Tag Archives: healthcare

Gimv leads a 72 million € Series A financing round of Complement Therapeutics to finance further development of therapies for eye diseases

GIMV

17/04/2023 – 07:27 | Portfolio

Complement Therapeutics announces the closing of a 72 million € Series A financing round led by Gimv together with existing investor Forbion and further joined by BioGeneration Ventures (BGV), Panakes Partners, Cambridge Innovation Capital (CIC), Hadean Ventures and Seroba Life Sciences. Complement Therapeutics will use the proceeds of this round to continue to develop its innovative therapies for the treatment of complement-related diseases, with particular focus on ophtalmology.

Complement Therapeutics, a spin-out of the University of Manchester founded in 2021, aims to transform the treatment of complement-mediated conditions by developing novel therapies such as CTx001, an innovative AAV gene therapy for the treatment of geographic atrophy, a progressive and advanced form of age-related macular degeneration (AMD) associated with significant, irreversible loss of vision.

Furthermore, the financing round will allow Complement Therapeutics to evaluate its pipeline assets for non-ocular indications as well as further develop the novel Complement Precision Medicine (CPM) platform.

Michaël Vlemmix, Principal Life Sciences at Gimv and Board Director at CTx comments: “One of the pillars of our Life Sciences strategy is to invest in companies where cutting-edge science could lead to a potential paradigm shift in the treatment and lives of patients.  Complement Therapeutics is a key example of such an investment whereby we are proud to have been able to build a strong syndicate, supported by a high-quality current investor base.”

Rishabh Chawla, Associate of Gimv’s Life Sciences team and Observer at CTx adds:“With the ability to target the etiology of complement-related diseases along with a very experienced and dedicated management team, we are convinced that Complement Therapeutics will make a real difference to patients that have limited treatment options today.”

For more information, please read the full press release from Complement Therapeutics attached.

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Jeito Capital leads a $105 million series C financing in Alentis Therapeutics to advance transformational medicines for Claudin-1 in Cancer & Fibrosis

Jeito Capital
  • Funds will support the Phase I/II clinical development of Alentis’ two first-in-class anti-Claudin-1 (CLDN1) antibodies for organ fibrosis and CLDN1 positive tumors, and CLDN1 platform development
  • After its investment 2 years ago, Jeito Capital amplifies its partnership with Alentis Therapeutics, the leading player in CLDN1, in line with its strategy to grow companies and build potential market leaders to bring much needed treatments to benefit patients

Paris, France, April 13th 2023 – Jeito Capital (“Jeito”), the largest fully independent private equity firm dedicated to healthcare and biopharma in Europe, announced today that it has led a $105 million (€96 million) Series C financing in Alentis Therapeutics (“Alentis” or the “Company”), a clinical-stage biotech spun out of INSERM, based in Basel (Switzerland) with R&D in Strasbourg (France), that is developing breakthrough treatments for organ fibrosis and CLDN1 positive tumors. CLDN1, as part of the claudin family of transmembrane proteins, is a previously unexploited target that plays a key role in the physio-pathology of a broad range of solid tumors with immune evasive properties and fibrotic diseases across multiple organs.

The financing was led by Jeito together with Novo Holdings A/S and RA Capital Management with participation from existing investors including BB Pureos Bioventures, Bpifrance through its InnoBio 2 fund and Schroders Capital. Proceeds will be used to support the Phase II program of Alentis’ lead investigational products, ALE.F02, currently in development for the treatment of advanced kidney, lung and liver fibrosis, and the Phase I program of its lead oncology asset, ALE.C04, the first potential treatment to target CLDN1 positive (CLDN1+) tumors. Funds will also be used to develop the Company’s platform to engineer CLDN1 antibody drug conjugates (ADC) and bi-specific antibodies. The Claudin space in oncology has recently seen the success of CLDN-18.2 in gastric cancers. CLDN-1 has the advantage of a much broader expression profile, highlighting Alentis’ growth potential and significant commercial potential.

Jeito became a key investor in Alentis as part of a $67 million Series B financing in June 2021. Since then, Alentis has made significant progress. The Company’s Phase I multiple ascending dose study for ALE.F02 is expected to reach completion imminently. Alentis has also clearly defined the CLDN1+ cancer patient population, including T-cell excluded cancers, as the target for developing its ALE.C04 oncology treatment. The Company has established a platform to engineer CLDN1 ADCs (antibody drug conjugate) and bi-specific antibodies and has expanded its team in France, Switzerland and the US.

Dr. Rafaèle Tordjman, MD, PhD, Founder and CEO of Jeito Capital, commented : “Claudin-1 has enormous potential in multiple areas of fibrosis and across a broad range of cancers and, with Jeito’s support, Alentis has made significant progress over the past two years in identifying target populations while developing programs and advancing the platform. We are committed to continuing our partnership with the outstanding Alentis team as they are the leading player in the CLDN1 space and are well positioned to generate meaningful clinical data.”

Dr. Roberto Iacone, CEO at Alentis Therapeutics, said: “We are absolutely delighted with this support from our investors. There are huge unmet needs in organ fibrosis and cancer, and this funding enables us to continue with the important work we’re doing in the CLDN1 space and generate clinical data from both our programs. We can now aggressively develop CLDN1 biology in oncology and continue with the recruitment of our organ fibrosis trials while advancing our ADC and bi-specific antibodies.”

About Jeito Capital

Jeito Capital is a global leading Private Equity company with a patient benefit driven approach that finances and accelerates the development and growth of ground-breaking medical innovation. Jeito empowers and supports managers through its expert, integrated, multi-talented team and through the investment of significant capital to ensure the growth of companies, building market leaders in their respective therapeutic areas with accelerated patients’ access globally, especially in Europe and the United States. Jeito Capital has €534 million under management and a rapidly growing portfolio of investments. Jeito Capital is based in Paris with a presence in Europe and the United States.

For more information, please visit www.jeito.life or follow us on Twitter or LinkedIn.

About Alentis Therapeutics

Alentis Therapeutics, the CLDN1 company, is a clinical-stage biotechnology company that focuses on developing breakthrough treatments for CLDN1+ tumors and organ fibrosis. Alentis is pioneering a novel approach to modify and reverse the course of disease progression targeting CLDN1, a previously unexploited target that plays a key role in the pathology of tumors with immune evasive properties and fibrotic disease across multiple organs.

 

Alentis is the only company developing potential treatments for solid cancers and fibrosis targeting CLDN1. The company was founded in 2019 based on ground-breaking research in the laboratory of Prof. Thomas Baumert MD at the University of Strasbourg and the French National Institute of Health (Inserm). Alentis is headquartered in Basel’s pharma-biotech hub in Switzerland with an R&D subsidiary in Strasbourg, France and clinical operations in the US.

Visit https://alentis.ch

For further information please contact:

Jeito Capital
Rafaèle Tordjman
Assia Mouhout, EA
assia@jeito.life
Tel: +33 6 76 49 37 94

Consilium Strategic Communications
Mary-Jane Elliott /
Davide Salvi / Kris Lam
Jeito@consilium-comms.com
Tél. : +44 (0) 20 3709 5700 

AchTo Conseil
Marion Bougeard
marion@achto-conseil.fr
Tél. : +33 6 76 73 57 31 

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Inato Raises $20 Million in New Funding to Make Clinical Trials More Inclusive

Cathay Capital
March 30, 2023

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Vyaire Medical to Sell Consumables Business to SunMed

Apax

Vyaire Medical today announced an agreement for the sale of the Vyaire consumables business to SunMed, a leading North American manufacturer and distributor of consumable medical devices for anesthesia and respiratory care. The Vyaire consumables portfolio encompasses leading airway management and operative care technology, including well-known brands such as AirLife™ oxygen therapy, Vital Signs™ anesthesia circuits and SuperNO2VA™ nasal PAP ventilation. These established products offer a differentiated portfolio of products for patients.

0094 Vyaire Medical

“This divestiture allows Vyaire to focus on its industry-leading respiratory diagnostics and ventilation businesses and accelerate our strategic growth plans,” said Gaurav Agarwal, chief executive officer, Vyaire. “Uniting the industry-leading Vyaire consumables portfolio with SunMed’s compatible suite of products is a win-win for both companies, as well as customers and patients, and will enhance the potential for long-term growth of the combined consumables portfolio.”
“We are extremely pleased with this transaction, which will empower Vyaire to focus squarely on its specialty in respiratory diagnostics and ventilation moving forward, cementing its position as a market leader in this space,” said Steven Dyson, Partner at Apax. “We look forward to working with the Vyaire team on this exciting new chapter for the business.”

