Tag Archives: healthcare

Ahlström Capital becomes the largest shareholder in both Detection Technology and Glaston

 Home
Ahlström Capital has acquired shares representing approx. 39% of Detection Technology  Oyj and approx. 18% of Glaston Coorporation from Oy GW Sohlberg Ab(“GWS”). Ahlström Capital has hence become the largest shareholder in both companies. AC Invest Seven and Eight BV, wholly owned subsidiaries of Ahlström Capital, have today, 21 June 2017, acquired shares in Detection Technology and in Glaston from GWS. The acquisition price for the shares acquired in Detection Technology was EUR 18.27 per share, which represents a 11 % premium on the volume weighted average price for the last 30 days.
The total acquisition price for the acquired Detection Technology shares was approx. EUR 95.The acquisition price for shares acquired in Glaston was EUR 0.44 per share, which represents a 10 % premium

on the volume weighted average price for the last 30 days.

The total acquisition price for the acquired Glaston shares was approx. EUR 14.9 million.

Detection Technology is a global provider of X-ray imaging subsystems, components and services for medical, security and industrial applications.

The company’s net sales was EUR 76 million and EBIT 15 million in 2016.
Detection Technology has over 200 active customers in 40 countries. The company employs over 400 people in Finland, China and the US. Detection Technologies shares are listed on Nasdaq First North Finland.

Glaston is an international pioneer in glass processing technology and a leading supplier of lifecycle solutions in glass processing machines. The company provides a wide and advanced range of glass processing heat treatment machines, maintenance and upgrade services, tools and expert services.

Glaston’s net sales was EUR 107 million and comparable operating profit EUR 3 million in 2016. The company has over 400 employees, most of them located in Finland and China. Glaston’s shares are listed on NASDAQ Helsinki Ltd.
“These two companies fit well to Ahlström Capital as the deal broadens our portfolio with two attractive high-tech businesses.

Both companies have strong management and show good development potential with sustainable value creation opportunities”, says Hans Sohlström, President and CEO of Ahlström Capital.“

Detection Technology ,with a strong customer service approach, has had sever al years of impressive net sales growth.

We believe that the positive development will continue as the company focuses not only on customization and flexible production, but also on cost efficient product design at competitive manufacturing costs. Glaston has a leading technological position and a global sales and service network well in place to benefit from a recovering market. The competitiveness of the company has improved thanks to actions taken by the management during the last years”,

Hans Sohlström comments on the acquired companies.

Categories: News

Tags:

Ferd partners with Fürst

alt

Ferd is now taking its first steps in the healthcare sector by collaborating with Fürst Medisinsk Laboratorium. The aim is for the collaboration to expand Fürst’s services and markets.

Fürst Medisinsk Laboratorium has 400 employees and specialises in medical biochemistry, clinical pharmacology, microbiology and pathology. The company analyses samples from over 12,000 patients a day, making it the largest medical laboratory in the Nordic region.

The company was founded by Valentin and Astri Fürst in 1950.

“My father joined Fürst in the mid-1970s and eventually became a co-owner. The company has been 100% owned by my family since 1995”, comments Asle Helgheim, who has been involved in the company since joining its board in 1992.

Long-term partner
It was announced just before Easter that Ferd was buying 40% of the share capital of Fürst Medisinsk Laboratorium. The company continues to be majority-controlled by Asle Helgheim and family after the sale of shares to Ferd.

“We chose to partner with Ferd because it possesses a great deal of expertise as well as significant resources. I don’t mean its financial resources so much as its people. Ferd will contribute to the company through its significant expertise, which will be essential for developing Fürst further, both on existing platforms and into new markets”, comments Asle Helgheim.

Going forward, the company wants to offer its services in new areas, including in genetics. The company is also in the process of developing the IT tool WebMed, which is a modern patient notes system designed to give primary care doctors a better overview of each patient’s progress.

“Over the long term, we want to invest beyond Norway, initially in Sweden, and also to continue to improve our core business. To do this, we need a high-quality, ambitious and long-term partner”, explains Asle Helgheim.

Efficient solutions
At Ferd, the investment team consisted of Trond Solberg, Maria Syse-Nybraaten, Gustav Martinsen and Julie Wiese. Ferd and Fürst had been in contact with one another and had been exploring the possibility of a partnership since summer 2016.

