HOLLAND VENTURE invests in LIVASSURED to support further development of the nightwatch

A groundbreaking detection system for nocturnal epileptic attacks
 
Amsterdam, 20 September 2018 – Investment company Holland Venture invests with Oost NL and Health Innovations Fund in LivAssured, which developed the revolutionary NightWatch in collaboration with neurologists and patient associations. The NightWatch supports  the care task of parents and healthcare professionals by giving off a warning in the event of a heavy night-time epileptic seizure. Because of the NightWatch, help can be provided quickly and adequately, reducing the risk of medical complications. The investment enables further development and the international roll-out of the NightWatch. With the investment in LivAssured, Holland Venture officially launched the Holland Venture Healthcare Innovation Fund II.

Annually, about 100,000 Dutch people must deal with epilepsy. A severe attack requires medical attention in approx. 30% of cases. Most of these attacks occur at night and often go by  unnoticed, leading to serious medical complications. Because of this parents often experience night-time stress. Research among the parents of the patients of epilepsy clinic Kempenhaeghe shows that about 60% of the parents are actively looking for a solution. Healthcare professionals also benefit from an adequate detection system to improve the quality of care and to ease the care task.

Conceived by neurologists, advised by epilepsy associations.

To solve this problem LivAssured, founded in 2013, developed the NightWatch in cooperation with institutions Kempenhaeghe, Sein, UMC Utrecht, and the Epilepsy Fund. The detection system consists of a bracelet that the patient wears around his upper arm at night. It uses a unique combination of heart rate and motion analysis, where the device recognizes movement patterns and changes in heart rate with a high degree of accuracy. A smart algorithm assesses whether these signals indicate an epileptic seizure. In the case of an epileptic seizure, the NightWatch sends an alarm to the healthcare professional or parent. This could prevent that an epileptic lead to more damage, hospitalization or even death.

Healthcare return

According to a longitudinal study at epilepsy institutes Sein and Kempenhaeghe, the NightWatch detects 9 out of 10 clinical urgent attacks and alerts emergency workers in time. That is more than a huge improvement compared to alternative products that are currently on the market. The results of this study will be published shortly. The NightWatch is currently being used to great satisfaction by a growing group of Dutch families and in care institutions.

Jan-Frens van Giessel, Investment Director by Holland Venture. ‘The safety for patients isn’t the only thing which increases due to the NightWatch, it also relieves the care task of parents and healthcare professionals. It realizes a huge impact in the care of a very vulnerable group of patients and their attendants. This explains why the investment in LivAssured fits perfectly within our investment focus, where we aim to reduce healthcare costs while increasing the quality of care. We foresee enormous (international) growth opportunities for the company and are proud to be able to contribute to its development.’

Jeroen van den Hout, CEO LivAssured, add to this: ‘We can set the next steps with the knowledge and capital of Holland Venture. With this investor, LivAssured gets a strong partner with experience in the healthcare sector and enable us to further develop the NightWatch and achieve our international growth ambitions.’

LivAssured is the first investment of the Healthcare Innovation Fund II (HVZI II) of Holland Venture.

With her recently started second Healthcare Innovation Fund, Holland Venture provides growth capital to promising Dutch entrepreneurs in the healthcare market. The fund, with a size of 14 million euros, has set itself the goal of building a portfolio of around 10 investments within the segment’s devices, diagnostics, and digital health.
About Holland Venture
Over the past 35 years, Holland Venture has invested in more than 130 Dutch SMEs in a responsible and successful manner. With a clear investment strategy, Holland Venture is active in the growth markets of both healthcare and technology. The experienced and involved investment team knows what entrepreneurship is like. With the joint goal of achieving growth, Holland Venture strives for an open, sustainable and professional relationship with the management teams of the companies in which she invests. Holland Venture is supported by a broad network of successful healthcare and technology entrepreneurs.

 

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Colisée expands its European footprint with the acquisition of a nursing home platform in Spain

ik-investment-partners

Colisée, a leading player in the elderly care segment in France & Italy supported by IK Investment Partners (“IK”) since 2017, is accelerating its growth with the acquisition of STS Grup, a nursing home provider in Spain.

STS Grup’s 6 facilities representing approximately 600 beds in Catalonia, will join the Colisée Group and further strengthen its leading position in Europe in the nursing home and homecare services segments. With more than 114 nursing home facilities and 70 home care services agencies in France, Italy and Spain, the Group led by Christine Jeandel is positioned as a clear pan-European consolidator.

Following this acquisition, in order to increase its financials capabilities to pursue buy-and-build in Europe on top of financial support from IK, Colisée tapped the debt markets. By raising a new term loan of MEUR 120, the Group recharged its acquisition facility loan.

Colisée welcomed the IK VIII Fund, advised by IK Investment Partners, as the majority shareholder in June 2017. Since then, the Group has grown steadily both organically and through buy-and-build, adding 24 nursing facilities (i.e. 2,198 beds) to its perimeter.

The financial terms of the transaction are not disclosed.

