• Attracted by the strong performance of BioGeneration Ventures (BGV), new investors joined BGV III including the European Investment Fund, whose contribution comes from InnovFin Equity Facility and the Dutch Venture Initiative II
• BioGeneration Ventures focuses on entrepreneurship and innovation in therapeutics, medical devices and diagnostics in Europe
• BGV III already made 4 investments and expects to make 15 investments in total

Naarden, The Netherlands, 27 June, 2017 – BioGeneration Ventures (BGV), the early stage life sciences venture capital firm with funds focussed on European biotechnology companies, announces today an investment by the European Investment Fund (EIF) and other new investors in BGV III, taking the total capital commitments to EUR 66m, out of a maximum EUR 75m. The Fund is supported by the “InnovFin – EU Finance for Innovators” initiative under Horizon 2020 and the European Fund for Strategic Investments.

The new fund will build on the track record of the first two BGV funds which yielded major successes including Dezima Pharma and Acerta Pharma. BGV was founding investor in both companies which were sold within three years at multi-billion dollar valuations. At USD 7 billion Acerta was the largest private exit in Europe in the biotech sector to date. These companies are typical examples of the biotech sector’s ability to generate so-called “unicorns” delivering outsized returns for investors.

The firm’s third fund will focus on therapeutics, medical devices and diagnostics, within Europe, in particular in Benelux and Germany. Four investments have already been made from the fund into German immuno- oncology company Catalym, and Dutch companies Escalier Biosciences, Scenic Biotech and Varmx, working on autoimmune diseases, target discovery, and haematology respectively.

Edward van Wezel, Managing Partner said: “Our third fund makes BGV amongst the largest life sciences funds dedicated to seed investments in Europe. Over the last decade we have made over twenty investments in the European life sciences ecosystem. We’ve observed an ever-increasing interest from pharma in acquiring innovations earlier. With this third closing we are significantly exceeding our target fund size and are delighted with the commitment of EIF and other new and existing investors in BGV III. We expect to reach the maximum fund size of EUR 75m before the end of 2017.”

Pier Luigi Gilibert, Chief Executive of the European Investment Fund, said: “The EIF enhances SMEs access to finance. By investing in BGV’s new fund, the EIF is continuing its long-standing support for entrepreneurship and innovation in early stages of company development.”

BGV operates as a joint venture with Forbion Capital Partners, providing access to the later stage perspective on early innovation and a global network of experts and pharma companies. The BGV team has broad experience in investment, life sciences, business development, and commercial operations. The team includes experienced biotech entrepreneurs as venture partners and advisors.

-Ends-

About BioGeneration Ventures (BGV)

BioGeneration Ventures (BGV) is a specialist life sciences venture capital firm, with a focus on early stage European biotech, medtech, and diagnostics companies. BGV has a strong track record of significant financial returns through investing in innovations in healthcare and providing the expertise to build world- class teams. BGV manages funds investing in areas where the science, the unmet medical need, and the potential to promptly demonstrate a significant proof of concept all come together.

Successful investments include divestment of Dezima Pharma to Amgen for up to USD 1.55 billion in total deal value and in Acerta Pharma for up to USD 7 billion with a guaranteed payment of USD 4 billion. In both companies BGV was founding investor. The Acerta Pharma sale was the largest exit ever of a privately held European biotech company. Over the last decade BGV has made over 20 investments.

About EIF

The European Investment Fund (EIF) is part of the European Investment Bank Group. Its central mission is to support Europe’s micro, small and medium-sized businesses (SMEs) by helping them to access finance. EIF designs and develops venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth, and employment.

About the Investment Plan for Europe

The Investment Plan focuses on strengthening European investments to create jobs and growth. It does so by making smarter use of new and existing financial resources, removing obstacles to investment, providing visibility and technical assistance to investment projects. The Investment Plan is already showing results. The projects and agreements approved for financing under the European Fund for Strategic Investments – the financing arm of the plan – so far are expected to mobilise over EUR 168 billion in total investments across 28 Member States and to support more than 387 000 SMEs.

On 14 September 2016, the European Commission proposed extending EFSI by increasing its firepower and duration as well as reinforcing its strengths. Find the latest EFSI figures by sector and by country here.

About InnovFin Equity

InnovFin Equity is part of InnovFin – EU Finance for Innovators, the new generation of EU financial instruments and advisory services developed under Horizon 2020, the EU’s research and innovation programme, to help innovative firms access finance more easily.

InnovFin Equity consists of several predominantly early stage equity products. The products aim at improving access to risk finance by early-stage RDI-driven SMEs and small midcaps through supporting mainly early-stage risk capital funds that invest, on a predominantly cross-border basis, in individual enterprises. SMEs (and small midcaps) located in Member States or in Horizon 2020 Associated Countries are eligible as final beneficiaries. The aggregate investments to venture capital funds made out of InnovFin SME Venture Capital are expected to support between EUR 1.6 to EUR 2 billion of equity financing to final beneficiaries.