Upon completion of the transaction, the combined businesses will create a premier dedicated manufacturer of respiratory and anesthesia consumables. Together, these complementary product lines will enhance the overall product offering for SunMed’s customers and patients globally.

Terms of the agreement were not disclosed. Vyaire will continue to fully manage its consumables business and products until the transaction is finalized, with full support to customers, and will work to ensure continuity for partners and suppliers. The agreement is subject to antitrust regulatory clearance in the US. Pending such regulatory clearance and fulfillment of other conditions, Vyaire currently anticipates closing the transaction in the coming months.

Vyaire remains committed to its mission to empower the global respiratory community to enrich patients’ quality of breathing throughout their lives.

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Gimv participates in $105 million financing of Mediar Therapeutics alongside fellow leading global life sciences investors to develop first-in-class fibrosis therapies

GIMV

Topic: Investment

Mediar Therapeutics (Cambridge, MA, USA), a company developing a portfolio of first-in-class therapies to treat fibrosis, announces a 105mio USD financing including a 85mio USD Series A co-led by Novartis Venture Fund and Sofinnova Partners. The round is further joined by Gimv together with Pfizer Ventures, Mission BioCapital, Pureos, Bristol-Myers Squibb, Eli Lilly, Ono Venture Investment and Mass General Brigham Ventures.

Fibrosis, triggered by inflammation or injury, results in an abnormal production of scar tissue that can lead to organ failure. Luckily not all fibrosis leads to organ failure. Today, no cure for fibrosis exists and current therapies are suboptimal. Mediar Therapeutics was founded on pioneering fibrosis research from Harvard Medical School and Mass General Brigham & Women’s Hospitals. Mediar works on a pipeline of unique factors influencing myofibroblasts, the key cell type driving fibrosis progression.

This Series A financing will allow Mediar Therapeutics to accelerate with the development of a portfolio of first-in-class antibody treatments with a unique potential to treat fibrosis at different stages of the disease. Two of the programs will advance into human studies by 2024.

Andreas Jurgeit Ph.D, Partner Life Sciences at Gimv who has also joined the board of directors of Mediar Therapeutics comments: “Mediar is a unique combination of science, talent and the opportunity to serve a significant unmet medical need. Fibrosis contributes to a significant percentage of deaths in the industrialized world and today no cures or appropriate treatments exist. We are very pleased with Gimv joining a strong syndicate of leading global life sciences investors to back Mediar Therapeutics. We are looking forward to work closely together with the management, our industry partners and co-investors to realize Mediar Therapeutics’ mission.”

Christoph Kocher, Associate at Gimv, added: “Mediar’s vision of leveraging myofibroblast biology to address major unmet needs in patients suffering from fibrotic pathologies fully embodies the mission of Gimv´s Life Sciences platform: Building leading companies that have a sustained impact on patients and society.

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Jeito Capital Co-Leads a EUR 104 million financing in Noema Pharma, a clinical-stage biopharma company targeting debilitating central nervous system disorders

Jeito Capital
  • Noema Pharma’s clinical-stage assets and diversified pipeline hold significant potential in developing effective therapeutic options for patients with debilitating central nervous system (CNS) disorders, addressing high unmet medical needs
  • Jeito Capital’s investment in Noema Pharma marks its second in the field of neurological disorders and represents a significant opportunity to support this promising therapeutic area with high growth potential
  • Through its investment, Jeito Capital aims to promote the expansion and acceleration of Noema’s development activities and bolster value creation in France and in Europe, reinforcing its dedication to fostering the growth of biopharmaceutical champions in the region

Paris, France, March 7th 2023 – Jeito Capital (“Jeito”), the largest fully independent private equity firm dedicated to healthcare and biopharma in Europe, announced today that it has co-led a EUR 104 million (CHF 103 million, approx. USD 112 million) financing in Noema Pharma (the “Company”), a clinical-stage biopharma company targeting debilitating central nervous system (CNS) disorders. Noema Pharma has offices in Switzerland, France, and in the US.

The oversubscribed financing was co-led by Jeito and Forbion with participation from new investors such as the UPMC Enterprises joined by existing investors Sofinnova Partners, Polaris Partners, Gilde Healthcare and Invus.

Founded in 2019 in Paris, France, Noema Pharma currently has multiple active Phase 2b clinical trials in highly undertreated CNS conditions including seizures in Tuberous Sclerosis Complex, severe pain in Trigeminal Neuralgia and Childhood Onset Fluency Disorder. The Company has also completed a Phase 2a clinical trial in adult patients with Tourette Syndrome that is currently being extended to adolescents. As part of its indication expansion strategy, the Company also anticipates initiating clinical development in Atypical Depression and Binge Eating Disorders.

Proceeds from the financing will primarily be used to advance the Company’s clinical-stage assets.

Jeito selected Noema Pharma in line with its investment strategy of supporting the development of the most promising European biopharma companies with high growth and acceleration potential. As Jeito’s second investment in a biopharma company targeting neurological diseases, Noema Pharma’s maturing clinical-stage pipeline shows great promise for helping patients who currently lack effective treatments or face unmet medical needs.

In addition, Jeito will invest in Noema Pharma SAS (France), enabling it to expand its clinical trials and safety monitoring efforts in France and in Europe. This is expected to create new job opportunities and provide support for French and European suppliers in the manufacturing process. Rachel Mears, Partner at Jeito Capital, will join Noema Pharma’s Board of Directors.

Dr Rafaèle Tordjman, MD, PhD, Founder and CEO of Jeito Capital, commented : “We are excited to partner with Noema Pharma in their mission to accelerate the development of innovative treatments for debilitating CNS disorders. I am particularly proud that the company born in Paris three years ago, which developed in Switzerland and the US, continues to create value in France and Europe. This reflects Jeito Capital’s strong commitment to fostering the emergence of potential global biopharma leaders from Europe. As Jeito Capital’s second investment in a neurology company, Noema Pharma with its clinical-stage assets and diversified pipeline has shown significant potential for the development of effective innovative therapies for the benefit of patients.”

Rachel Mears, Partner at Jeito Capital, added: “One of the pillars of our investment strategy is to deploy capital in truly differentiated and innovative therapies with high unmet medical need. The clinical work being undertaken by Noema Pharma fit these criteria exactly. The expertise, quality and dedication of the Noema team are clear to see in their development work and position the Company as an upcoming global CNS leader. We are excited to partner with Noema Pharma to accelerate its mission of developing effective solutions for patients with CNS disorders and are committed to supporting their continued growth and success.”

Luigi Costa, Chief Executive Officer of Noema Pharma, said: “We are excited to announce the successful completion of this oversubscribed Series B financing round and very pleased to have a world-class group of investors supporting our vision of bringing much-needed treatments to those living with debilitating central nervous system disorders. We welcome our new investors who bring extensive expertise and knowledge of drug development and company building and add further strength to our robust investor base. This financing comes at a key time for Noema Pharma as we look forward to extensive news flow over the next 24 months.”

About Jeito Capital

Jeito Capital is a global leading Private Equity company with a patient benefit driven approach that finances and accelerates the development and growth of ground-breaking medical innovation. Jeito empowers and supports managers through its expert, integrated, multi-talented team and through the investment of significant capital to ensure the growth of companies, building market leaders in their respective therapeutic areas with accelerated patients’ access globally, especially in Europe and the United States. Jeito Capital has €534 million under management and a rapidly growing portfolio of investments. Jeito Capital is based in Paris with a presence in Europe and the United States.

For more information, please visit www.jeito.life or follow us on Twitter or LinkedIn.

About Noema Pharma

Noema Pharma (www.noemapharma.com) is a clinical-stage biotech company targeting debilitating central nervous system (CNS) disorders characterized by imbalanced neuronal networks. The Company has a well differentiated pipeline with four mid clinical-stage therapeutic product candidates in-licensed from Roche. Noema currently has 3 active Phase 2b clinical trials in highly undertreated CNS conditions: seizures in Tuberous Sclerosis Complex, severe pain in Trigeminal Neuralgia and Childhood Onset Fluency Disorder. The Company has completed a Phase 2a clinical trial in adult patients with Tourette Syndrome that is currently being extended with an adolescent cohort. The Company has also completed preclinical validation studies in Atypical Depression and Binge Eating Disorder. Noema Pharma was founded in 2019 by the leading venture capital firm Sofinnova Partners. Additional investors include Biomed Partners, Forbion, Gilde Healthcare, Invus, Jeito Capital, Polaris Partners, UPMC Enterprises, and an undisclosed investor.