For further questions, please contact:

Colisée
Marie-Gabrielle de Marchis – Nouvelle Saison
Phone: +33 6 69 40 32 17
mg.demarchis@nouvellesaison.com

IK Investment Partners
Dan Soudry, Partner
Phone: +33 1 44 43 06 60

Mikaela Hedborg
Director Communications & ESG
Phone: +44 77 87 573 566
mikaela.hedborg@ikinvest.com

About Colisée
Colisée is a key player in the global health care and old-age dependency sector, and has developed a real expertise in elderly people care and well-being. Its network includes 114 facilities in France, Italy and Spain and close to 70 home-based services agencies in France. In those two business segments, Colisée employs more than 7,800 people. For more information, please visit www.groupecolisee.com

About IK Investment Partners
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, and Benelux. Since 1989, IK has raised more than €9.5 billion of capital and invested in over 120 European companies. IK funds support companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, please visit www.ikinvest.com

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The Carlyle Group completes acquisition of Abacus, a pharmaceutical company in East Africa

Carlyle

Partnership will support expansion into new markets and broaden supplier relationships

Johannesburg, South Africa, 13 September 2018 – Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announces that it has completed the acquisition of a majority stake in AK Life Sciences (Abacus), a pharmaceutical company in East Africa. Equity for the transaction came from Carlyle Sub-Saharan Africa Fund (CSSAF). Financial terms are not disclosed.

Founded in 1995, Abacus is one of the largest distributors of pharmaceutical products in East Africa and the largest manufacturer of parenterals (IV fluids, ear, eye and nose drops) in Uganda. The company has a differentiated product offering, ranging from mission critical parenterals to branded generics for chronic therapeutic areas such as oncology, diabetes and cardiovascular. Abacus has an extensive distribution network with 30 wholesale branches across Uganda, Tanzania, Burundi, Rwanda and Kenya, of which many are located in remote and rural areas. The company is the distributor of choice for many multinational pharmaceutical companies looking to enter the East African market because of its strong brand recognition, reputation for quality and extensive distribution network.

Ramesh Babu, Co-Founder and Managing Director at Abacus, said, “Abacus has grown to become one of the leading pharmaceutical companies in East Africa, and today we employ more than 800 people throughout the region and have a distribution network of 30 wholesale branches. We have created a strong platform for further growth and have established good relationships with large multinational pharmaceutical companies and local suppliers. We are excited to partner with Carlyle and expect to benefit from their deep industry knowledge and experience, and look forward to building on our company’s success to date.”

Genevieve Sangudi, Managing Director at The Carlyle Group, said: “Abacus has best-in-class distribution capabilities and an established regional platform to build on, taking advantage of the favorable demographics and growing pharmaceutical demand throughout East Africa. We see an opportunity to support Abacus and to leverage Carlyle’s platform to provide the company with access to new markets as well as broadening supplier relationships with European and North American innovators. We look forward to working closely with the founders and the management team to drive growth in the next phase of the company’s development.”

The Carlyle Group has invested more than US$11.5 billion of equity in more than 65 transactions across the global healthcare industry as of June 30, 2018.

Carlyle was advised on the transaction by McKinsey (commercial), Clifford Chance (legal), and KPMG (financial).

*****

Contact:

The Carlyle Group
Katarina Sallerfors
Katarina.sallerfors@carlyle.com
+44 (0)20 7894 3554

About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $210 billion of assets under management across 335 investment vehicles as of June 30, 2018. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,625 people in 31 offices across six continents.

Web: www.carlyle.com
Videos: www.youtube.com/onecarlyle
Tweets: www.twitter.com/onecarlyle
Podcasts: www.carlyle.com/about-carlyle/market-commentary

About Carlyle Sub-Sahara Africa Fund (CSSAF)

Established in 2012, CSSAF and its affiliates, with $698 million of committed capital, have invested over $550 million to date across a variety of industries, including energy, financial services, TMT, retail, logistics, business services and mining services, and across a variety of geographies, including South Africa, Gabon, Nigeria, Mozambique, Zambia, Tanzania, and the Democratic Republic of the Congo. CSSAF makes buyout and growth capital investments in private and public companies from offices in Johannesburg, South Africa and Lagos, Nigeria.

About AK Life Sciences (Abacus)

Abacus was incorporated in 1995 under the flagship of the Kiboko Group of companies. Within a span of 15 years the Company has grown from a small distributor to one of the leading importers and distributors of pharmaceutical formulations and surgical and non-surgical items. Abacus represents several reputable pharmaceutical companies spread across India, China, Middle East, Pakistan, UK and Kenya.
For Web: https://abacuspharma.com/

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Clarify Health Solutions Raises $57 Million in Series B Financing Round Led by KKR

KKR

nvestment will fuel company’s growth in building the industry’s first real-time care guidance platform

SAN FRANCISCO & NEW YORK–(BUSINESS WIRE)– Clarify Health Solutions, Inc. (“Clarify” or the “Company”), a pioneer in real-time care guidance technology, today announced that it has closed $57 million in a Series B financing round led by KKR, a global investment firm. Building upon the Company’s rapid customer expansion in 2018, the injection of new capital will fuel the Company’s growth on its mission to power the personalization and optimization of every care journey.

Clarify brings hospital, health insurance, and life sciences customers the latest financial services and consumer technologies coupled with the deep clinical expertise needed to power innovative care delivery models. Clarify’s solutions deploy predictive analytics and machine learning on a comprehensive data set of over 20 terabytes – representing clinical, claims, social determinant, laboratory, and prescription data – to provide actionable insights and automate care navigation. The Company’s Care Journey Platform enables doctors to gain the confidence of matching patients to the most appropriate care, while patients benefit from real-time visibility and guidance.

Clarify plans to use the new funding to expand its clinical transformation, sales, engineering, and data science teams, to acquire new data assets, and to accelerate the development of its digital care guidance platform. This will help widen Clarify’s reach in supporting customers in their delivery of more effective and delightful care to patients nationwide.

“We are thrilled to partner with KKR to build the world’s first real-time care guidance platform,” said Jean Drouin, MD, CEO and Co-Founder, Clarify Health Solutions. “We are entering a new era, where technology can help us to reimagine care delivery. We have accepted for far too long that an accessible, service-oriented, and customer-centric experience is simply unattainable in health care. We are committed to making the words ‘delightful,’ ‘healed,’ and ‘affordable’ far more common in the health care lexicon.”

For KKR, the investment is being funded through the firm’s Health Care Strategic Growth Fund, which is focused on investing in high-growth health care-related companies for which KKR can be a unique partner in helping reach scale.

“Today’s health care market is not only very complicated but also extremely fragmented and marked by patient dissatisfaction,” said Ali Satvat, Member of KKR and Head of KKR’s Health Care Strategic Growth investing efforts. “The impressive and highly experienced team at Clarify is addressing this problem by bringing the power of technology to the industry in a way in which it has not been applied to date. We are delighted to partner with Clarify on this effort to enable a more effective, efficient, and simply better health care experience for both physicians and the patients who need it.”

Clarify delivers precise care guidance through its three primary solutions:

Clarify Care Prism

Clarify’s machine-learning analytics solution provides case-mix adjusted insights on performance in value-based payment programs and beyond. The solution unlocks granular clinical and operational variation insights on performance at the facility, physician, and/or patient levels with compelling, easily understandable visuals that empower change. Clarify recently became a Qualified Entity (QE), gaining access to the full Medicare data set for parts A, B, and D, through the Centers for Medicare and Medicaid Services (CMS).

“The Clarify Care Journey Platform is built upon an ever-growing data set that represents one third of the U.S. population and over 20% of our nation’s health care spend,” said Todd Gottula, President, CTO and Co-Founder, Clarify Health Solutions. “We are giving customers a rare insight into the precise drivers of cost, quality, and outcomes, at the patient level, completely revolutionizing how care journeys are mapped and directed by clinicians.”

Clarify Care Pilot

Clarify’s real-time patient engagement solution effectively guides the patient through his or her care journey. A doctor or health care professional prescribes a personalized “care map” directly to the patient via the mobile or browser-based app. Care Pilot is designed to engage the patient outside of the clinic by providing critical information about care regimens, collecting self-reported data, and enabling communication with care teams through real-time patient monitoring.

Clarify Care Connect

Clarify’s real-time care navigation solution empowers clinicians to monitor and guide patients efficiently through their journey of care in real time. Granular patient stratification and journey assignment at the beginning of a journey creates a workstation for the efficient management of a panel of patients. Ongoing assessment of patient risk levels, prioritized alerts to focus on patients requiring intervention, and critical patient-level information are all easily accessible by the care team.

About Clarify Health Solutions

Our vision is to power better care by personalizing and optimizing every care journey. Clarify delivers the insights and digital solutions that empower physicians, health systems, and payers to optimize care and thrive in a value-based world. The Clarify platform seamlessly integrates powerful analytics, artificial intelligence, real-time patient navigation, and smart workflows to guide patients and their caregivers proactively through personalized care journeys. Clarify brings committed and passionate colleagues with backgrounds in big data and AI engineering from financial services together with extensive clinical operations expertise. The team has a track record of achieving over $1 billion in improvement at more than 125 health systems, payers, and pharmaceutical companies and deploying cloud-based software at over 5,000 institutions. For more information, please visit http://www.clarifyhealth.com.

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic manager partnerships that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

 

Clarify Health Solutions
Kendall Reischl, 408-768-3176
kendall@clarifyhealth.com
KKR
Kristi Huller or Cara Major, 212-750-8300
media@kkr.com

Source: Clarify Health Solutions, Inc

 

 

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EQT Credit provides financing for Summa Equity’s investment in HyTest

eqt

EQT Credit, through its Mid-Market Credit investment strategy, today announced that is has provided a senior secured financing solution to support Summa Equity’s investment in HyTest.