About DVI II

Publicly launched in March 2016, DVI-II is a EUR 200m Venture and Growth Capital Fund-of-funds initiative of the EIF and PPM Oost, supported by the Dutch Ministry of Economic Affairs.

DVI-II intends to build a balanced portfolio of 15 to 20 venture and growth capital funds that are able to demonstrate a strong investment focus on the Netherlands. DVI-II supported Fund Managers need to focus on companies in their early or development stages. Eligible funds should also have a strong innovative angle, by focusing on companies operating in different technology areas, such as ICT, Life Sciences, Cleantech or Energy.

As an advisor to DVI-II, the EIF can rely on over 20 years of experience in the European Venture Capital market and successful implementation of similar initiatives in close collaboration with national and regional partners across Europe.

• EQT VII to acquire a 20% stake in Germany-based Ottobock, the global market leader in medical mobility solutions ranging from prosthetic and orthotic products to wheelchairs and accompanying services

• Founded by Otto Bock in 1919, the Company has been an industry innovator and has launched the first completely microprocessor-controlled lower limb prosthesis, among others

• EQT will support majority owner Professor Hans Georg Näder and the management team on Ottobock’s continued growth trajectory and focus on innovation

The EQT VII Fund (“EQT VII”) has entered in to an agreement to acquire a 20% stake in Ottobock (or “the Company”) from Otto Bock HealthCare GmbH.

Since its foundation in 1919 by Otto Bock, the Company has been a synonym for revolutionizing, innovating and moving forward medical mobility technology. Otto Bock started the first serial production of prosthetic components post World War I. After World War II, the Company introduced the modular solution for upper and lower limb prosthesis. In 1997, Ottobock launched the C-Leg, the world’s first completely microprocessor-controlled lower limb prosthesis solution. Over nearly a century, Ottobock’s products have allowed users to achieve a better quality of life, more mobility and independence. True to this philosophy, Ottobock has actively supported the Paralympic Games since 1988 and has been a partner of the International Paralympic Committee since 2005.

Ottobock is headquartered in Duderstadt, Germany and operates subsidiaries in more than 50 countries with more than 7,000 employees worldwide. In 2016, the Company generated more than EUR 880 million in sales and EQT valued the Company at EUR 3.15 billion.

“I am very pleased to take EQT on board as a partner who shares the values of a family-backed company given its Wallenberg background. EQT also has a track record of sustainable value creation and growth”, says Professor Hans Georg Näder, majority shareholder and grandson of the company founder. “I am convinced that EQT’s experience in developing companies will allow us to continue Ottobock’s success story well beyond the Company’s 100th birthday”, concludes Professor Näder.

“We are impressed by Ottobock’s long heritage of innovation and its ability to define the landscape of mobility solutions in the area of wearable home rehabilitation regarding the growing market of human bionics. Based on EQT’s deep healthcare expertise, and as one of the most active investors in the sector, we will be a strategic partner to Professor Näder, the management and the Company. We look forward to working together and contributing to the continued success of Ottobock”, added Marcus Brennecke, Partner at EQT Partners and Investment Advisor to EQT VII.

About EQT

EQT is a leading alternative investments firm with approximately EUR 37 billion in raised capital across 24 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 Ottobock

Ottobock develops medical technology products and fitting concepts for people with limited mobility in the fields of Prosthetics, Orthotics, Human Mobility (wheelchairs, rehabilitation devices) and MedicalCare. Subsidiaries in over 50 countries offer quality “Made in Germany” worldwide and employ more than 7,000 people. Ottobock has been a family-managed company since its founding in 1919 and has also been supporting the Paralympic Games with its technical know-how since 1988.

More info: www.ottobock.com

Eurazeo PME has announced the signing of an exclusivity agreement to invest €78 million in the In’Tech Medical group, alongside management.

This investment in equity and convertible bonds will provide Eurazeo PME with approximately 80% of share capital. Eurazeo PME And In’Tech wil l jointly seek to fast-track the company’s growth trajectory by boosting its global leadership, particularly through external growth transactions. Eurazeo PME will then succeed to TCR Capital, majority shareholder since September 2012. The deal is expected to close in July 2017. This acquisition is the Eurazeo PME III fund’s second investment.

Founded in 1999, In’Tech Medical manufactures orthopedic surgical tools to be used in the highly demanding spinal surgery sector. In’Tech Medical group is a world leader in the following markets: knees, shoulders and hips. Currently with 500 employees, the In’Tech Medical group owns two French production sites (Rangs-du-Fliers in the north of France and Toulon in the south of France), one in the USA (Athens in Alabama) and in Malaysia (Penang). With two-thirds of its sales generated in the US market, In’Tech Medical is a key international player. In 2016, its revenues reached 55M€ with an average annual growth rate of 15% over the past 15 years. The In’Tech Medical group also acquired the American company, Turner Medical in 2015, and the Malaysian company, Ortho Solutions in 2016.

Working with the management team headed by Chairman and CEO Laurent Pruvost, Eurazeo PME will help In’Tech Medical consolidate its global leadership in the orthopedic surgical instruments manufacturing sector, through both organic growth and acquisitions. The Group’s operational excellence strategy will benefit from access to Eurazeo PME’s international business network and offices, particularly in the U.S., as well as its corporate expertise (digital technology, CSR, etc.).

