• EQT Mid Market to sell diagnostic imaging service company I-MED Radiology Network to the Permira funds
• EQT Mid Market invested in I-MED in April 2014 together with Singaporean Sovereign Wealth fund GIC and Caisse de dépôt et placement du Québec, one of Canada’s leading institutional fund managers
• During EQT Mid Market’s ownership, I-MED has had substantial organic growth, increased scale through multiple add-on acquisition, invested significantly in new equipment and technology and enhanced operating efficiency

The EQT Mid Market fund (“EQT Mid Market”) has, together with co-investors, entered into an agreement to sell I-MED Radiology Network (”I-MED” or “the Company”) to a company backed by the Permira funds.

I-MED is the leading diagnostic imaging service provider in Australia with 204 clinics and performs almost five million procedures per year. During EQT Mid Market’s ownership, the Company has grown the number of fully owned clinics with more than 30% and the number of radiologist by more than 25%. I-MED has during the last three years further strengthened its market position in Australia and for 2017 generated revenues of almost AUD 700 million. I-MED has a strong and dedicated staff with over 3,500 employees, including more than 300 radiologists who serve over 30,000 referrers in the growing healthcare market in Australia.

• During the ownership of EQT Mid Market, I-MED has successfully enhanced its business on multiple fronts:
• Achieved strong organic growth through establishing new clinics and entering new hospital contracts
• Successfully completed a number of value accretive add-on acquisitions
• Made significant investments into equipment, new technology and people
• Implemented strategies for further enhancing the customer experience

Steven Rubic, CEO of I-MED, said: “We are proud to have been part of EQT, one of the world’s most respected global investment firms, with a strong experience within the healthcare sector. EQT have supported I-MED’s growth focused strategy and their ownership approach has provided us with a solid foundation for I-MED’s further growth.”

Fredrik Åtting, Partner at EQT Partners, Investment Advisor to EQT Mid Market, added: “We are very impressed by I-MED’s management, doctors and staff for the professional and consistent service they provide to the Australian healthcare system. Through a combination of organic and inorganic growth, I-MED has evolved into the undisputed market leader in Australia. It has been a privilege to support I-MED’s management team under the leadership of Paul McClintock and Steven Rubic.”

The transaction is expected to close in Q1 2018.

Morgan Stanley acted as financial advisor and Herbert Smith Freehills as legal advisor to EQT Mid Market.

Contacts:
Fredrik Åtting, Partner at EQT Partners, Investment Advisor to EQT Mid Market, +49 892 554 9950

EQT Press Contact, +46 8 506 55 334

About EQT
EQT is a leading alternative investments firm with approximately EUR 38 billion in raised capital across 25 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

About I-MED
I-MED is one of the world’s leading diagnostic imaging providers. It was formed in 2000 and offers comprehensive and high-quality services including X-ray, PET, CT, MRI, Nuclear Medicine, Ultrasound, Mammography and Interventional Procedures. Across Australia, I-MED operates 204 clinics covering all major metropolitan areas and significant parts of rural Australia. Each year almost 5 million patient procedures are performed by I-MED’s more than 300 radiologists, 50 nuclear medicine physicians, and 3,500 staff.

More info: www.i-med.com.au

Mérieux Développement and Gimv, together with the management team, announce that they have signed an exclusivity agreement with Stage Capital, Stiplastics Healthcaring’s majority shareholder, with a view to acquiring the company.

Stiplastics Healthcaring, which was founded in 1985 and has been owned by Stage Capital (formerly NBGI) since 2013, designs, develops and manufactures standard and smart plastic solutions for the pharmaceutical industries and the health sector. Based in Saint-Marcellin (Isère – France), the company currently employs over 90 people on a 10,000 m2 industrial site opened last October. The Group expects to achieve turnover of EUR 21 million in the current 2017/2018 financial year, 98% of which will be generated by the health sector. Exports account for 55% of Stiplastics’ turnover, thanks to its development of devices for the dispensing of solid-form medications (especially in the USA).

Stiplastics Healthcaring has over 30 years’ experience in medical plastics. It works with customers throughout the entire process, from formulating the exact needs until the product is launched. It is a recognised specialist in the area of treatment observance, and its range of “intelligent” pill dispensers encourage treatment observance, and make administering and taking medicines easier and safer. It has also built solid expertise in solutions for respiratory diseases. Stiplastics Healthcaring works in partnership with pharmaceutical industry leaders and has recently developed an inhalation device.