Founded in 1994 as a spinoff from a project within Turku University, HyTest is a high-quality, global antibody and antigens manufacturer and supplier, primarily targeting in vitro diagnostics (IVD) OEMs and research organizations. The company is headquartered in Turku, Finland and employs 112 people.

Paul Johnson, Partner at EQT Partners’ Credit team, Investment Advisor to EQT Mid-Market Credit, commented: “HyTest is recognized globally as a high-quality supplier of antibodies to IVD companies and to the research community. The company operates in an attractive market driven by non-cyclical, stable growth drivers. EQT Credit looks forward to supporting HyTest and its management team under Summa’s ownership”.

Alexandre Hökfelt, Director at EQT Partners’ Credit team, Investment Advisor to EQT Mid-Market Credit, added: “The transaction represents EQT Mid-Market Credit’s second unitranche in Finland this summer and we would like to thank EQT’s Industrial Advisors, who as senior executives in the IVD space, provided key support to the EQT Credit deal team throughout the due diligence process”.

Contacts
Paul Johnson, Partner at EQT Partners, Investment Advisor to EQT Mid-Market Credit, +44 203 372 9424
Alexandre Hökfelt, Director at EQT Partners, Investment Advisor to EQT Mid-Market Credit, +44 203 372 9414
EQT Press Office, +46 8 506 55 334, press@eqtpartners.com

About EQT Credit
EQT Credit invests through four complementary strategies: Senior Debt, Mid-Market Credit (direct lending), Core Value and Credit Opportunities. Since inception, EQT Credit has invested in excess of EUR 5 billion in over 160 companies. EQT Credit’s direct lending strategy seeks to provide flexible, long-term debt capital solutions to medium-sized European businesses, across a wide range of sectors. These businesses may be privately-owned corporates seeking alternative funding to grow or be the subject of private equity-led acquisitions or refinancings.

More info: www.eqtpartners.com/Investment-Strategies/Credit

About EQT
EQT is a leading investment firm with approximately EUR 50 billion in raised capital across 27 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.

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KaNDy Therapeutics successfully raises £25 million in a Series C financing

Forbion

Funding to advance a breakthrough non-hormonal treatment for symptoms of the menopause, into a Phase 2b study in Q4 2018

Stevenage, UK, 29 August 2018 – KaNDy Therapeutics, a clinical-stage Women’s Health company, today announces it has successfully closed a Series C financing round, raising £25 million from new US investor Longitude Capital, and existing internationally recognised life sciences investors Advent Life Sciences, Fountain Healthcare Partners, Forbion Capital Partners and OrbiMed.

The proceeds will enable KaNDy Therapeutics to advance its breakthrough non-hormonal drug candidate, NT-814, for treatment of multiple symptoms of the menopause, through a multi-country Phase 2b dose-ranging study due to start recruiting patients in Q4 2018 with headline results expected in late 2019.

Commenting on the financing round, Mary Kerr CEO of KaNDy Therapeutics, said:”We are delighted by the level of enthusiasm and financial support we have received from our investors and would like to welcome Longitude Capital into the syndicate and the board of directors. Our investors and the KaNDy management team are united by the common belief that NT-814 has the potential to be a transformational treatment for the millions of women worldwide who suffer debilitating symptoms of the menopause.”

NT-814 is an orally administered once daily, potent and selective small molecule dual antagonist of both the neurokinin-1 and 3 receptors. It is being developed by KaNDy Therapeutics to provide a viable alternative to hormone replacement therapy. In June 2018, the Company announced positive data from the Phase Ib/IIa proof of concept clinical trial which showed that women who were treated with NT-814 once daily for two weeks at the most effective doses evaluated, experienced a rapid and profound reduction in two key symptoms of the menopause, namely frequency and severity of hot flashes and the number of night time awakenings

Josh Richardson, M.D., Managing Director of Longitude Capital said: “We were very pleased to participate in this funding round. We have been impressed with the data announced thus far, by KaNDy’s business strategy and the strong and experienced management team. We believe NT-814 has the potential to greatly improve the quality of life of millions of women worldwide and we look forward to supporting the Company as it continues to progress this potentially transformational candidate through the clinic towards commercialization.”

A Phase 2b study to further evaluate the safety and efficacy of NT-814 in women with bothersome post-menopausal symptoms, and to establish the optimum dose to take forward into Phase 3, is anticipated to start recruiting patients in the US, Canada and the UK in Q4 2018, with headline results expected in late 2019.

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Cinven completes final realisation of Medpace

Cinven

Investment in US-headquartered CRO operator capitalising on Cinven’s global healthcare investment expertise

International private equity firm, Cinven, today announces that it has successfully completed the final sell down of its remaining shares in Nasdaq-listed Medpace (‘the Group’), a leading contract research organisation (‘CRO’). Following this transaction, Medpace becomes a fully realised investment for Cinven, generating highly successful returns for the Fifth Cinven Fund.

