TPG agrees to sell Cancer Treatment Services International to Varian Medical Systems

TPG Capital

Mumbai and San Francisco – May 20, 2019 – TPG Growth, the middle market and growth equity platform of alternative asset firm TPG, announced today that it has signed a definitive agreement to sell Cancer Treatment Services International (CTSI) to Varian Medical Systems (NYSE: VAR) for $283 million. CTSI is part of Asia Healthcare Holdings (AHH), a healthcare operating platform founded by TPG Growth. The transaction is expected close approximately two weeks and is subject to customary closing conditions.

CTSI owns and operates an expanding network of cancer treatment facilities across India and South Asia, including several brands: the American Oncology Institute, CTSI’s flagship network comprised of multi-disciplinary radiation, medical, and surgical oncology focused cancer hospitals across South Asia; US-based CTSI Oncology Solutions, which provides cancer treatment planning services to healthcare providers worldwide; and AmPath, an integrated reference laboratory and pathology services provider in India. CTSI employs more than 1,500 people across its operations in India and the US, and fulfills a significant patient demand in the region for quality cancer treatment protocols.

“We invested in CTSI in 2016 with the belief that the company was in a strong position to address a substantial and growing need for quality cancer care in India. Today, CTSI is one of the largest and leading providers of high-quality oncology services across the country and broader South Asia,” said Matthew Hobart, Partner at TPG Growth. “CTSI’s growth story is an example of what we are trying to achieve through AHH, which is to provide dynamic single-specialty healthcare companies the resources and expertise to meaningfully build and scale their businesses. The transaction today marks an exciting step for CTSI and an important milestone in AHH’s evolution as one of the leading healthcare platforms in South Asia.”

When CTSI was first acquired by TPG Growth, it operated one facility in Hyderabad, India. In just three years, with AHH’s support and the onboarding of a highly talented management team, the company has grown to a network of 11 cancer hospitals with a pipeline of six more hospitals under execution. The success of CTSI builds on the track record of TPG’s healthcare investing franchise around the world, which has invested $14 billion of equity in the sector. More than 20 percent and approximately $3 billion of equity has been invested outside the US, across leading healthcare delivery networks including Parkway Holdings (Singapore), Healthscope (Australia), Manipal Health (India), Asiri Health (Sri Lanka), and United Family Healthcare (China).

“The genesis of AHH was to build single-specialty healthcare delivery businesses. Majority positions in these early stage entities give our team the unique opportunity to mold the future of these companies by giving them the right management teams, capitalization, and profitable growth trajectory. CTSI validates this unique approach to Indian healthcare,” said Vishal Bali, CEO of Asia Healthcare Holdings. “Leveraging TPG’s global healthcare franchise, we worked together to grow CTSI from sourcing to exit.”

AHH seeks to build a market-leading franchise in single-specialties across India and South Asia, and helps power companies through a single management team. AHH’s operation is unique to Indian healthcare and unparalleled in the region. Recently, AHH acquired Nova Fertility and its network of 20 IVF centers which, when combined with AHH’s existing network of 12 Women & Children hospitals under the Motherhood brand, will be India’s largest mother and child-focused healthcare platform in India.

TPG Growth

TPG Growth is the middle market and growth equity investment platform of TPG, the global alternative asset firm. With approximately $12.8 billion of assets under management, TPG Growth targets investments in a broad range of industries and geographies. TPG Growth has the deep sector knowledge, operational resources, and global experience to drive value creation, and help companies reach their full potential. The firm is backed by the resources of TPG, which has more than $104 billion of assets under management. For more information, visit www.tpg.com.

About CTSI

CTSI is a provider of university-level, comprehensive treatment for cancer patients. Founded by physicians and businessmen with substantial experience in the development, operation and networking of cancer services, CTSI provides innovative and technologically advanced treatment solutions through an IT-based model that allows integration and centralization of core services. The company began international operations at its flagship cancer hospital in Hyderabad, India in 2013 and currently has several operational cancer centers and ongoing development projects. For more information, visit http://www.cancertreatmentservices.com.

 

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Gimv hands Benedenti back to its founders following growth trajectory in Belgian dental care

GIMV

17/05/2019 – 17:45 | Portfolio

At the end of 2015, Gimv acquired a minority stake in Benedenti, a group of multidisciplinary dental practices in Flanders, Belgium. Founded in 1985 as a private dental practice in Herentals by Rik Claes and his wife Griet Luyten, the practice has grown over the years first into a large group practice and then – with Gimv’s support – into a group with eight branches. In September 2018, the new state-of-the-art group practice and headquarters opened in Herentals. With 15 (treatment) chairs, this is one of the largest group practices in Flanders.

By developing multidisciplinary group practices, Benedenti responds to a range of challenges facing dental care in Flanders, such as a substantial number of practising dentists rapidly approaching retirement age, an insufficient influx of new graduates ready to enter professional practice and the emergence of dental hygienists. Other factors include the many technological and scientific developments in the field of dentistry and changing expectations of patients and dentists. Accessible, high-quality dental care is at the heart of the group’s expansion and the continuing professionalisation of the group practices.

Through Gimv’s involvement and driven by the current CEO and founder Rik Claes, extra resources have been put into forming partnerships with other dental practices, developing new group practices and continuing to invest in the latest technology. The number of employees has evolved from around 50 in 2015 to nearly 150 today and, through a team of 60 dentists, Benedenti Group is able to offer all dental specialisms.

Gimv announces today that it is selling back its stake to the founding Claes family.

Bart Diels, Head Gimv Health & Care, explains: “We’re glad that we’ve been able to support Benedenti and the Claes family with the continuing expansion and professionalisation of the group. Led by the family, Benedenti will continue to grow organically from a strong base, with a quality-focused culture, dedicated dentists & staff and a unique DNA.”

Rik Claes, CEO Benedenti Group, adds: “We look back with satisfaction on our partnership with Gimv. Thanks to their input, we’ve been able to expand and professionalise Benedenti further. Now we want to stand on our own two feet again. It’s our goal for Benedenti Group to remain in the hands of dentists in the long term, and to continue growing strongly into an outstanding, recognisable group for staff and patients.”

The yield on Benedenti over the entire investment period is in line with Gimv’s long-term average. No further financial details, however, are provided on the transaction itself.

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Ampersand Capital Partners completes Growth Equity Investment in Transplantation Diagnostic firm GenDx

Utrecht, Netherlands – May 8, 2019 – Genome Diagnostics B.V. (“GenDx”) announced today that Ampersand Capital Partners has completed a minority, growth equity investment in the company. Wietse Mulder, PhD., remains the majority shareholder and CEO of GenDx. The partnership between Ampersand and GenDx aims to foster sustainable growth, both organically and through M&A activities in the molecular diagnostic products and services market.

GenDx is a leading provider of molecular diagnostic kits and analysis software for transplantation and companion diagnostics. Dr. Mulder commented: “GenDx has been successfully organized as a fully independent organization for almost fifteen years. We are delighted to partner with Ampersand and together continue to live by our vision of ‘meaningful entrepreneurship’ by offering the best products, education, and services to the transplantation community worldwide.”

David Parker, a General Partner at Ampersand, added: “Given Ampersand’s prior experience in the transplantation and NGS markets, we were highly impressed by the differentiated product and service offering of GenDx. We are excited to partner with Dr. Mulder and the GenDx team to build on the company’s long history of profitable growth.”

In connection with this transaction, David Parker has joined the GenDx Board of directors along with Ampersand Operating Partner Mike Evans, PhD. They join three founders on the GenDx Board: Dr. Mulder, Raoul Linschoten, LLM (Chairman), and Oscar Schoots, PhD. The board will be supported by non-director advisors Larry McCarthy, PhD and Frank Witney, PhD., both seasoned entrepreneurs and executives who serve as Operating Partners at Ampersand.



About GenDx

Genome Diagnostics B.V., also known as GenDx, is a Dutch company specialized in Molecular Diagnostics, focused on development, production and sales of innovative assays and analysis software for transplantation and companion diagnostics.

GenDx specializes in HLA sequencing-based typing strategies and offers reagents and software for both Sanger and NGS approaches. In 2013, GenDx started developing and distributing products for chimerism monitoring by qPCR. Thanks to its extensive in-house expertise, GenDx also offers custom laboratory services for basic and clinical research organizations. GenDx organizes dedicated HLA SBT and chimerism monitoring training courses worldwide on a regular basis for lab directors, lab managers, scientists and technicians working in tissue typing laboratories, blood banks, and donor registries.

GenDx is based at the University Science Park in Utrecht, the Netherlands and was founded in 2005 by Erik Rozemuller PhD, Wietse Mulder PhD and UMC Utrecht Holdings B.V. represented by Oscar Schoots PhD and Raoul Linschoten LLM. Further information about GenDx can be found at www.GenDx.com.

GenDx has also an office near O’Hare airport, Chicago, IL (USA).

About High-Resolution HLA Typing

The Human Leukocyte Antigen (HLA) system consists of a large family of highly variable genes and allelic variants which form the basis of the human immunological defence system. In stem cell transplantation matching patient and donor is vital as small differences between HLA alleles may have serious effects on the outcome of transplantation. High-resolution typing is a technology which enables determination of even the smallest variations in nucleotides, making it ideal for stem cell transplantation purposes.

Until recently, Sanger sequencing-based HLA typing was considered as the golden standard for high-resolution typing. GenDx offers SBTexcellerator® and AlleleSEQR® together with the software package SBTengine® for carrying out Sanger based sequencing HLA typing. Next Generation Sequencing has become the new golden standard for HLA typing, as data analysis using NGS is becoming easier and faster to interpret and this technique is suitable for higher throughput. GenDx offers NGSgo® reagent line together with the software package NGSengine® for carrying out NGS based HLA typing.

About Chimerism Monitoring

After stem cell or bone marrow transplantation, both donor and recipient cells can be detected in the recipient’s blood (chimeric status). Monitoring the chimeric status allows for the detection of recipient cells returning over time, which can possibly lead to a relapse state. GenDx has been offering KMRtype/KMRtrack reagents since 2013.. Currently, the CE-IVD marked set contains 39 assays based on bi-allelic insertions/deletions and SNPs. Software package KMRengine generates a laboratory protocol, qPCR machine sample setup sheet, and data tracking for each recipient/donor couple over time.

About Ampersand Capital Partners

Founded in 1988, Ampersand is a middle market private equity firm dedicated to growth-oriented investments in the healthcare sector. With offices in Boston, MA and Amsterdam, Netherlands, Ampersand leverages a unique blend of private equity and operating experience to build value and drive superior long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of its core healthcare sectors, including Avista Pharma Solutions, Brammer Bio, Confluent Medical, Genewiz, Genoptix, Talecris Biotherapeutics, and Viracor-IBT Laboratories. Additional information about Ampersand is available at www.ampersandcapital.com.

GenDx Netherlands
Yalelaan 48
3584 CM Utrecht
Office: +31 30 252 3799
E-mail: info@gendx.com

Contact GenDx
Wietse Mulder PhD
CEO
Email: w.mulder@gendx.com
Phone: +31 30 252 3799

NGSgo®, NGSengine®, KMRtype®, KMRtrack® and KMRengine® are registered trademarks of GenDx. GenDx is a registered trade name of Genome Diagnostics B.V.

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Baird Capital Announces Sale of Hopebridge, Retains Minority Stake

Baird Capital

CHICAGO – May 8, 2019 – Baird Capital, the direct private investment arm of Baird, recently announced the sale of Hopebridge LLC (Hopebridge) to Arsenal Capital Partners. Baird Capital will retain a minority stake in the company. The financial terms of the deal were not disclosed.

Headquartered in Indianapolis, Hopebridge was founded in 2005 to serve the growing need for autism treatment services and to improve the lives of affected children and families. The company is committed to providing personalized outpatient ABA, occupational, speech, and feeding therapies for children touched by autism spectrum disorder and behavioral, physical, social, communication and sensory challenges. Hopebridge continues to open state-of-the-art autism therapy centers in new communities to reach patients and families who need services. With locations in Georgia, Indiana, Kentucky and Ohio, Hopebridge expects to operate 41 centers by June 2019, compared to 14 at the time of Baird’s initial 2017 investment.

“Baird Capital is fortunate to have worked with Hopebridge and its talented leadership team, and we are pleased to continue supporting the company’s future growth,” said Mike Bernstein, Partner, Baird Capital.

About Baird Capital
Baird Capital makes venture capital, growth equity and private equity investments in strategically targeted sectors around the world. Having invested in more than 300 companies over its history, Baird Capital partners with entrepreneurs and, leveraging its executive networks, strives to build exceptional companies. Baird Capital provides operational support to its portfolio companies through teams on the ground in the United States, Europe and Asia, a proactive portfolio operations team and a deep network of relationships, which together strive to deliver enhanced shareholder value. Baird Capital is the direct private investment arm of Robert W. Baird & Co. Incorporated. For more information, please visit BairdCapital.com.

For additional information, contact:
Baird Public Relations 
414-765-7250

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Antares and Bain Capital Credit Support Frazier Healthcare Partners’ Acquisition of Comprehensive Pharmacy Services

BainCapital

CHICAGO AND BOSTON, May 6, 2019 – The Antares Bain Capital Complete Financing Solution (ABCS), a joint venture between Antares and Bain Capital Credit, today announced the closing of a $270 million senior secured unitranche credit facility to support the acquisition of Comprehensive Pharmacy Services (“CPS”) by Frazier Healthcare Partners.

Founded in 1971 and employing over 2,500 clinical, regulatory, and operational pharmacy professionals, Comprehensive Pharmacy Services provides pharmacy support services to more than 700 hospitals and healthcare facilities across the U.S. and Puerto Rico.

“We appreciated the certainty and efficiency of the Antares and Bain Capital unitranche solution,” said Ben Magnano, general partner at Frazier Healthcare Partners.  “The Antares and Bain Capital Credit teams understand the complexities of the pharmacy space well and together delivered an optimal financing solution.”

“Antares is pleased to support Frazier Healthcare Partners and the continued growth of CPS, a trusted partner to pharmacy leaders,” said Benjamin Chapin, managing director with Antares.  “Through their use of data driven insights, fast reporting and real-time information they are distinct in their ability to deliver efficiencies and reduce costs for hospital customers.”

“Leveraging our deep sector expertise, we were able to add value and deliver a flexible financing solution that will allow Frazier Healthcare Partners to build on CPS’ strong market leadership position,” said Carolyn Hastings, a managing director at Bain Capital Credit.  “We are pleased to be supporting Frazier and look forward to a lasting collaboration as they support the company’s ongoing growth initiatives.”

ABCS provides private equity sponsors and borrowers with access to first lien unitranche loans of up to $350 million in a single transaction. Without the requirement of agency meetings or a syndication process, the Antares and Bain Capital unitranche offering delivers capital with speed and certainty.

About Antares 
With approximately $24 billion of capital under management and administration as of December 31, 2018, Antares is a private debt credit manager and leading provider of financing solutions for middle-market private equity-backed transactions. In 2018, Antares issued nearly $25 billion in financing commitments to borrowers through its robust suite of products including first lien revolvers, term loans and delayed draw term loans, 2nd lien term loans, unitranche facilities and equity investments. Antares world-class capital markets experts hold relationships with over 400 banks and institutional investors allowing the firm to structure, distribute and trade syndicated loans on behalf of its customers. Since its founding in 1996, Antares has been recognized by industry organizations as a leading provider of middle market private debt, most recently being named the 2018 Lender of the Year by ACG New York. The company maintains offices in Atlanta, Chicago, Los Angeles, New York and Toronto. Visit Antares at www.antares.com or follow the company on Twitter at www.twitter.com/antarescapital. Antares Capital is a subsidiary of Antares Holdings LP., collectively (“Antares”).

About Bain Capital Credit
Bain Capital Credit (www.baincapitalcredit.com) is a leading global credit specialist with approximately $41 billion in assets under management. Bain Capital Credit invests up and down the capital structure and across the spectrum of credit strategies, including leveraged loans, high-yield bonds, distressed debt, private lending, structured products, non-performing loans and equities. Our team of more than 200 professionals creates value through rigorous, independent analysis of thousands of corporate issuers around the world. In addition to credit, Bain Capital invests across asset classes including private equity, public equity and venture capital, and leverages the firm’s shared platform to capture opportunities in strategic areas of focus. Bain Capital Credit’s dedicated Private Credit Group focuses on providing complete financing solutions to businesses with EBITDA between $10 million and $100 million located in North America, Europe and Asia Pacific. Our dedicated global team affords us the ability to diligence the most complex situations and provide private capital to those companies.

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Apax Funds, CPPIB and PSP Investments agree to sell Acelity and its KCI Subsidiaries to 3M for $6.725 Billion

Apax

KCI is a leading global medical technology company focused on advanced wound care and specialty surgical applications. 

SAN ANTONIO and NEW YORK, May 2, 2019: A consortium comprised of funds advised by Apax Partners (the “Apax Funds”), together with Canada Pension Plan Investment Board (“CPPIB”) and the Public Sector Pension Investment Board (“PSP Investments”), today announced that it has entered into a definitive agreement to sell Acelity, Inc. and its KCI subsidiaries worldwide to 3M for approximately $6.725 billion. KCI markets a broad range of negative pressure wound therapy, specialty surgical and advanced wound dressing products in approximately 90 countries.

Since 2011, Apax Partners, CPPIB and PSP Investments worked closely with Acelity/KCI’s senior leadership team to transform the business into a leading global company focused on advanced wound care and specialty surgical solutions. The company’s strategic M&A program included targeted acquisitions, such as Systagenix, in 2013, and Crawford Healthcare, in 2018, and disposals of non-core businesses, such as the LifeCell business unit, which was sold for $2.9 billion in 2017, and the Therapeutic Support Systems (TSS) unit, which was sold in 2012. The company also has undertaken a range of organic growth initiatives including investments in R&D, clinical studies, and the expansion of its sales force.

The product offering includes the KCI-branded negative pressure wound therapy, advanced wound dressings, and negative pressure surgical incision management systems. The company’s industry-leading brands include V.A.C.® Therapy, PREVENA™ Therapy and PROMOGRAN PRISMA™ Matrix, as well as the iOn Digital Health platforms. Upon completion of the transaction, KCI will become an integral part of 3M’s Medical Solutions business, which applies 3M’s science to deliver safe and effective solutions that improve clinical outcomes and healthcare economics.

“Today, KCI embarks upon a new era in its long history as a pioneer in healthcare,” said R. Andrew Eckert, CEO of Acelity. “The combination of KCI with 3M will accelerate the reach of a business that is a leader in innovation, customer experience and clinical and economic evidence. Backed by the resources and expertise of 3M,KCIwill be able to offer clinicians and patients even more compelling solutions designed to speed healing and improve outcomes. I would like to thank Apax, CPPIB and PSP Investments for their close partnership and strategic direction over the years shaping KCI into a premier global advanced wound care company.”

Steven Dyson, Chairman of the Board of Acelity and Partner at Apax Partners, said, “We are proud of our close work with management to successfully transform KCI through a range of growth initiatives, including an M&A program, that enhanced the Company’s strategic direction. We believe the business will have a great future with 3M. Lastly, we are grateful for the opportunity to have joined in this highly successful investment with CPPIB and PSP, two long-standing investors in the Apax Funds.”

“CPPIB is pleased to have supported KCI’s delivery of medical devices and products that benefit millions of patients around the world. During our investment, the company helped restore lives with the launch of innovative solutions and expansion into new geographies,” said Ryan Selwood, Managing Director, Head of Direct Private Equity, CPPIB.

“We are proud to have supported KCI and its management team during its exciting transformation journey, in partnership with Apax and CPPIB,” said Simon Marc, Managing Director and Head of Private Equity, PSP Investments. “KCI has successfully invested into novel organic growth initiatives and we are confident about its continued growth prospects with 3M.”

The transaction will be effected through the sale of Acelity, Inc., a direct wholly-owned subsidiary of Acelity L.P. Inc., and is expected to close in the second half of 2019, subject to customary closing conditions and regulatory approvals.

JP Morgan and Goldman Sachs are acting as financial advisors to the consortium. Simpson Thacher & Bartlett LLP and Jackson Walker LLP are acting as legal advisors to the consortium.

About KCI, an Acelity Company
KCI, an Acelity Company, is a well trusted brand in advanced wound care. We are a leader in negative pressure wound therapy, providing solutions for both wound healing and surgical management. Our product offerings are available in more than 90 countries and deliver value through solutions that speed healing. KCI is a leader in quality, safety and customer experience and is committed to advancing the science of healing.  Headquartered in San Antonio, Texas, KCI employs approximately 4,500 people worldwide.