The company has a strong development potential in the connected health sector, with new products in the pipeline and a modern workshop for the production of electronic products in a controlled environment. In order to meet the new needs of patients and healthcare actors faced with changing pathologies and uses, and more specifically the increasing prominence of connected care, the Group has set up its IoC [Internet Of Care]® unit, which is dedicated to designing, developing and producing e-health medical devices. In addition, several partnership agreements were finalised in 2017 in what is an extremely promising sector, which will benefit patients and practitioners alike.

Mérieux Développement and Gimv[1] have joined forces to acquire Stiplastics Healthcaring. They will contribute their complementary expertise in the health sector and support the growth of this French company. Stiplastics Healthcaring will remain under the operational management of Jérôme Empereur and Laetitia Le Gall, who have successfully developed this high-performing industrial platform, whilst creating real sales momentum in recent years.

“The Mérieux Développement – Gimv consortium is an ideal tandem that will allow Stiplastics Healthcaring to grow further and accelerate its development. They bring to the table health sector specialists as well as substantial financial resources, which is perfectly suited to support the Group’s growth challenges” explained Jérôme Empereur, Stiplastics Healthcaring’s Chairman-CEO.

“Our decision to invest in Stiplastics Healthcaring is based on our assessment of the strength of the management team and our shared ambition on the company’s future. In particular, we have jointly identified the increased need for innovative solutions to improve observance and administration of medicines. We are delighted to be the new reference shareholder of this French company and to be given this opportunity to support its innovative strategy and international development plans.” says Jean-François Billet, Senior Partner at Mérieux Développement.

“Stiplastics Healthcaring has all the necessary assets to become a European market leader, including cutting-edge production facilities, excellent regulatory expertise and a deep understanding of its clients’ needs. We are very proud that Jérôme Empereur and the entire management team have chosen the Mérieux Développement-Gimv consortium to support them in their ambitious growth plans,” adds Benoit Chastaing, Partner Health & Care at Gimv.

The transaction is expected to close by the end of January 2018. No further financial details about this transaction will be disclosed.

January 2018

Partners and Friends of Ufenau Capital Partners, we are delighted to announce,that Ufenau portfolio company Altano Gruppe GmbH(“Altano”) has acquired Equine Clinic Grosswallstadt(“Pferdeklinik Grosswallstadt”) and therewith expands its geographical footprint in Germany.

The Equine Clinic Grosswallstadt is a leading regional Champion specializing in equine medical diagnostics and surgery. The 53 highly qualified employees including the two renowned vets Holger Fischer and Souel Maleh treat around 6,000 patients each year. The Equine Clinic has an outstanding reputation in surgery, equine dentistry, regenerative equine medicine including stem cell therapies as well as sports medicine in addition to the general, horse-medical treatment and therapy offer.

In addition, the clinic owns a physical therapy centre for post medical treatments. Dr. Holger Fischer, CEO of the Grosswallstadt Equine Clinic: “With Ufenau and Altano, we have found a partner who, at eye level, has a good understanding of the market in order to improveour equine clinic sustainably.”

Dr. Victor Baltus, CEO of Altano, adds: “This third acquisition within 6 months is another important step in strengthening the regional presence of Altano in the greater Rhine-Main area.

We are delighted that we have found such a great partner with the Equine Clinic Grosswallstadt.”

Yours sincerely,

the Ufenau Team

About Ufenau Capital Partners

Ufenau Capital Partners is a privately owned Swiss Investor Group headquartered at the Lake Zurich which advises private investors, family offices and institutional investors with their investments in private equity. Ufenau Capital Partners is focused on investments in service companies in German-speaking Europe and invests in the Education & Lifestyle, Business Services, Healthcare and Financial Services sectors. Through a renowned Group of experienced Industry Partners (Owners, CEOs, CFOs), Ufenau Capital Partners pursues an active value-adding investment approach on eye-level with entrepreneurs and managers.

Utrecht, the Netherlands and Frankfurt am Main, Germany – Gilde Healthcare, the European specialist healthcare investor is pleased to announce the opening of its office in Frankfurt am Main, Germany.