“Following a strategic decision to gain exposure to the healthcare sector, we are very pleased with the opportunity of partnering with the Helgheim family to develop a company as exciting as Fürst”, comments Maria Syse-Nybraaten.

The entire article is available (in Norwegian) here.

Categories: News

Tags:

RB Enhances Consumer Health Position with the Completion of its Acquisition of the Mead Johnson Nutrition Company

RB

June 15, 15:00 (BST) Slough, UK–RB(Reckitt Benckiser) is pleased to announce the completion of the acquisition of

the Mead Johnson Nutrition Company (“Mead Johnson”).

 

The transaction takes RB to a global market leadership position in consumer health and hygiene. Mead Johnson brings the addition of two infant & child nutrition Powerbrands Enfa and Nutramigen, and is a natural extension of RB’s existing health portfolio which is trusted around the globe by millions of consumers.

 

Rakesh Kapoor, RB chief executive, said: “The closure of the acquisition marks an inflection point in RB’s evolution to become a leader in consumer health and hygiene . By combining the best of RB’s global scale with MJN’s science -based innovation, RB is well positioned to deliver further value for all stakeholders. We continue to execute on our strategy of providing innovative health solutions for healthier lives and happier homes to millions of people around the world.”

 

Mead Johnson will initially operate as a separate division within RB and be led by Aditya Sehgal, who joins RB’s Executive Committee. Aditya’s previous roles included responsibility for RB’s operations in China & North Asia, RB’s global health care division and RB’s North American business. The Mead Johnson division will continue its mission to nourish the world ’s children for the best start in life. Mead Johnson’s infant and children’s nutrition business will increase RB’s revenues in consumer health by approximately 90%*, as well as increasing its developing market scale by approximately 65%*.

 

RB expects the acquisition to be accretive to adjusted diluted earnings per share in the first full year following completion and double-digit accretive by the third full year following completion . The post-tax return on invested capital is expected to exceed RB’s cost of capital by the fifth full year following completion.

Categories: News

Tags:

EQT Mid Market to sell its stake in swiss smile to Jacobs Holding AG

Logo

  • EQT Mid Market to sell its stake in swiss smile, a leading quality dental chain in Switzerland, to Jacobs Holding AG
  • During EQT Mid Market’s investment period, swiss smile has developed its corporate platform, made several add-on acquisitions and strongly increased revenues as well as strengthened the management team

The EQT Mid Market fund (“EQT Mid Market”) has entered into an agreement to sell its stake in swiss smile (or the “Company”) to Jacobs Holding AG (“JAG”).

swiss smile is headquartered in Zurich and was founded in 2002 by the dentists and entrepreneurs Dr. Haleh Abivardi and Dr. Golnar Abivardi. The Company operates eleven clinics in Switzerland, provides a full range of dental care and services, and differentiates itself through a strong brand, high medical standards, convenient opening hours, a modern infrastructure and an outstanding patient experience. In addition, swiss smile has its own cosmetic products range in a joint venture which are distributed internationally.

EQT Mid Market invested in swiss smile in August 2013. The plan was to build and develop its corporate platform, expand the market position and accelerate growth. swiss smile has undergone a significant transformation together with EQT Mid Market through several key initiatives:

–       Development of the organizational structure to prepare for further growth

–       Acquisition of four dental practices to strengthen the footprint in Switzerland and manifest the already strong position in Zurich

–       Opening of two new greenfield practices in Winterthur and Berne

–       Strengthening the management team

–       Substantial investments in marketing and corporate branding

The growth initiatives have resulted in strong financial performance, with swiss smile nearly doubling revenues in the period from 2012 to 2016.

“Since EQT invested in swiss smile, the market position in Switzerland has been strengthened further through acquisitions and greenfield openings while at the same time accelerating financial growth. The Company has evolved into a strong platform in its service offering to both patients and dentists. swiss smile is well prepared to continue to drive consolidation of the Swiss dental market. The management team has done an impressive job and we look forward to seeing swiss smile develop as part of JAG who have recently invested in the dental sector also in the Nordics and UK,” says Vesa Koskinen, Partner at EQT Partners and Investment Advisor to EQT Mid Market.

The parties have agreed not to disclose the financial details of the transaction which is expected to close by the end of June 2017.

