

Zahnstation is a fast-growing dental chain in Germany, currently operating a network of 6 dental clinics in the Cologne area. Zahnstation’s clinics offer a range of general and specialist dental treatments, with a focus on high quality care and patient convenience through extended opening hours and accessible locations.

About Nordic Capital

Nordic Capital private equity funds have invested in mid-market companies primarily in the Nordic region since 1989. Through committed ownership and by targeting strategic development and operational improvements, Nordic Capital enables value creation in its investments. The Nordic Capital Funds invest in companies in northern Europe and in selected investment opportunities internationally. The most recent fund is Nordic Capital Fund VIII with EUR 3.5 billion in committed capital, principally provided by international institutional investors such as pension funds. The Nordic Capital Funds are based in Jersey, Channel Islands, and are advised by the NC Advisory companies in Sweden, Denmark, Finland, Norway, Germany and the UK. For further information about Nordic Capital please see www.nordiccapital.com

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Gilde Healthcare company RAD-x continues Buy & Build with acquisition of Swiss Medical Imaging Centers

GIlde Healthcare

Utrecht, The Netherlands – RAD-x, a France-based operator in diagnostic imaging and a portfolio company of Gilde Healthcare, announced that it has acquired Swiss Medical Imaging Investment SA (SMII), which operates the imaging centres Centre d’Imagerie Médicale de la Chaux-de-Fonds, Centre d’Imagerie Médicale du Chablais and Centre d’Imagerie Médicale du Chablais Valaisan.

SMII is a leading diagnostic imaging provider in the Swiss cantons of Neuchâtel, Vaud and Valais and was founded and developed by the radiology entrepreneur Dr. Pierre Chevalley, who as part of this transaction becomes a shareholder in RAD-x.

With the acquisition of SMII, RAD-x expands its national reach and capabilities and strengthens its position as the partner of choice for diagnostic imaging centres and radiologists by combining medical excellence with state of the art management capabilities. With this transaction RAD-x is now able to offer the full range of imaging services from general to very specialized imaging as well as interventional radiology. Next to its expansion in Switzerland, RAD-x is progressing on its development in Germany and France.

 

About Gilde Healthcare
Gilde Healthcare is a specialized European healthcare investor managing two business lines: a venture & growth capital fund and a lower mid-market buy-out fund. Gilde Healthcare’s venture & growth capital fund invests in medtech, diagnostics, digital health and therapeutics. The portfolio companies are based in Europe and North America. Gilde Healthcare’s lower mid-market buy-out fund invests in profitable European healthcare services companies with a focus on the Benelux and Dach-region. The portfolio consists of healthcare providers, suppliers of medical products and other service providers in the healthcare market. Since 2001 Gilde Healthcare has raised €800 million ($1 billion) for its specialized funds. For more information, visit the company’s website at www.gildehealthcare.com

Gilde Healthcare

 

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Stone Point Capital to acquire Genex Services from Funds advised by Apax Partners

Apax Digital

Wayne, PA, – Feb. 9, 2018 – Genex Services (“Genex”), a leading provider of cost containment services to the workers’ compensation, disability and auto industries, announced today that funds managed by private equity firm Stone Point Capital LLC (”Stone Point”) have entered into a definitive agreement to acquire a majority interest in Genex from funds advised by Apax Partners, a global private equity firm. The transaction is expected to close in the first quarter of 2018.

Founded in 1978, Genex helped introduce the medical management concept and has become one of the largest and most experienced medical cost containment and disability management providers today. Genex offers a broad continuum of services including utilization management, case management, bill review, independent medical examinations, Medicare Set-Asides, and Social Security Disability Insurancerepresentation.

“This transaction renews a successful partnership between Genex and Stone Point. Stone Point had previously acquired the company in 2007 before selling to the Apax Funds in 2014. Both Apax Partners and Stone Point have been strong business partners of Genex and supported the expansion of its service capabilities both organically and through acquisitions,” said Peter Madeja, Genex’s President and Chief Executive Officer.

“We are excited to partner with Stone Point,” said Madeja. “Genex is a well-established leader in workers’ compensation, auto, and disability management solutions. Our partnership with Apax Partners allowed us to significantly expand our portfolio of solution offerings across the continuum of managed care. We believe that Stone Point’s commitment to continue to grow and enhance Genex’s capabilities will further enrich the value proposition we offer to customers through the depth and breadth of resources we bring to the market.”

Andrew Cavanna, Partner at Apax Partners, added: “We would like to thank Peter and the rest of the management team for being excellent partners over the past four years and for successfully growing Genex’s business and capabilities. We wish the team every success for the future.”

“We are thrilled to be partnering with Peter and the Genex team again to further their continued expansion within the markets they serve,” added Chuck Davis, CEO of Stone Point.  “We have a strong relationship with Peter and his talented management team, which has been developed over more than ten years, and we now look forward to the opportunity to support Genex as the company continues to build upon its long history of success.”