The Frankfurt office will focus on healthcare service providers and suppliers headquartered in Germany, Austria and Switzerland (DACH). With its local presence, the Gilde Healthcare Team will provide collaborative, hands-on support to business owners and managers and help them execute their envisaged growth plans and buy & build strategies. Gilde Healthcare’s buy-out franchise concentrates on lower-mid-market companies which generate EBITDA between €2-15 million and are valued at Enterprise Values of up to €150 million. The equity ticket in a single transaction will amount up to €50 million.

Expansion into the DACH region is a logical step for Gilde Healthcare as it represents Europe’s largest healthcare market with an annual spend of more than €450 billion, a stable regulatory environment and well-funded insurance systems. The significant size of the healthcare industry allows Gilde Healthcare to invest in more than 40 sub-segments including care provider, pharma outsourcing service provider, medical products & equipment supplier, laboratories, medical IT companies etc. Gilde Healthcare is already active in the DACH region with its investment in RAD-X, an outpatient radiology chain. It invested in RAD-X in 2016 to consolidate the German, Swiss and French radiology market via a buy & build strategy.

The Frankfurt office will be headed by Dr Fabian Braemisch who joined Gilde Healthcare as a Partner of the healthcare buy-out team. He will be responsible for sourcing new DACH investments and work closely with management teams to support the portfolio companies’ growth plans and contribute specialist expertise through its operational partners and industry advisors. The German team will be complemented by additional investment professionals in the next 12 months.

Dr Braemisch is a German citizen and joined Gilde Healthcare from Bridgepoint, a pan-European Private Equity house, where he invested in larger-mid-market companies with a focus on Healthcare and Manufacturing & Industrials across Europe. Prior to that, Dr Braemisch worked in the Investment Banking Division of Goldman Sachs in both London and Frankfurt.

Jasper van Gorp, Managing Partner, comments:

“We believe that Gilde Healthcare can create significant value add not only for our investors but also for healthcare industry participants by combining our sector focus with local presence. The opening of a German office shall further strengthen our relationships with entrepreneurs, management teams and advisors to continue our successful buy-out strategy and help healthcare companies to provide ‘better care at lower cost’ across Europe.”

Fabian Braemisch, Partner and Head of Germany, comments:

“I am highly excited to join Gilde Healthcare and lead the German team’s investment efforts in the DACH market. There is a large pool of high-quality healthcare businesses with significant growth and consolidation opportunities and we are looking forward to working together with motivated Management teams to kick-start their companies’ next phase of growth.”

Background Information on Gilde Healthcare

Gilde Healthcare is a specialized European healthcare investor managing two business lines: lower mid-market buy-out funds and venture & growth capital funds. The Gilde Healthcare buy-out funds invest in profitable European healthcare services companies, e.g., healthcare providers, service providers and various suppliers in Europe with a focus on the Benelux and DACH regions. The venture & growth capital funds invest in medtech, digital health and therapeutics in Europe and North America. Since 2001 Gilde Healthcare has raised €800 million ($1 billion) for its specialized funds.

Contact Germany

Bockenheimer Landstrasse 2-4 | Opernturm
60306 Frankfurt am Main | Germany
Phone: +49 69 667 748 040
braemisch@gildehealthcare.com

Contact Netherlands
Newtonlaan 91 | PO Box 85067
3508 AB Utrecht | The Netherlands
Phone: +31 30 219 25 65

healthcare@gildehealthcare.com
www.gildehealthcare.com

Apax Digital’s backing of China’s leading online marketplace for aesthetic medical treatments is the Fund’s second investment 

New York and London, 3 January 2018 – Apax Digital (“the Fund”) has today announced that it has led the $60 million Series D funding round in SoYoung, the largest online marketplace for aesthetic medical treatments in China. Through SoYoung’s native app and websites, customers can research aesthetic medical treatments, doctors, and clinics, and can directly book procedures with participating providers. Apax Digital was joined in the funding round alongside new and existing investors.

The Chinese aesthetic medicine market is large and growing, driven by favourable socio-economic, demographic, and cultural trends. Against this backdrop, SoYoung, founded in 2013 and headquartered in Beijing, has experienced impressive growth and market share gains, driven by its strong value proposition connecting consumers and providers. The new funding will be used to continue to drive marketplace improvements, geographic expansion, and customer acquisition.

Jin Xing, CEO of SoYoung, said: “We are delighted to welcome Apax Digital as a partner and investor in our business. Apax Partners’ extensive track record in digital marketplaces, experience in healthcare investment, leading Chinese market presence, and proven operating team made it the ideal partner for our business as we continue to bring our app and services to a greater number of consumers. We look forward to working with Apax Digital as we move into the next phase of our growth.”

Marcelo Gigliani, Managing Partner of the Apax Digital team, said: “We have been very impressed with the strong value that SoYoung brings to both consumers and clinics, and with the company’s world-class traffic growth, engagement, and monetization model. We are eager to leverage our experience investing in digital marketplace businesses by partnering with Jin Xing and his team to continue SoYoung’s market leadership expansion over its next exciting growth phase.”

Richard Zhang, Partner and Head of Apax Greater China, said: “Apax Partners has long been actively involved in the Chinese market. With the completion of SoYoung, Funds advised by Apax Partners (“the Apax Funds”) have invested c.$400m in China during 2017. We are very pleased to work alongside Apax Digital with this investment; SoYoung is a leading player in a market with huge growth potential.”

The investment in SoYoung constitutes the eighth digital marketplace investment by the Apax Funds. Prior recent digital marketplace investments include Auto Trader (UK), Boats Group (US), idealista (Spain), SouFun (China), and Trader Corporation (Canada).

The investment also follows the announcements last month of Apax Digital’s successful raising of its $1 billion fund, which reached its hard cap, and its first investment – in Moda Operandi, a leading, multi-brand luxury ecommerce business known for selling runway apparel on an exclusive basis.

About Apax Digital
Apax Digital is a $1 billion fund raised in 2017 focused on minority and buyout investments in high-growth enterprise technology and internet companies globally.  Advised by Apax Partners, a global private equity firm, Apax Digital’s investments are focused on subsectors where Apax Partners has expertise, including vertical software, data & analytics, tech-enabled services, marketplaces, digital media, and disruptive e-commerce. For further information about Apax Digital, please visit http://digital.apax.com.

Over its more than 35-year history, Apax Partners has raised and advised funds with aggregate commitments of $51 billion*. These funds provide long-term equity financing to build and strengthen world-class companies. For further information about Apax Partners, please visit http://apax.com.

* Funds raised since 1981, commitments converted from fund currency to USD at FX rates as at 30 September 2017.

About SoYoung
Founded in 2013, SoYoung is the largest Chinese online medical aesthetic marketplace, allowing in-market consumers to research treatments, clinics, and providers, and book services directly through its proprietary platforms. The Company is a community-driven lead generation marketplace, comprised of user-generated reviews, rankings, videos, and other info about medical aesthetic treatments, doctors, and hospitals. For further information about SoYoung, please visit http://soyoung.com.

Media Contacts 

Apax Partners LLP – Global media inquiries
Andrew Kenny, Head of Communications
Tel: +44 20 7872 6371
Email: andrew.kenny@apax.com

Apax Partners LLP – NorAm and LatAm media inquiries
Todd Fogarty
Tel: +1 212 521 4854
Email: todd.fogarty@kekst.com

Apax Partners LLP – EMEA media inquiries
Greenbrook Communications
James Madsen, Matthew Goodman, Annabel Clay
Tel: +44 20 7952 2000
Email: apax@greenbrookpr.com

SoYoung – Media inquiries
Mo Lv
Tel:  +86 10 5707 6564
Email: marketing@soyoung.com

In 2018, the company, which is based in Lund, Sweden, to carry out a clinical study for the treatment and prevention of vaginal yeast infection.

Many women suffer from repeated vaginal infections without being cured. Gedea Biotech active substance acts in a new way by the fungus usually located behind loses its infectivity while other fungi and bacteria is inhibited by the substance pH-lowering properties.

The substance is naturally occurring and is also approved as a food additive and its effect gives great hopes for an effective and safe treatment that does not contribute to the emergence of antibiotic resistance.

– gedea has an interesting solution with high medical value that are able to quickly and cost-effectively get to the proof-of-concept and market, says Per Antonsson, Investment Manager at Almi Invest.

Among the investors in the issue is the investment company Porte-Monnaie, which primarily invests in unlisted companies. The company was founded in 2013 by Joakim Falk, Pouyan Kasraian and Staffan Gestrelius.

– It is gratifying that we have now established cooperation with knowledgeable and committed investors. They have great skills in general construction, sales and marketing of this type of products, says Annette Säfholm, president of gedea Biotech.