Contacts
Vesa Koskinen, Partner at EQT Partners, Investment Advisor to EQT Mid Market, +358 9 69624737
EQT Press Office, +46 8 506 55 334, press@eqtpartners.com

About EQT
EQT is a leading alternative investments firm with approximately EUR 36 billion in raised capital across 23 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 information: www.eqtpartners.com

About swiss smile

swiss smile is a leading quality dental chain in Switzerland. Founded in 2002 by the dentists and entrepreneurs Dr. Haleh Abivardi and Dr. Golnar Abivardi, swiss smile today operates eleven clinics in Switzerland. swiss smile provides a full range of dental care and services and differentiates itself through a strong brand, high medical standards, convenient opening hours, a modern infrastructure and an outstanding patient experience. Both in Switzerland and internationally, swiss smile has won several prizes for its innovative concept, exceptional services and excellent quality.

More information: www.swiss-smile.com

About Jacobs Holding AG
Jacobs Holding is a global professional investment firm based in Zurich and founded in 1994 by entrepreneur Klaus J. Jacobs. Its sole economic beneficiary is the Jacobs Foundation, one of the world’s leading charitable foundations dedicated to child and youth development. Jacobs Holding has an established track record of holding its investment for long periods with the aim to successfully compete and become global market leaders in their respective fields. Previous investments include Jacobs Suchard AG and Adecco Group AG, current investments are Barry Callebaut AG, Colosseum Smile and Southern Dental.

More information: www.jacobsag.ch

 

Categories: News

Tags:

Eurazeo PME enters into exclusive negotiations to acquire In’Tech Medical, a global leader in the manufacture of orthopedic surgical, instruments and implants

Eurazeo

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.

Categories: News

Tags:

Latour acquires VIMEC S.R.L., a leading Italian manufacturer of platform lifts and stairlifts

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.

Categories: News

Tags:

Pharmalink announces the appointment of a new CEO

Industrifonden’s portfolio company Pharmalink, a specialty pharmaceutical company, announces the appointment of Renee Aguiar-Lucander as Chief Executive Officer.

Pharmalink has appointed Ms Aguiar-Lucander to lead the Company’s expansion and strategic development, following the clinical success to date of Nefecon®: a Phase 3 ready compound with orphan designation. Ms Aguiar-Lucander will, in conjunction with the Pharmalink team, pursue a range of initiatives, including raising private or public capital for the Phase 3 trial, expanding the Company’s development platform, in-licensing of additional compounds as well as partnering. Pharmalink’s current CEO, Dr Johan Häggblad, will take on the role of COO and will continue to lead clinical and product development.

Prior to joining Pharmalink Ms. Aguiar-Lucander was Partner and COO of Omega Fund Management, an international healthcare fund based in Boston. She was previously a Partner at the venture group of 3i Group plc, where she managed the European and US legacy healthcare and technology portfolios, and had responsibility for the group’s public holdings.

Prior to this Ms. Aguiar-Lucander was European Group Head and Managing Director at a US based global investment bank. She has more than 12 years of corporate finance experience, including merger and acquisitions, corporate restructurings and raising private and public capital for growth companies in Europe and the US. She has held senior management positions in a technology growth company and has significant corporate board experience in both private and public companies. Ms Aguiar-Lucander holds a BA in Finance from Stockholm School of Economics and a MBA from INSEAD.

Lennart Hansson of Industrifonden, Pharmalink’s lead investor representative, said: “We are delighted with the appointment of Renee as CEO at Pharmalink. Her appointment comes at a key time for the Company, now that it has completed its highly successful NEFIGAN Phase 2b clinical trial with Nefecon® in patients with IgA nephropathy at risk of end stage renal disease. This is an exciting time for Pharmalink, as it prepares for the start of its Phase 3 study with Nefecon®.”

“I am excited to take up the CEO position at Pharmalink and join a team which has achieved truly exciting clinical results in the NEFIGAN trial. The company is well positioned to see accelerated growth and expansion through work with clinicians, KOLs and regulators to bring products to the market which address unmet medical needs, and make a true difference to patients and their families.” said Renee Aguiar-Lucander.

Categories: People

Tags:

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

Gimv

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.