About Apax Partners
Apax Partners is a leading global private equity advisory firm. Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of over c.$50 billion. The Apax Funds invest in companies across four global sectors of Healthcare, Tech & Telco, Services, and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.

In Healthcare, the Apax Funds have invested c.$8 billion of equity across medical devices, pharmaceuticals, healthcare services and healthcare IT. Within the medical devices sub-sector, the Apax Healthcare team has partnered with a variety of businesses such as Mӧlnlycke, Vyaire Medical, Candela and Healthium to create strategic leaders in their space.

About Canada Pension Plan Investment Board
Canada Pension Plan Investment Board (CPPIB) is a professional investment management organization that invests the funds not needed by the Canada Pension Plan (CPP) to pay current benefits on behalf of 20 million contributors and beneficiaries. In order to build a diversified portfolio of CPP assets, CPPIB invests in public equities, private equities, real estate, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York City, São Paulo and Sydney, CPPIB is governed and managed independently of the Canada Pension Plan and at arm’s length from governments. At December 31, 2018, the CPP Fund totalled C$368.5 billion.For more information about CPPIB, please visit www.cppib.com or follow us on LinkedInFacebook or Twitter.

About PSP Investments
The Public Sector Pension Investment Board (PSP Investments) is one of Canada’s largest pension investment managers with C$158.9 billion of net assets as of September 30, 2018. It manages a diversified global portfolio composed of investments in public financial markets, private equity, real estate, infrastructure, natural resources and private debt. Established in 1999, PSP Investments manages net contributions to the pension funds of the federal Public Service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in Ottawa, PSP Investments has its principal business office in Montréal and offices in New York, London and Hong Kong. For more information, visit investpsp.com or follow us on Twitter and LinkedIn.

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Acelity Media Contacts:

Cheston Turbyfill,
VP, Corporate Communications Acelity
cheston.turbyfill@acelity.com
+1 312-952-0837

Acelity Investor Contacts:

David Clair, CFA,
Westwicke Partners
investors@acelity.com
+1-646-277-1266

Apax Partners: 

Global Media: Andrew Kenny, Apax | +44 20 7 872 6371 | andrew.kenny@apax.com
USA Media: Todd Fogarty, Kekst | +1 212-521 4854 | todd.fogarty@kekst.com
UK Media: Matthew Goodman, Greenbrook | +44 20 7952 2000 | apax@greenbrookpr.com

CPPIB:

Darryl Konynenbelt
Phone: +1 416-972-8389
Email: dkonynenbelt@cppib.com

PSP Investments:

Verena Garofalo
Phone: +1 (514) 218-3795
Email: media@investpsp.com

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Acelity

Leading provider of therapies and products for the advanced wound care, tissue regeneration and therapeutic support system markets

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Gimv’s Life Sciences team establishes Advisory Board. Industry veterans Darnaud, Hirth, Kola, Kutay, LeBeaut and Moses joining.

GIMV

29/04/2019 – 17:45 | Portfolio

Gimv announces it has created a Life Sciences Advisory Board. The new Advisory Board consists of 6 seasoned industry veterans with expertise in drug- and medtech development, company building and M&A. Michel Darnaud (former president cardiac surgery at LivaNova), Peter Hirth (former CEO Plexxikon), Ismail Kola (former CSO UCB), Kasim Kutay (CEO Novo Holdings), Alexandre LeBeaut (CSO Ipsen) and Edwin Moses (former CEO Ablynx) will assist the Gimv Life Sciences team with portfolio development, deal sourcing and assessing general industry trends.

Gimv has been active in Life Sciences since 1982, investing in more than 80 companies and generating a consistent top tier IRR. Successes include Ablynx, Plexxikon, Devgen, Covagen, Prosonix and Endosense. Embedded in the broader Health & Care platform, Gimv’s Life Sciences team is looking to invest in European early and late stage biotech and medtech companies in an amount of EUR 10-25 million per company, with funding coming from Gimv’s balance sheet in an evergreen setting. The Life Sciences team, including partners Karl Nägler, Bram Vanparys and Patrick Van Beneden, manages an active portfolio of 11 companies today and aims to expanding this to 15-20 companies over the coming years.

Karl Nägler: “Creating this advisory board highlights Gimv’s ambitions in the biotech and medtech field for the years to come. At Gimv we want to be partners for ambitious entrepreneurs. By establishing our Advisory Board we broaden the network and add value to our portfolio.”

Bram Vanparys adds “We are very happy to establish a close collaboration with these renowned and successful professionals, each of whom has done great things in our industry. With this collaboration, we can further increase Gimv’s value to patients, portfolio companies and shareholders.”

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Canopy Biosciences Acquires Zellkraftwerk GmbH

Simultaneously Closes Strategic Growth Investment from Ampersand Capital to Create a Leading Provider of Genomic and Cell and Tissue Analysis Products and Services

ST. LOUIS — Canopy Biosciences™, LLC, a leading provider of gene editing and gene expression products and services, announced today that it has acquired Zellkraftwerk GmbH, a leader in multiplex cytometry. Leveraging its innovative ChipCytometry platform, Zellkraftwerk offers complete workflow solutions—including both products and research services—for high-content cytometry on cells and tissues. The combination of Canopy and Zelkraftwerk creates a unique “multi-omics” company that boasts a powerful union of genomics expertise with cutting-edge cell and tissue analysis solutions to best support customers in drug development research and biomarker discovery. Concurrent with the acquisition, Canopy closed a strategic growth investment from Ampersand Capital Partners.

Edward Weinstein, Ph.D., co-founder and CEO of Canopy Biosciences, said “I am excited to complete the transformational acquisition of Zellkraftwerk and begin our partnership with Ampersand. Ampersand’s expertise and resources will benefit Canopy as we build a broader product and service offering for our customers, and the Zellkraftwerk acquisition provides a meaningful contribution to this strategy.” Weinstein continued, “Zellkraftwerk founders Jan Detmers and Christian Hennig have built a truly differentiated offering within the cell and tissue analysis market, and we’re excited to add their unique expertise and technology platform to Canopy Biosciences.”

Cofounder of Zellkraftwerk, Jan Detmers added, “As the scientific community continues to appreciate the roles and relationships between genotypes, phenotypes, and the environment, the need for “multi-omic” approaches to biomarker discovery and functional biology research has never been clearer. We are excited to partner with Canopy Biosciences and Ampersand to enhance our capabilities, scale, and geographic reach in the US, Europe, and Asia as we strive to best serve the evolving needs of our customers.”

Frank Witney, Ph.D., Operating Partner at Ampersand and incoming Chairman of Canopy, said, “Ampersand invests in high quality teams who manage rapidly growing businesses with established leadership positions in their specific markets, and Canopy is a great example. We are thrilled to have the opportunity to partner with Ed and the rest of the Canopy management team as they expand their gene editing and genomics analysis portfolio in combination with Zellkraftwerk’s unprecedented multiplex cytometry technology.”

Canopy was formed in 2016 by BioGenerator, the funding arm of BioSTL in St. Louis, MO. Charlie Bolten, Senior Vice President of BioGenerator added “Canopy’s product portfolio is a result of a strategic approach to identify novel technologies and quickly commercialize products and services that will make an immediate impact on today’s biomedical research. BioGenerator is proud to have played a role in the founding of this company and is excited at Canopy’s continued growth prospects in partnership with Ampersand.”



About Canopy Biosciences

Canopy Biosciences was formed in 2016 and has rapidly built a comprehensive platform of products and services for gene editing, gene expression analysis and regulation, and bioprocessing. Canopy’s gene editing portfolio spans easy-to-use CRISPR kits, off-the-shelf cell lines, as well as full service custom cell line engineering. With the introduction of RareSeq, Canopy has added ultrasensitive DNA sequencing to its multi-omics platform including RNAseq, NanoString gene expression analysis, and multiplexed protein detection. Canopy Biosciences is headquartered in St. Louis, Missouri, and serves researchers at universities, research institutions and biotechnology and pharmaceutical companies worldwide. Additional information is available at www.canopybiosciences.com.