Headquartered in Cincinnati, Ohio, Medpace is a global CRO operator providing management services to the R&D departments of pharma, biotech and medical device clients to help plan and oversee their clinical trials. Medpace focuses on small to mid-size companies and has significant expertise in numerous therapeutic areas, operating across 36 countries worldwide.

Cinven’s Healthcare team identified the CRO industry as an attractive market in which to invest. Following its detailed sector review work, Cinven acquired Medpace in February 2014 for a total consideration of US$915 million.

During Cinven’s ownership of Medpace, strong progress was made by Medpace’s industry-leading management team across a number of key pillars of Cinven’s investment thesis:

  • International expansion: Medpace continued to expand significantly outside of the US including in Europe and Asia;
  • New therapeutic areas: Medpace successfully developed its therapeutic franchises including anti-viral/anti-infective and oncology, and consolidated its position in existing therapeutic areas, such as metabolic and cardiovascular, as well as later-stage trials; and
  • Investment-led growth: Significant investment was made into Medpace’s human capital and infrastructure to position the Group for further growth. In particular, Cinven enabled the senior management to make the strategic hires necessary to grow the business. Medpace’s workforce increased by more than 55% during Cinven’s investment, with the number of employees growing from approx. 1,500 in 2014 to 2,700 today.

As a result, Medpace delivered strong financial performance under Cinven’s ownership, driven by trading growth momentum, industry-leading margins and strong cash conversion.

On the back of this strong performance, in August 2016, Medpace achieved a highly successful all-primary IPO on the Nasdaq Global Select Market at US$23 per share. Medpace’s share price has performed well in the aftermarket, and Cinven has monetised its investment in Medpace through a series of sell downs, culminating in the final sell down on 22 August 2018 at a c.138% premium to the IPO price.

Commenting on the transaction, Alex Leslie, Partner in Cinven’s New York office, said:

“Cinven’s investment in Medpace stemmed from a high conviction thesis that we developed within Cinven’s Healthcare Team, which anticipated strong growth in the CRO industry fuelled by increased R&D spending by the pharma industry and the growing complexity and number of clinical trials required to bring new molecules to market.

“We expected this would be especially pronounced in the smaller pharma and biotech segments of the market, where Medpace focuses. This thesis has played out and has resulted in Medpace delivering an excellent returns.”

John Richardson, Senior Principal in Cinven’s New York office, added:

“Cinven backed a strong management team at Medpace, led by CEO, Dr August Troendle, and invested significantly in his team and the Group’s infrastructure, including IT systems and clinical operations. Medpace is a strong example of Cinven’s successful sector / regional approach – how the Cinven Healthcare and US teams have worked closely together to grow a business and generate highly attractive returns for Cinven’s investors.”

The transaction is expected to close on or around 27 August 2018 subject to customary closing conditions.

The final realisation of Medpace follows Cinven’s recent successful exits of CeramTec, CPA Global, Viridium Group and Ufinet Group.

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bm-t invests in world leading enzyme company

BM-T

c-LEcta, a world-leading biotechnology company focused on enzyme engineering and applications in regulated markets like food and pharma, has closed a financing round with Capricorn Venture Partners and the German investment company bm|t. The capital increase provides the company with growth capital as well as valuable access to an international network.

c-LEcta already has a diversified shareholder structure. In addition to the founder, Dr. Marc Struhalla, private industrial investors and German institutionals, the company has now expanded its circle of shareholders by attracting international investors. c-LEcta has received growth capital from two new shareholders. Lead investor, Capricorn Venture Partners, is an independent, internationally oriented investment company, based in Leuven, Belgium. Capricorn invests in innovative, technology driven companies and has a multidisciplinary team of experienced investment professionals. Capricorn invested through two funds, namely the Capricorn Sustainable Chemistry Fund NV and Quest for Growth NV. The German investment company bm|t invests in high-growth technology companies led by entrepreneurial teams. bm|t invested via the MFT Mittelstands-Fonds Thüringen GmbH & Co. KG. These new funds are planned to be particularly invested in the approval, launch and scale-up of products from the project pipeline, further development of the pipeline as well as the expansion of international sales.

Mr. Ludwig Goris, Investment Manager of Capricorn, commented on the investment in c-LEcta: “We see that global mega trends and challenges in human nutrition are paving the way for industrial biotech companies like c-LEcta. Since its foundation, c-LEcta has built up a remarkable track record of technology and product development and has been able to validate that through a growing customer base of leading pharma, chemical and food ingredient companies. In addition, we were impressed by the highly qualified team in Leipzig. Founder and CEO Dr. Marc Struhalla and his motivated team have created a great company that has arrived at an attractive inflection point where the current product pipeline forms the foundation for an accelerated growth curve. We are proud to lead this growth capital round and contribute to the success of c-LEcta.”

Kevin Reeder, CEO of bm|t added, “bm|t, which has a substantial life sciences portfolio, is very optimistic about its investment in c-LEcta. The company´s strong team, track record of successful development, and a highly compelling product pipeline were extremely impressive. We feel c-LEcta is well-positioned to transition to a high-value biotechnology product company.” The two new investors expand the group of shareholders, which previously included the following investors: SHS Gesellschaft für Beteiligungsmanagement mbH, High-Tech Gründerfonds Management GmbH, KfW Bankengruppe, Dr. Marc Struhalla, Warning Beteiligungs GmbH, Dr. Bader Beteiligungs GmbH, and Arthur Steinmetz Beteiligungs GmbH.

In order to reinforce management and the board and support the anticipated growth, Thomas Pfaadt (45) recently joined c-LEcta as CFO. He enriches the company with his experience in corporate finance and M&A. Previously Thomas Pfaadt worked for a private equity-owned operator of rehabilitation clinics as well as for a family-owned integrated healthcare group. He also gained experiences as an investment banker and consultant with a strong focus on the healthcare sector. He commented on what excites him about c-LEcta: “c-LEcta is a young, lean, and dynamic company and a global player at the same time. We are fighting the serious challenges of today’s human nutrition. A growing population and a growing demand for healthy natural food require solutions from enzyme technologies that the chemical industry cannot provide. We are pleased to have won these two new investors to finance our work in addressing these large opportunities.”

c-LEcta is a fully integrated biotechnology company based in Leipzig, Germany, with focus on enzyme engineering and application in regulated markets like food and pharma. c-LEcta currently employs around 60 people. The company is well diversified and covers a large part of the value chain from discovery to engineering to the commercial production of enzymes as well as the manufacturing of other high-quality biotechnology products, either as in-house developments or in close coöperation with the industry. Over the last five years, c-LEcta has conducted more than 30 enzyme engineering projects with a success rate of >90%. Only a few weeks ago, the company announced a major breakthrough as the first company to develop a process to enable the mass-production of a plant-based sweetener with a real sugar-like taste. In addition, two further food ingredient products with high market potential are in an advanced development stage and the project pipeline comprises several promising candidates addressing the multi-billion-euro food ingredients market. This growth financing is intended to raise c-LEcta to a new level and elevate the focused food ingredients from the project pipeline to commercial scale production.

CEO Dr. Marc Struhalla commented on c-LEcta’s core technology and the capital increase: «The performance requirements for enzymes to be applied in industrial processes are in most cases very specific and vary from naturally occurring variations. Enzymes therefore need to be adapted to industrial conditions via enzyme engineering, and c-LEcta owns one of the most efficient technology platforms in this area. For enzyme optimization as well as for the development of artificial enzyme activities, we use patent-protected strategies that are inspired by nature. The industrial application of these technologies holds great market potential. The financial strength and valuable international network that we have gained through this financing round now offers us the opportunity to develop the full potential of our technology and people. With Capricorn Venture Partners and bm|t, we get two active investors on board that can contribute substantially to our international growth ambitions. Also, I am all the more pleased that our new CFOThomas Pfaadt will support us in this endeavor. Our goal is that in the future c-LEcta´s technology will be employed in many things we encounter in everyday life.”

 

About Capricorn Venture Partners:

Capricorn Venture Partners is an independent European manager of venture capital and equity funds, investing in innovative European companies with technology as competitive advantage. It is based in Leuven, Belgium and licensed by the FSMA (the Financial Services and Markets Authority in Belgium).

About bm|t:

Erfurt-based, bm|t beteiligungsmanagement thüringen gmbh (bm|t) is the largest growth investor in the federal state of Thuringia, Germany. bm-t invests in innovative companies with strong growth potential across all sectors and phases of the corporate lifecycle.

About c-LEcta

c-LEcta is a fully integrated world-leading biotechnology company with focus on enzyme engineering and application in regulated markets like food and pharma. The company is located in Leipzig, Germany, and has established itself as a leading player in the realization of high-value biotech products, either in the form of in-house developments or in close coöperation with industry. The company currently employs around 60 people.

c-LEcta delivers cost-efficient and sustainable production processes which open new markets and allow for better penetration of existing markets. The company is characterized by fast and efficient development of best-in-class biotech solutions and a rapid and successful market introduction and commercialization of the resulting products. This enables c-LEcta to leverage the unique potential of its core technologies. c-LEcta has a proven track record of more than 10 successfully commercialized high-value industrial biotech products.

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The Carlyle Group Invests in One Medical, the Largest Independently Held, Technology-Enabled Primary Care Practice in the U.S.

Carlyle

Carlyle’s Global Platform and Deep Industry Expertise To Help Grow and Scale the Business

New York, NY – Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announced that it is making a significant minority investment of up to $350 million into 1Life Healthcare, the technology and management company behind One Medical, to support the company’s growth. One Medical is the largest independently held primary care practice in the U.S. The company is working to transform health care by making high-quality primary care personal, accessible and affordable.

One Medical CEO Amir Dan Rubin said, “Partnering with Carlyle, given their extensive network and significant resources, will fuel our next stage of growth and innovation. Carlyle has a deep understanding of the health care sector and a track record of helping to build market-leading companies, while maintaining the highest levels of quality and patient support.”

Ram Jagannath, Managing Director on Carlyle’s Healthcare team, said, “We are excited to partner with Amir Dan Rubin and the One Medical team to continue growing and building out the platform. The company has developed an innovative, membership-based model that key stakeholders — including patients, providers, employers and health systems — find highly compelling. One Medical’s combination of best-in-class service and seamlessly integrated technology is delighting patients in an increasingly frustrating primary care environment. We look forward to working with the company to bring the One Medical brand and experience to more patients across the country.”

Founded in 2007, One Medical is reimagining primary care by improving the quality, service and affordability of care through a technology-enabled model. The company provides service in nine metropolitan regions: Boston, Chicago, Los Angeles, New York, Phoenix, San Francisco, Seattle, San Diego and Washington, DC. In addition to its consumer membership model, more than 1,000 companies have added One Medical to their health benefits packages, giving employees unparalleled, integrated access to near-site primary care, 24/7 virtual care and even on-site care that helps them improve population health and decrease overall health care costs. Health systems are now also partnering with One Medical as they acknowledge the value of having high-quality longitudinal, preventative care in their networks.

Bruce Dunlevie, Partner at Benchmark Capital and current 1Life Healthcare board member, said, “We are excited to have Carlyle join the 1Life Healthcare Board and investor group to help advance One Medical’s mission to transform health care. The primary proceeds from Carlyle’s investment will help fund One Medical’s go-forward expansion, while the Carlyle team’s experience building successful health care companies will serve as a valuable asset for the company.”

Equity for the transaction comes from Carlyle Partners VII, an $18.5 billion fund that makes majority and strategic minority investments primarily in the U.S. across five industries. The investment in One Medical is a continuation of Carlyle’s long-term global commitment to health care, in which it has invested more than $11 billion of equity since inception. Carlyle’s significant experience investing in the healthcare space includes MedRisk, Albany Molecular Research, PPD, WellDyneRx, Ortho Clinical Diagnostics, Rede D’Or São Luiz, Healthscope, Qualicorp, MultiPlan, and most recently, Millicent Pharma.

Latham & Watkins LLP served as legal advisor to Carlyle.

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About One Medical

One Medical is the nation’s leading member-based, technology-powered national primary care organization focused on transforming health care. One Medical delivers it unique model of real life care through digital health services and convenient medical offices in 72 locations in nine metropolitan regions, including Boston, Chicago, Los Angeles, New York, Phoenix, San Francisco, Seattle,  Washington, D.C, and San Diego (launching next year).

In addition to its direct-to-consumer membership model, One Medical works with more than 1,000 companies who have added One Medical to their health benefits packages, giving their employees unparalleled, integrated access to near-site primary care, 24/7 virtual care, and even on-site care that helps them improve population health and decrease health care costs. One Medical is affiliated with 1Life Healthcare, Inc., a healthcare technology and management services company.

About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $210 billion of assets under management across 335 investment vehicles as of June 30, 2018. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,625 people in 31 offices across six continents.

Web: www.carlyle.com
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Contact:
Chris Ullman
+1 (202) 729-5450
Chris.ullman@carlyle.com

 

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Main Capital acquires healthcare communication SaaS specialist Enovation

Main Capital

Main Capital acquires Enovation, a Dutch market leading player in delivering mission-critical software solutions for secure communication in the healthcare and logistics markets. Selling shareholder, VANAD Group, provider of technology solutions and services related to customer experience will remain involved with Enovation post-acquisition via a minority stake. Enovation is based in Capelle aan den IJssel and delivers leading and innovative SaaS solutions for the Dutch healthcare and logistics markets. Well-known products include the ZorgMail, xdsConnect and myhealthConnect platforms and the healthcare interoperability solution Cloverleaf. Enovation’s products and related services support clients with the secure exchange of patient data within and between healthcare institutions as well as between healthcare professionals and patients. This enables healthcare professionals to deliver high-quality care, leveraging accurate and real-time information.

Enovation was founded in 1983 and has been part of the VANAD Group since 2013. Following its foundation, the company positioned itself as the most specialized software vendor and innovator in the secure healthcare communication domain. Enovation employs approximately 135 employees and generates tens of million euro’s in revenues. Over the years, the company strengthened its product portfolio with new innovative products, acquisitions of strategically interesting products and  complementary partner products. These developments allow Enovation to deliver a one-stop-shop solution enabling clients to securely exchange patient data by leveraging efficient IT integrations. The company is active in practically all healthcare segments and serves almost all Dutch hospitals, ambulance services, general practitioners, pharmacies, dentists, paramedical care providers and municipalities.

The healthcare market is characterized by complex IT systems in which individual participants use different communication standards. This hinders secure and efficient patient data exchange between IT systems of different healthcare institutions and between healthcare practitioners. The recently implemented European privacy regulation accelerates the need for healthcare institutions to implement secure communication solutions. Moreover, cost pressure on healthcare spending have led to an increased focus on efficient cooperation between parties in the healthcare value chain. The products of Enovation enable healthcare institutions and other stakeholders in the healthcare sector to exchange information in a safe and efficient manner, irrespective of the existing IT systems and with maximum protection against data leaks.