SunTrust Robinson Humphrey served as the exclusive strategic and financial advisor to Genex. Financial terms were not disclosed.

About Genex Services, LLC
Genex Services (www.genexservices.com) is the trusted provider of managed care services enabling clients to transform their bottom lines while enhancing the lives of injured and disabled workers. Genex is a managed care leader with more than 2,900 employees and 41 service locations throughout North America. The company serves the top underwriters of workers’ compensation, automobile, disability insurance, third-party administrators and a significant number of Fortune 500 employers. In addition, Genex is the only company that delivers high-quality clinical services enhanced by intelligent systems and 360-degree data analysis. The company consistently drives superior results related to medical, wage loss, and productivity costs associated with claims in the workers’ compensation, disability, automobile, and health care systems.

About Stone Point Capital
Stone Point Capital LLC (www.stonepoint.com) is a financial services-focused private equity firm based in Greenwich, CT.  The firm has raised and managed seven private equity funds – the Trident Funds – with aggregate committed capital of approximately $19 billion.  Stone Point targets investments in the global financial services industry, including investments in companies that provide outsourced services to financial institutions, banks and depository institutions, asset management firms, insurance and reinsurance companies, insurance distribution and other insurance-related businesses, specialty lending and other credit opportunities, mortgage services companies and employee benefits and healthcare companies.

About Apax Partners
Apax Partners (www.apax.com) 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 $51 billion*. Apax Partners’ Main Buyout 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.

* Funds raised since 1981, commitments converted from fund currency to USD at FX rates as at 31 December 2017.

Media Contacts

Genex Services
Tom Kerr, Genex Services | +1 610-964-5213 | tom.kerr@genexservices.com

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

Stone Point Capital
Jim Henderson | +1 203-862-3162 | jhenderson@stonepoint.com
Mary Manin | +1 203-862-3126 | mmanin@stonepoint.com

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Gilde Healthcare invests in business intelligence for healthcare by acquiring Performation

GIlde Healthcare

Utrecht, The Netherlands – Gilde Healthcare today announces the acquisition of Performation, market leader in business intelligence for healthcare in the Netherlands. The investment of Gilde Healthcare will facilitate the expansion of the company’s service offering to improve operational, tactical and strategic control of healthcare clients.

Healthcare business intelligence is growing fast
Business intelligence is an essential tool in modern hospital management. Reports on quality, costs and operations provide vital input to managers taking decisions. The demand for business intelligence in the healthcare sector is forecast to grow by 10-15% annually. “Better insights on the effectiveness of the care delivered not only enables increasing quality of care, but also has the potential to decrease its costs,” comments Hugo de Bruin, partner with Gilde Healthcare.

Broadening service offering
Performation has grown rapidly over the last years. “The investment by Gilde Healthcare enables us to introduce new services to manage and control the quality of healthcare companies. We will continue to develop new products in house, such as our successful Notiz product for DRG registration assurance. In addition, we will consider acquiring companies with strong existing service offerings to add to our platform,” says Steven Lugard, CEO of Performation. “The recent acquisition of revenue forecasting provider Datinzo is an example of this. It strengthens our position as a full range business intelligence supplier for the healthcare sector.”

Improving healthcare delivery
The investment in Performation fits well with the profile of Gilde Healthcare as a specialist investor. De Bruin: “We are constantly looking for companies that positively contribute to the quality of healthcare delivery. Performation’s partnership with IKNL is a good example of this value add. Performation supports the Dutch cancer research foundation in reporting treatment outcomes. With this information, cancer care in the Netherlands is constantly improved. Demand for healthcare information is growing, not only with healthcare managers, but also among patients and doctors. Performation is a leading expert in extracting this data and transforming it into the desired information.”

About Performation
Performation Healthcare Intelligence is a provider of healthcare specific business intelligence solutions to monitor costs, processes and quality. The company supports clients in taking well-informed decisions that contribute to the delivery of high quality and effective care. With over a hundred enthusiastic consultants and business intelligence experts, Performation is a leading player in the Dutch market.

About Gilde Healthcare
Gilde Healthcare is a specialized European healthcare investor managing two business lines: a venture & growth capital fund and a lower mid-market buy-out fund. Gilde Healthcare’s venture & growth capital fund invests in medtech, diagnostics, digital health and therapeutics. The portfolio companies are based in Europe and North America. Gilde Healthcare’s lower mid-market buy-out fund invests in profitable European healthcare services companies with a focus on the Netherlands, Belgium and Germany. The portfolio consists of healthcare providers, suppliers of medical products and other service providers in the healthcare market. Since 2001 Gilde Healthcare has raised €800 million ($1 billion) for its specialized funds. For more information, visit the company’s website at www.gildehealthcare.com

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