Categories: News

Tags:

Almi Invest invests in the medtech company B! BB Instruments

Press Release • May 03, 2017 07:13 CEST
Superstartup of the Year (2016) Ulf Skarin, The Week’s Stores, Mikael Karlsson, Almi Invest, Charles Walther, Bibb Instruments, Maria Kesslling, Almi Invest and PO Lindsten, Weekly Stores. 

Almi Invest invests just under SEK 1 million in B! BB Instruments, a company in Lund that develops an instrument that enables quick and easy testing of suspected cancer patients. The issue of a total of SEK 4.6 million also includes Swedish Growth Fund, Christer Fåhraeus via Fårö Capital and a number of private and institutional investors. The money will go for launch of the company’s first product in the Nordic market. 

B! BB develops EndoDrill, an instrument that facilitates the diagnosis of cancer tumors by drilling into the tissue. This makes it possible to reach deep-lying tumors. This differs from today’s methods that are difficult to capture deeply lying tissue. 

The first version of EndoDrill is used to take samples in the stomach, where tumors are difficult to diagnose with today’s methods. Today, repeated samples must be taken or waived until the tumor has grown in size, causing unnecessary suffering to the patient. Often surgery is required to make a final diagnosis. With EndoDrill, you can easily set an early and safe diagnosis, which allows the patient to get the right treatment faster. 

EndoDrill has the potential to become a new standard method for sampling in deep-lying tumors, says Per Antonsson, Investment Manager at Almi Invest. This would save a lot of money for healthcare as you can reduce the number of tests and avoid unnecessary operations. 

B! BB already has orders for EndoDrill from several hospitals in Sweden and deliveries of sterile disposable instruments are scheduled for 2017. The company was named 2016 for the Superstartup of the Year by Almi Invest in cooperation with Veckans Affärer. 

https://www.va.se/nyheter/2016/05/10/arets-superentreprenor/ 

Financing enables the launch of EndoDrill and continued development of other closely related biopsy instruments for major indications, such as lung, intestinal, prostate and breast cancer. Our vision is to improve diagnostics for many of the most common forms of cancer, and we see a significant market potential in this, says Fredrik Lindblad, CEO B! BB Instruments. 

For further information, please contact: 

Per Antonsson, Investment Manager Almi Invest, tel 070 872 87 17, mail per.antonsson@almiinvest.se
Fredrik Lindblad, CEO B! BB, tel 0708-999 486, mail fredrik.lindblad@bibbinstruments.com
Maria Kessling, Communications Manager Almi Invest, tel. 076-880 88 10, mail maria.kessling@almiinvest.se 

About Almi Invest 

Almi Invest is Sweden’s most active investor in startups. We make investments throughout the country through 8 regional venture capital companies and a national venture capital company in GreenTech. Almi Invest manages approximately SEK 3 billion and has since invested approximately 600 startups. Our best holdings have been acquired by Google, Microsoft, Qlik and Apple, for example, or listed on different stock exchanges. Almi Invest is a venture capital company within the Almi Group.

Categories: News

Tags:

Gimv invests in emerging immuno-oncology company ImCheck Therapeutics

GIMV

Gimv invests in emerging immuno-oncology company ImCheck Therapeutics

Gimv today announces a EUR 5 million investment in French ImCheck Therapeutics, an emerging player in the field of cancer and auto-immune immunotherapies that focuses on the development of first-in-class antibodies that activate the immune system against different cancer types. This investment is part of a total Series A financing of EUR 20 million from a consortium of specialized life sciences investors including Kurma, Boehringer Ingelheim Venture Fund (BIVF), Idinvest and Life Science Partners (LSP).

ImCheck Therapeutics was founded in 2015 as a spin-off from the Paoli-Calmettes Cancer Institute in Marseille (France). The company is developing innovative antibody therapeutics in the field of immuno-oncology, based on scientific assets originating from the pioneering work of Prof. Daniel Olive. The funds will be used to advance its lead candidates towards clinical development, as well as to progress its discovery programs.

Karl Nägler, Partner in Gimv’s Health and Care platform, on this transaction: «We are excited to partner with ImCheck and with such a strong syndicate of first class biotech investors, given the game-changing potential of ImCheck’s development candidates for the treatment of cancer. After earlier investments in Topas Therapeutics, G-Therapeutics, Endostim, Spineart and Breath Therapeutics, ImCheck Therapeutics in the sixth new investment of Gimv’s Health & Care team over the past 12 months.»

Categories: News

Tags: