Chicago, IL (March 12, 2024) – Linden Capital Partners (“Linden”), a Chicago-based healthcare private equity firm, announced today the completion of its acquisition of Alcresta Therapeutics, Inc. (“Alcresta” or “the Company”), a leader in commercializing novel enzyme-based products designed to address challenges faced by patients living with gastrointestinal disorders and rare diseases.

Alcresta recently announced 510(k) clearance of its next-generation RELiZORB® (iMMOBILIZED LIPASE) cartridge by the Center for Devices and Radiological Health of the U.S. Food and Drug Administration. The next-generation RELiZORB device was developed to address the enteral nutrition needs of a wider population of patients living with rare diseases and is expected to launch in Q2 2024.

Linden Operating Partner Ron Labrum, who is joining Alcresta as Chairman of the Board of Directors, said, “I am very excited to join the Alcresta team to support the continuing growth of the company. Alcresta’s rapid progress has made a meaningful difference for patients living with rare diseases that struggle with fat malabsorption. Linden feels very fortunate to partner with Alcresta as it prepares for new levels of momentum and success in the years ahead.”

Daniel Orlando, CEO of Alcresta, said, “We have been very impressed with Linden’s thoughtful investment approach as we finalize launch plans for the next generation RELiZORB and accelerate R&D efforts for an iteration to treat enterally fed patients in the NICU. We anticipate considerable growth in the years to come and appreciate the added strategic planning and investment experience that Linden brings to Alcresta.”

Piyush Shukla, Partner at Linden and incoming Board member at Alcresta, added, “Linden’s investment in Alcresta is a direct result of our dedicated and longstanding medical devices and specialty pharma sector effort. We have been impressed with the organization and team that Daniel has built and are excited to partner with Alcresta on this next phase of growth.” Linden’s Ernest Waaser and Prab Chawla have also joined the Board of Directors, alongside Alcresta CEO Daniel Orlando.

Kirkland & Ellis LLP and Cain Brothers, a division of KeyBanc Capital Markets, served as legal advisor and financial advisor to Linden, respectively. Wilmer Cutler Pickering Hale and Dorr LLP and Rothschild & Co served as legal advisor and financial advisor to Alcresta, respectively. Twin Brook Capital Partners and MidCap Financial provided debt financing for the transaction.

About Alcresta Therapeutics, Inc.
Alcresta Therapeutics, Inc. is dedicated to developing and commercializing novel, enzyme-based products designed to address challenges faced by patients living with gastrointestinal disorders and rare diseases.  Alcresta currently markets RELiZORB for enterally fed patients with pancreatic insufficiency, which occurs in cystic fibrosis, pancreatic cancer, and pancreatitis, and is developing platform applications for patients with short bowel syndrome (SBS) and prematurely born infants treated in the NICU.  More information can be found at www.alcresta.com.

About Linden Capital Partners
Linden Capital Partners is a Chicago-based private equity firm focused exclusively on the healthcare industry. Founded in 2004, Linden is the country’s largest dedicated healthcare private equity firm by total buyout capital raised. Linden’s strategy is based upon three elements: (i) healthcare specialization, (ii) integrated private equity and operating expertise, and (iii) its differentiated human capital program. Linden invests in middle market platforms in the medical products, specialty distribution, pharmaceutical, and services segments of healthcare. Since its founding, Linden has invested in over 40 healthcare companies encompassing over 325 total transactions. The firm has approximately $8 billion in regulatory assets under management. For more information, please visit www.lindenllc.com.

Spineart SA today announced it has completed enrollment in its U.S. IDE trial studying the BAGUERA®C Cervical Disc Prosthesis in patients with cervical disc disease at two contiguous levels between C3 to C7 compared to a commercially marketed cervical disc implant.

The multi-center, prospective, randomized controlled trial enrolled over 300 patients at 25 sites across the United States. The primary endpoint of the study is the clinical success rate of BAGUERA®C in two contiguous levels from C3 to C7 compared with two-level cervical disc replacement with a commercially available disc replacement implant. The Company announced the completion of enrollment for its one-level IDE trial at the end of February 2024.

Jerome Trividic, CEO of Spineart, said, “The enrollment completion of our two-level BAGUERA®C IDE study marks a significant milestone in Spineart’s ambition to emerge as a global leader in spine arthroplasty. Coupled with the ongoing one-level BAGUERA®C IDE study, Spineart is spearheading the gathering of crucial long-term clinical evidence from nearly 600 artificial disc recipients across the United States. This unprecedented achievement underscores our commitment to advancing the adoption of cutting-edge technologies in spinal surgery. We extend our sincere gratitude to our esteemed investigators and their teams whose dedicated participation has been instrumental in this endeavor. We eagerly anticipate bringing these two studies to fruition.”

Domagoj Coric, neurosurgeon at Carolina Neurosurgery & Spine Associates in Charlotte, NC, and co-lead investigator of the IDE trials, stated, “The outcomes from this study will further build the level I evidence supporting the safety and effectiveness of cervical disc arthroplasty with its head-to-head comparison against another cervical implant with similar design features.”

The BAGUERA®C Cervical Disc prosthesis is evaluated in two separate IDE trials in the U.S. for one- and two-level cervical disc disease. The BAGUERA®C implant has been commercially available in selected European and worldwide markets since 2008. Internationally, early long-term feedback has shown substantial improvement in patient pain scores and functional improvement after treatment.

Today, Smile Invest announces the sale of Rovers Medical Devices B.V. (“Rovers”), the leading designer and manufacturer of sample collection devices used in the prevention and diagnostics of cervical cancer, to Halma plc (“Halma”), a global group of life-saving technology companies.

Halma will support Rovers in realizing its ambition to become the global leader in sample collection devices targeted at the prevention and diagnostics of cervical cancer and other diseases, thereby reinforcing its vital role in cervical cancer screening globally.

Rovers sees Halma as the perfect partner to realize its growth ambitions and a partner that is well aligned with its culture and mission. Halma’s extensive experience creates a solid basis for Rovers and its employees to realize the company’s strategic agenda.

In the 5-year period of working together with Smile Invest, Rovers managed to reinforce the position of its key products globally, create compelling new products and further improve the highly automated production set-up, creating a solid foundation for the Rovers’ next growth phase.

Rovers and its shareholders were advised by Lincoln International (financial advisor).

This transaction is the fourth deal of Smile Invest this year, following the exit and reinvestment in SmartSD, the sale of Microflor and the recent investment in MedEnvision.

Roel Leenders – Chief Executive Officer, Rovers
“We want to contribute to the prevention of cancer on a global scale. This mission strongly aligns to Halma’s when it comes to improving quality of care for patients. Many physicians work with us to develop the highest quality screening products that are most effective for their patients. I am grateful for Smile Invest’s support during the holding period, in which Rovers was able to grow significantly and continued to invest in its state-of-the-art, fully automated production set-up.”

Ivo Vincente and Thomas Dewever – Managing Partners, Smile Invest
“We are proud to have supported Rovers in its development as the reference in the market for cervical cancer cell sampling. As a key player in women’s health we are convinced that Rovers will remain the solution of choice for medical professionals and women worldwide. It has been a privilege to work with Roel Leenders and Rover’s management team and we wish them all the best under the Halma umbrella.”

Marc Ronchetti – Chief Executive Officer, Halma
“Rovers will broaden the range of markets we serve in women’s health and further strengthen our Healthcare sector’s position in cancer diagnosis products. We are excited by the opportunities we see to increase Rovers’ positive impact on public health. We expect its future growth to be driven by increasing global cervical screening rates, supporting the World Health Organization’s strategy to accelerate the early detection of cervical cancer.”

For further information, please contact:

Smile Invest NV

Thomas Dewever, Managing Partner: +32(0)476.423.582
Ivo Vincente, Managing Partner: +31(0)622.919.232

Rovers (www.roversmedicaldevices.com)
Rovers is a designer and manufacturer of sample collection devices used in the prevention and diagnostics of cervical cancer. Rovers’ products are principally for professional use and include its Cervex-Brush®, widely recognized as the gold standard for cervical cancer and HPV screening. Rovers’ products are used in more than 90 countries, and are sold primarily to medical diagnostic companies, as well as medical distributors, laboratories, research institutes and governments.

Smile Invest (www.smile-invest.com)
Smile Invest (Smart Money for Innovation Leaders) is a European evergreen investment firm with over €500m of assets under management, financed by 40 entrepreneurial families and with a long-term focus on innovative growth companies. Smile Invest focuses on companies active in three investment themes: digitalization, healthcare and sustainability. Since its inception in 2017, Smile Invest has invested in 17 platform companies in Belgium and the Netherlands. From its offices in Leuven and The Hague, the team supports ambitious entrepreneurs and management teams in realizing their growth plans.

Halma plc (www.halma.com)
Halma is a global group of life-saving technology companies, focused on growing a safer, cleaner, healthier future for everyone, every day. Its purpose defines the three broad markets it operates in: Health, Environment and Safety. It employs over 8,000 people in more than 20 countries, with major operations in the UK, Mainland Europe, the USA and Asia Pacific. Halma is listed on the London Stock Exchange (LON: HLMA) and is a constituent of the FTSE 100 index.

Bucharest, Romania, 4 March, 2024: Affidea Group, Europe’s largest provider of advanced
diagnostics, multi-speciality polyclinics and Centres of Excellence, announced today that it has
entered into a binding agreement to acquire MedEuropa Romania, a renowned cancer care
provider.

MedEuropa Romania operates four medical centres in Romania, spanning Constanta, Bucharest,
Brasov, and Oradea, with two further centres set to open in Iasi and Bacau during 2024. The company
is renowned for its expertise in advanced cancer care, including Radiotherapy, Chemotherapy and
broader oncology services, all of which integrate into Affidea’s primary diagnostic and polyclinic
portfolio in Romania. The acquisition adds radiotherapy services to Affidea’s capability in Romania,
complementing existing radiotherapy services that Affidea provides across its European footprint.
Philippe Jacobs, Chairman and Silviu Savin, CEO of MedEuropa commented: “We are proud to have
built a greenfield network of clinics providing high quality patient care and treatments across Romania.
We would like to thank our doctors and staff for their contributions over the past years. We believe
that an integrated care solution is optimal for oncology patients and therefore see the integration of
MedEuropa in the larger Affidea family as an ideal avenue for delivering the best care and results for
cancer patients in Romania.”

Razvan Predica, Country CEO for Affidea Romania and Hungary, stated: “Cancer is claiming far too
many lives in our communities, with approximately 100,000 people being diagnosed with an
oncological disease in Romania every year. This acquisition isn’t just about growth; it’s about standing
shoulder-to-shoulder with the National Health System and those affected by this relentless disease.
We look forward to working with the great team of MedEuropa following the closing and continue
delivering value for every individual impacted by cancer by increasing access to more comprehensive
cancer care pathway from diagnosis to treatment and follow-up.

Guy Blomfield, CEO and Chairman of the Management Board for Affidea Group, added: “At Affidea,
we have a provenance in the provision of comprehensive cancer care pathways across several
European countries, with a network of Community Clinics and Centres of Excellence which are
dedicated to providing access and high-quality care to the patient communities we serve. Romania’s
healthcare market is embracing the challenge of improving cancer survivorship outcomes, and
Affidea’s integrated service model will have an important role in helping to improve early detection
and diagnosis, as well as providing more access to radiotherapy services in community settings across
Romania. Affidea and MedEuropa, both have impressive reputations for high quality patient care, and
I am very confident that the integration of services will further enhance outcomes for oncology patients
across Romania.

Completion of the acquisition is subject to the approval of the Romanian Competition Council. Affidea
Group was advised by Rizoiu & Asociatii and Clifford Chance as legal advisors, while Deloitte served as
financial advisor. The sellers were advised by Biris Goran and Linklaters as legal advisors.

About MedEuropa
Telemos Capital in partnership with a local team of entrepreneurs, established MedEuropa to address the undersupplied Romanian radiotherapy market, with a vision of building a greenfield network of clinics across the
country. MedEuropa is committed to providing state of the art cancer treatment, with a strong focus on
radiotherapy. The company operates four clinics across Romania (in Brasov, Bucharest, Constanta and Oradea)
and is constructing additional clinics and treatment centres in Iasi (opening planned in Q1 2024), Bacau, Brasov,
and Bistrita.

About Telemos Capital
Telemos Capital (www.telemoscapital.com) invests in private European businesses, with the aim of building
great companies for the long term. Funded by family capital, it combines the flexibility and nimble decisionmaking of a family office with the active ownership and professionalism of private equity. Telemos seeks to
acquire majority stakes in businesses with the potential for sustainable growth through international
expansion, add-on acquisitions or operational improvements. Other Telemos investments in the Healthcare
Services sector include Stingray and Sanoptis (exited in 2022).

About Affidea Romania
Affidea Romania is one of the leading healthcare providers across the country, offering advanced diagnostics,
laboratory analysis and multi-specialty consultations, with 50 medical centres in 26 cities. The Affidea Romania
team consists of more than 1,500 professionals, out of which over 900 clinicians, annually providing integrated
medical services for more than 2 million patients.

About Affidea Group
Affidea (www.affidea.com) is the largest European provider of advanced diagnostic imaging, out-of-hospital and
cancer care services. Founded in 1991, the company operates 355 centres across 15 countries, providing highquality medical services to nearly 13 million patients every year. Due to its track record for patient safety, the
company has become the most awarded diagnostic imaging provider in Europe by the European Society of
Radiology, as over 80% of the centres recognised on the Eurosafe Wall of Stars belong to Affidea. Affidea is
majority-owned by Groupe Bruxelles Lambert (GBL), a leading investment holding company, focused on longterm value-creation with a stable and supportive family shareholder base.

MedEnvision (www.medenvision.com), a leader in innovative orthopaedic efficiency solutions, is thrilled to announce a pivotal partnership with Smile Invest, a distinguished European investment firm known for its focus on fostering innovative growth companies. This strategic partnership aims to fuel MedEnvision’s international expansion, drive new product development, and unlock new market opportunities.

Founded on the principles of enhancing efficiency in orthopaedic surgeries, MedEnvision has revolutionized the operating theatre with its patented product range, including the Gripper set, the EsySuit range, and specially designed retractors. These innovations offer dual benefits: they optimize time and resources by freeing up OR staff for more critical tasks while providing surgeons with enhanced control in surgeries involving the hip, knee, and shoulder. Currently, MedEnvision’s solutions have reached 26 countries, with a strong presence in the Benelux and the US.

MedEnvision’s mission lies in further improving the practices of an orthopaedic surgeon for the benefit of the patient, the nursing staff, the surgeon and the healthcare institutions. This mission is fully endorsed by new partner Smile Invest, who will further support this growth story together with MedEnvision’s management team and founders.

Dries Goyens, CEO of MedEnvision: “We are honoured to welcome Smile Invest into our company. Their proven track record in nurturing high-potential healthcare innovations aligns with our vision. This collaboration not only validates the impact of our products but also equips us with the strategic and financial support necessary to broaden our global footprint and continue improving surgical workflows. From the start, we felt the click between our teams and we look forward to a successful partnership.”

Bart Cauberghe, Managing Partner at Smile Invest, highlights: “MedEnvision represents the type of innovation and strategic foresight we value at Smile Invest. Their solutions directly address some of the most pressing challenges in healthcare today, such as improving procedural efficiency and mitigating the impact of nursing staff shortages. We are confident in MedEnvision’s growth trajectory and its role in advancing orthopaedic care for an ageing population aspiring to maintain an active lifestyle.”

Smile Invest

Smile Invest (Smart Money for Innovation Leaders) is a European evergreen investment firm with over €500m of assets under management, financed by 40 entrepreneurial families and with a long-term focus on innovative growth companies. Smile Invest focuses on companies active in three investment themes: digitalization, healthcare and sustainability. Since its inception in 2017 Smile Invest has built a portfolio of 15 companies. From its offices in Leuven and The Hague, the team supports ambitious entrepreneurs and management teams in realizing their growth plans.

Contact Smile Invest:

Bart Cauberghe, Managing Partner
bart.cauberghe@smile-invest.com | T. +32 476 33 66 69

Nicolas Costers, Investment Director
nicolas.costers@smile-invest.com | T. +32 476 44 63 23

The Company also welcomes new Chief Marketing and Chief Revenue Officers to bolster strategic growth.

AMES, Iowa, Feb. 20, 2024 /PRNewswire/ — Trace Genomics (Trace), the industry leader in DNA-based soil intelligence, today announced its successful Series B funding round at $10.5 million led by existing investors S2G Ventures and Ajax Strategies, as well as new investor Rabo Ventures. The round exceeded expectations and demonstrated strong investor confidence in Trace’s trajectory and growth strategy. With this additional funding, Trace plans to expand its commercial growth, making its offerings available to more farmers and agronomists.

Poornima Parameswaran, CEO and Co-founder of Trace, stated, “The Series B funding represents a pivotal milestone for Trace, positioning us to accelerate our reach with cutting-edge soil DNA intelligence solutions, and advancing sustainable agriculture with a focus on farmer profitability. Our commitment to providing customers with innovative technology and comprehensive support with operational excellence aims to improve agricultural business outcomes and boost productivity for farmers and agronomists.”

Trace Genomics, a leader in soil health innovation, has developed a groundbreaking way to understand what’s happening beneath the surface of our farms. By examining the DNA of organisms in soil, farmers can get an individualized and detailed picture of soil health. This approach not only highlights what’s going on with the soil right now but also helps farmers make better decisions for their crops in the future. Trace Genomics helps farmers identify potential diseases before they become a problem, understand the soil’s fertility levels, and offer personalized recommendations to improve crop health and yield. This means farmers can grow more with less, using the optimal biologicals and chemicals, and making farming more sustainable for all.

“We’re excited to partner with Trace as they continue to advance and scale their technology,” said Cristina Rohr, Managing Director at S2G Ventures. “Their innovation provides deep soil insights, fostering sustainable crop production and improved decision-making across the agricultural value chain. Trace Genomics empowers farmers, manufacturers, and agronomists with better risk assessment and demand forecasting, leading to enhanced yield and cost management.”

In 2024-25, Trace is set to broaden its reach, aiming to deliver its pioneering data and insights to an increased number of growers and agronomists, building on both existing and new partnerships. To support this growth, the company is delighted to announce the addition of two key leaders to its team, significantly enhancing its commercial capabilities. Adam Burnhams joins as the Chief Marketing Officer, bringing over 30 years of global agribusiness experience, encompassing sales, marketing, research, and development roles across startups, basic, and post-patent companies. Tim Yandel joins as the Chief Revenue Officer, a seasoned sales professional with 20 years of experience, including 15 years in leadership positions, with expertise in machine learning, AI, computer vision, big data, marketing tech, and climate tech.

This strategic expansion builds upon last year’s successes, which included the launch of its flagship product TraceCOMPLETE, the establishment of key commercial partnerships in the US and Canada, the refinement of its commercial strategy for enhanced market penetration, and compelling success stories from farmers and agronomists about how Trace’s insights have improved their financial outcomes.

“While it’s widely acknowledged that the soil microbiome significantly impacts crop outcomes, soil-biology analysis has historically been underutilized in agronomists’ toolkits due to cost, complexity, and time requirements. However, Trace’s cutting-edge soil intelligence platform has successfully addressed these challenges. As a result, it provides growers with an unprecedented level of insight and truly data-driven recommendations,” said Shishir Sinha, Investment Director at Rabo Ventures. “We are excited by the paradigm shift that Trace brings to agriculture – unlocking the power of biologicals while enabling the adoption of NUE solutions, and making pest management predictive”

About Trace Genomics
Trace Genomics is a pioneer in the use of hi-definition genomics, soil science, and machine learning to activate hidden insights in soil for economic and ecosystem benefits. Where most companies deliver a partial picture, we provide a comprehensive and precise understanding of the soil’s composition—analyzing the soil’s biology, physical properties, and chemistry. Trace Genomics delivers targeted database insights and actions at cost-speed-scale-accuracy for partners who are advancing modern farming solutions. More information can be found at www.tracegenomics.com.

Contacts
Kaylee Tanner
Trace Genomics
kaylee.tanner@tracegenomics.com

SOURCE Trace Genomics

NEW YORK, Feb. 5, 2024 – Health Prime International (“Health Prime” or “the company”), a provider of revenue cycle management (“RCM”) solutions for physician practices, announces that Aquiline Capital Partners LP (“Aquiline”) has made a majority investment. Aquiline is a private investment firm, investing in financial services and related technologies, with over $10 billion in assets under management as of September 30, 2023.

Founded in 2004, Health Prime provides tailored RCM solutions to over 800 clients across 50 specialties. The company offers comprehensive end-to-end services through a multi-shore delivery model that differentiates it from peers. Health Prime’s proprietary Datalytics and Prime Flow technologies are compatible with nearly all EMRs, generating valuable insights and driving powerful results for healthcare practices. The company has completed 4 acquisitions since 2019 and is well positioned to continue to execute strategic M&A.

Pranil Vadgama, CEO at Health Prime, said: “We are excited to continue our growth trajectory with the support of Aquiline. Their deep network and experience within healthcare technology will be invaluable as we work together to achieve our long-term goals. This investment is not just a change in sponsorship but a strategic move to accelerate Health Prime’s growth and services.”

Benedict Baerst, Partner at Aquiline, said: “Effectively navigating the complexities of revenue cycle management is becoming increasingly critical for providers in today’s healthcare ecosystem. Health Prime’s unique tech-enabled delivery model has consistently produced successful outcomes for its clients. We look forward to partnering with Pranil and the Health Prime management team to execute our collective vision for the business.”

Guggenheim served as Aquiline’s lead financial advisor, alongside Lincoln and Rothschild. Ropes & Gray served as Aquiline’s legal advisor. AB Private Credit Investors provided the unitranche debt financing to support the transaction.

TripleTree served as financial advisor to Health Prime.

About Health Prime

Health Prime is a provider of powerful revenue cycle management solutions to physician groups across a variety of specialties. The company’s proprietary technology suite includes financial reporting tool Prime Datalytics and workflow automation applications Prime Link and Prime Flow. Health Prime was founded in 2004, headquartered in National Harbor, MD and has more than 3,500 employees in the United States, Costa Rica, India, and the Philippines.

About Aquiline Capital Partners

Aquiline Capital Partners LP is a private investment firm based in New York, London, Philadelphia, and Greenwich, Connecticut, that invests across financial services, healthcare, and technology. For more information about Aquiline, its investment professionals, and its portfolio companies, visit www.aquiline.com.

Onera Health, pioneer and leader in remote sleep diagnostic and monitoring solutions enabling clinicians to conduct sleep studies anytime, anywhere, announces the completion of a Series C financing round, , led by EQT Life Sciences, co-led by Gimv and supported by existing investors Innovation Industries, Invest-NL, Imec.xpand, BOM, and 15th Rock.

Onera Health focuses on breakthrough sleep testing solutions that are quick, convenient, and clinically accurate. The user-centric technology of their polysomnography (PSG) system brings clinical-grade PSG diagnostics and monitoring directly to the patient’s bed while being in the comfort of their own home (hPSG). The MedTech and Digital Health company is currently operating in the United States, the Benelux, and the DACH region.

This Series C financing round allows Onera Health to accelerate manufacturing and sales to meet the growing customer demand for its innovative, self-applied, no-wire end-to-end solution. Furthermore, the company has the clear ambition to become the leader in hPSG within the field of sleep medicine via its next-generation PSG system for which clearance procedures are pending in Europe and the United States.

Michaël Vlemmix and Sandy Blin, Partner and Analyst in the Gimv Life Sciences platform, jointly indicate: “Onera Health is run by a highly skilled management team that has been able to further leverage cutting edge technology which stems from the Imec research center. We believe the company’s solution has the potential to disrupt the sleep testing market by bringing complex polysomnography studies at home, which will reduce the patient backlog in hospitals and facilitate the diagnosis of sleep diseases which incidence is steadily increasing every year. Together with a solid international investor base, we are thus looking forward to supporting the development of such a breakthrough solution.”

Bram Vanparys, Managing Partner – Head of Life Sciences at Gimv, adds: ”The mission of Gimv’s Life Sciences platform is to invest in companies that develop products that positively impact our wellbeing and, in parallel improve the efficiency of our healthcare system. Onera Health is a perfect example of how innovative technology leads to more efficient diagnosis which will benefit both the patient and the affordability of healthcare.”