About Zellkraftwerk GmbH

Zellkraftwerk GmbH, with its headquarters in Leipzig, manufactures ZellScanner™ ONE, the first device able to analyze more than 100 markers per cell based on the Chipcytometry technology. The device allows for deep insights into formerly unknown cell subpopulations and their state of activation, while its microfluidic chips can be additionally used for sample storage that guarantee biomarker stability for up to 24 months. Zellkraftwerk works closely with top biopharma, diagnostics, and academic scientists performing preclinical and clinical research to enhance their capabilities in sample preparation, biobanking, multiplexed protein and biomarker analysis, and data mining. Additional information is available at www.zellkraftwerk.com.

About Ampersand Capital Partners

Founded in 1988, Ampersand is a middle market private equity firm dedicated to growth-oriented investments in the healthcare sector. With offices in Boston and Amsterdam, Ampersand leverages its unique blend of private equity and operating experience to build value and drive superior long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of our core healthcare sectors, including Brammer Bio, Avista Pharma, Confluent Medical, Genewiz, Genoptix, Talecris Biotherapeutics and Viracor-IBT Laboratories. Additional information is available at www.ampersandcapital.com.

About BioGenerator

BioGenerator, the investment arm of BioSTL, produces a sustained pipeline of successful bioscience companies and entrepreneurs in St. Louis by creating, growing and investing in promising new enterprises. Additional information is available at www.biogenerator.org.

***

Contact:
Kevin Gamber
kevin.gamber@canopybiosciences.com
314-662-9987

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Montagu Private Equity announces the completion of the sale of D.O.R.C.

Montagu

Montagu Private Equity (“Montagu”), a leading European private equity firm, today announced the completion of the sale of Dutch Ophthalmic Research Center (“D.O.R.C.” or “the Company”), a leading provider of innovative instruments and equipment for ophthalmic surgery, to Eurazeo Capital. Terms of the transaction are not being disclosed.

Established in 1983, D.O.R.C. is a leading provider of innovative instruments and equipment for ophthalmic surgery. The product range includes high precision disposable and re-usable instruments, surgical liquids and surgical machinery that is used for vitreoretinal and cataract procedures. Headquartered in Zuidland, the Netherlands, D.O.R.C. serves a global customer base including surgical centres, hospitals and physicians across the US, Europe, the mid-East, Asia and South America. The Company has more than 500 employees worldwide.

 

The transaction was first announced on 13 March 2019 and has now received clearance from relevant competition and regulatory authorities.

 

Montagu was advised by HSBC and RBC Capital Markets.

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EURAZEO CAPITAL completes its acquisition of DORC

Eurazeo

Paris, April 25, 2019 – Eurazeo Capital announces the completion of the acquisition of DORC (Dutch
Ophthalmic Research Center), one of the global leading specialists of vitreoretinal surgery. Headquartered
in the Netherlands, DORC designs, manufactures and distributes ophthalmic surgery equipment,
consumables and instruments worldwide. DORC enjoys strong market positions notably in Western
Europe, and more recently in the US.
DORC has a strong brand recognition and is widely recognized for its innovation track record. It has
delivered a consistently strong financial performance, supported by growing global ophthalmic surgery
needs.

In 2018, DORC generated revenues of €125 million, with an average annual growth rate of 9% over the
past 3 years. The transaction consists in the acquisition of 100% of the share capital of DORC and will be
the fifth investment of Eurazeo Capital IV. The company is valued at c. €430 million (enterprise value), of
which c. €300 million equity funded by Eurazeo and its affiliates.

About Eurazeo
o Eurazeo is a leading global investment company, with a diversified portfolio of €17 billion in assets under
management, including nearly €11 billion from third parties, invested in over 300 companies. With its considerable
private equity, venture capital, real estate, private debt and fund of funds expertise, Eurazeo accompanies companies
of all sizes, supporting their development through the commitment of its 235 professionals and by offering deep sector
expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid
institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment
horizon enable Eurazeo to support its companies over the long term.
Eurazeo has offices in Paris, New York, Sao Paulo, Buenos Aires, Shanghai, London, Luxembourg, Frankfurt and
Madrid.
o Eurazeo is listed on Euronext Paris.
o ISIN: FR0000121121 – Bloomberg: RF FP – Reuters: EURA.PA

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