Going forward, Enovation will further capitalize on the trend towards Connected Healthcare. The company developed the myhealthConnect product, a hardware-agnostic software platform enabling care providers to monitor patients on distance. One of the benefits associated with myhealthConnect is that healthcare institutions have maximal flexibility in selecting monitoring devices and IT applications from various vendors. This prevents a lock-in while the software allows to securely connect these devices and applications with an organization’s own IT infrastructure. This secure efficiency gain enables high-quality remote care, reducing general practitioner visits and helping patients to live at home longer.

Enovation’s ambition is to grow towards a leading SaaS player in the northwest European healthcare market. The company will focus on realizing further organic growth and on the further development of innovative products. In addition to organic growth, Enovation will strengthen its product proposition and international market position by following a selective buy-and-build strategy.

The VANAD Group was advised by ING Corporate Finance and NautaDutilh.

 

Cooperation Enovation – Main Capital

Arthur Nederlof (CEO VANAD Group): “Over the past 35 years, Enovation has grown to a company associated with a high level of quality, an excellent culture, an exceptional client base, an outstanding (cloud) product portfolio, an increased level of own IP developed innovative software products, ample international growth potential and above all, a passionate team. We believe that Main Capital is the right partner to support Enovation to grow towards the next level. Going forward, the VANAD Group will focus on its Customer Experience propositions, the core activity that the VANAD Group is well-known for. The future looks promising for both Enovation and the VANAD Group”.

Charly Zwemstra (Managing Partner Main Capital): “Enovation offers innovative, mission-critical healthcare solutions facilitating internal- and external information exchange for healthcare institutions. With these solutions, the company facilitates the rising demand for healthcare cooperation. We see ample potential to organically grow within the current focus markets, in which the myhealthConnect and xdsConnect products particularly will play an important role. Additionally, we see ample opportunities for a buy-and-build strategy enabling Enovation to further grow in adjacent product- and market segments in the Netherlands and abroad. We would like to thank the VANAD Group for their trust in Main Capital and look forward to the cooperation with Enovation’s management team, led by Jeroen van Rijswijk and Marcel van der Velden.”

 Enovation

About Enovation

For over 35 years, Enovation is the specialist for secure healthcare communication solutions. The company focuses on facilitating information exchange between- and within healthcare institutions and between healthcare institutions and patients. The company’s product proposition comprises own developed IP solutions complemented with solutions of partners. The solutions are based on (international) standards and can be seamlessly integrated with existing processes and IT systems of healthcare institutions.

About Main Capital

Main Capital is a strategic investor with an exclusive focus on the software sector in the Benelux, Germany and Scandinavia. Within this sector, we are the most specialized party in management buy-outs and later-stage growth capital. Main Capital has approximately € 400 million under management for investments in mature but growing software companies in the Netherlands and Germany. An experienced team of professionals manages these Private Equity funds from offices in The Hague and Düsseldorf. Main Capital has a strong footprint in the healthcare SaaS market and acquired companies like SDB Ayton, Verklizan, RVC Medical IT and The Patient Safety Company before.

The current investment portfolio of Main Capital consists of growing (SaaS) software companies such as GOconnectIT, JobRouter (Germany), Inergy, MUIS Software, artegic (Germany), OBI4wan, Axxerion, b+m Informatik (Germany), Ymor, Roxit, Onguard, Sharewire, SecondFloor, Sofon and ChainPoint. Main Capital also has an interest in managed hosting provider Denit. Main Capital has a long-term perspective with the intention to build larger strong software groups. Main Capital has realized many successful exits such as recently Regas, Connexys (to Bullhorn) and ABIT / EuroSystems. Main Mezzanine Capital is another business line of Main Capital Partners and has provided mezzanine loans to, among others, The Valley, TravelBird, Talkwalker, Worldmeetings and BTC.

About VANAD Group

The VANAD Group is an internationally innovative family business. Over 1500 employees from all over the world work daily on innovative services and solutions for our customers. Over the years since 2005, VANAD Group has developed into a specialist in the field of digitization. Our assets are state-of-the-art technical knowledge, creative intelligence and most of all Happy People! We digitize activities where we cannot make a genuine, personal difference. In our approach and solutions we simply focus on being human. Because that is where we have the opportunity for real impact, human impact!

 

Note for the editor:
For more information, please contact:

Charly Zwemstra (Managing Partner)
Main Capital Partners BV, Paleisstraat 6, 2514 JA, Den Haag
Tel: +31 (0) 70 324 3433 / +31 (0) 6 512 77 805
charly@main.nl
www.main.nl

Arthur Nederlof (CEO)
VANAD Group, Rivium Westlaan 1, 2909 LD Capelle aan den IJssel
Tel: +31 (0) 10 288 1600 / +31 (0) 6 204 14 199
arthur@vanadgroup.com
www.vanadgroup.com