“We were delighted by the management team and by the growth prospects of a Group with solid fundamentals,” stated Emmanuel Laillier, Managing Director of Eurazeo PME. “ Eurazeo PME wishes to support the rapid international development of In’Tech Medical, a real “pocket multinational,” particularly  through external growth acquisitions.”

“We welcome the guidance of Eurazeo PME, a long-term shareholder, in stepping up our development,” said Laurent Pruvost, Chairman and CEO of In’Tech Medical. “With a professional investor like Eurazeo PME at our side, we can consider new external growth opportunities on a global scale with confidence.”

About Eurazeo PME

Eurazeo PME is an investment firm and subsidiary of Eurazeo dedicated to majority investments in French SMEs with a value of less than €200 Million.. Eurazeo PME acts as a long-term shareholder, providing its portfolio companies with all the financial, organizational, and human resources they need for a sustained transformation. With an investment horizon generally ranging from 4 to 6 years, the group guides its portfolio companies in creating sustained and, hence, responsible growth. This commitment is formalized and deployed through a CSR (Corporate and Social Responsibility) policy. In 2016, Eurazeo PME generated €965 million in consolidated revenues and accompanied the development of 12 companies: Dessange International, Léon de Bruxelles, Péters Surgical, Colisée, Vignal Lighting Group, Groupe Flash, MK Direct, Orolia, AssurCopro, Smile and The Flexitallic Group and Fondis Bioritech as a minority shareholder. These companies are solidly positioned on their markets and led by experienced management teams.

Investment AB Latour has, through its business area Latour Industries, signed an agreement to acquire VIMEC S.R.L., a leading Italian manufacturer of platform lifts and stair lifts. Sellers are IGI Private Equity and Finint who together bought 100 per cent of the company in 2015. The acquisition of VIMEC is a natural next step for Latour Industries after the acquisition of Aritco during the second quarter 2016.

VIMEC’s headquarters and manufacturing are based in Luzzara, Italy. The products are sold through partners and distributors primarily in southern Europe. The group has 166 employees and the net sales in 2016 were EUR 44 m, with good operating margin.

“I am very pleased to welcome Latour as our new owners. They are a long-term industrial owner that can support VIMEC’s growth plan in both new products and new geographies. In addition, it is very beneficial for the company to be in the same group as Aritco. We see great joint opportunities on the global market for platform lifts and stair lifts”, says Guiseppe Lupo, CEO of VIMEC S.R.L.

“VIMEC is a high-performing company with a strong product portfolio of solutions that improve accessibility both in private homes and in public environments. VIMEC strongly complement our existing holding Aritco by adding significantly strengthened presence in key markets in Europe. In addition, VIMEC adds both new technologies and products to the product portfolio. We see a long-term growing need for product solutions for better accessibility. Our long-term goal is to build a new business unit within the Accessibility segment. This objective will most likely require more acquisitions in this area”, says Bjorn Lenander, CEO of Latour Industries.

“We are extremely pleased with this transaction which sees the transfer of a leading Italian company to an international industrial owner which will continue the path of development and growth, alongside the management of Vimec led by Giuseppe Lupo, whom we thank for the excellent work done together,” says Angelo Mastrandrea, Partner of IGI and the manager in charge of the operation. Matteo Cirla, Managing Director of IGI, further adds, “The sale of Vimec shows the robustness of IGI’s investment strategy which focuses on industrial firms representing excellence in Italian manufacturing.”

Impact on the Latour Group
The acquisition will from the very beginning have a positive impact on the Latour Group’s earnings per share. The acquisition will increase the net debt in the Latour Group with about EUR 45 m.

Göteborg, May 18, 2017

Investment AB Latour (publ)
Jan Svensson, CEO

For further information please contact:
Björn Lenander, CEO Latour Industries AB, +46 70 819 47 36
Mikael Johnsson, Director of Business Development, Investment AB Latour, +46 733 233 606

Investment AB Latour is a mixed investment company consisting primarily of wholly-owned industrial operations and an investment portfolio of listed holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of nine substantial holdings with a market value of about SEK 47 billion. The wholly-owned industrial operations generated a turnover of approximately SEK 8 billion in 2016.

Gimv enters into a partnership with MVZ Holding, a leading group of medical practices

Gimv has entered into a partnership with the existing shareholders of MVZ Holding AG, a leading group of Swiss medical practices, by acquiring a substantial stake in the group and committing additional capital for further growth.

MVZ Holding focusses on providing best in class primary medical care and has grown successfully by executing a disciplined expansion strategy. The company currently runs more than 25 medical practices in different regions in Switzerland and plans further expansion within the country.

Gimv is excited about the opportunity to partner with the company’s exceptionally strong and experienced incumbent management team. Founder and management will remain in their respective roles and will continue to be major shareholders of the company. Gimv will complement the existing team by providing strategic and financial support for the further roll out of their growth strategy.