For further information please contact:

Jeito Capital
Rafaèle Tordjman
Assia Mouhout, EA
assia@jeito.life
Tel: +33 6 76 49 37 94

Consilium Strategic Communications
Mary-Jane Elliott /
Davide Salvi / Kris Lam
Jeito@consilium-comms.com
Tél. : +44 (0) 20 3709 5700 

Press
Marion Bougeard
marion@achto-conseil.fr
Tél. : +33 6 76 73 57 31 

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Ardian acquires stake in Théradial group, a leading provider of medical solutions for dialysis

Ardian

08 February 2023 Growth France, Paris

Ardian is partnering with UI Investissement, which led a first transaction in 2017 alongside Théradial’s current management team.

Ardian, a world-leading private investment house, has acquired a stake in Théradial, a leading French player in the dialysis sector targeting high value-add segments in three main divisions: medical devices, drugs and healthcare software.

Founded in 1998 by Bruno Duval, and led by CEO Frédéric le Pottier since 2017, Théradial group is the leading French distributor of medical devices, drugs, oral nutritional supplements and software solutions for dialysis, oncology, gastroenterology and clinical nutrition. The group is headquartered near Nantes, France, and has 90 employees across France and Italy.

The group’s activity is structured around several divisions. The first – based on the group’s initial offering – is centered around the distribution of haemodialysis machines and other medical devices related to dialysis, which enables the removal of toxins from the blood that are usually filtered by the kidneys. The second is its portfolio of specialties medicines, which were developed when Théradial became a pharmaceutical establishment in 2014. Since 2021, Théradial has also developed a range of nutritional supplements for patients undergoing dialysis, which the group offers in partnership with the pharmaceutical company Indigo Therapeutics. The group’s third major division is its digital activity with EMA and SINED, proprietary software developed by Thema Group to support dialysis centres which was acquired by Théradial in 2019.

Over the last five years, Théradial has strengthened its market position, notably by increasing market share through its medical device offering, the launch of its dedicated pharmaceutical division, and the acquisition of Thema Group in 2019. Théradial Group’s offerings are primarily aimed at public health institutions, in addition to offering solutions and services to associations, private clinics and homecare providers.

Théradial has a skilled and experienced management team, built around its CEO Frédéric Le Pottier, which has ensured the continued development of the company, notably by diversifying through organic and external growth initiatives.

Alongside the management team, Ardian’s Growth team will support Théradial in a new phase of growth, based on four main objectives: to maintain a strong positioning in its original areas of expertise; to continue strengthening its medicinal solutions business; to accelerate the development of its nutrition offering; and to increase the market penetration of its Digital division.

“We are proud of this strategic partnership with the Théradial Group. We have followed the company’s growth closely over the past five years, and we have seen its full potential, driven by a skilled management team that we are delighted to now work alongside.” Alexis Saada, Head of Growth and Managing Director, Ardian

“The services offered by Théradial are highly essential and Théradial has been able to develop a strong expertise, while exploring solutions to better support patients receiving dialysis care. We are pleased to support Frédéric Le Pottier and his management team in a new phase of growth and we thank them for their confidence in Ardian.” Frédéric Quéru, Managing Director, Ardian

“We are delighted to welcome Ardian, who will support our leadership team and strengthen our market positioning. Partnering with a renowned investor like Ardian will enable us to implement our ambitious growth strategy and to further enhance our digital expertise and capacity for innovation.” Frédéric Le Pottier, CEO, Théradial

“This partnership with Ardian, a leading private investment house, perfectly illustrates the high ambitions that UI Investissement has for Théradial.  Together, we will facilitate the handover from Bruno Duval to his management team, and support Frédéric Le Pottier and his team in implementing Théradial’s transformation, strengthening its offer and expertise, and enhancing its external growth. In a sector where public interest is paramount, we are confident in Théradial’s development and positive impact.” Olivier Jarrousse, Managing Partner, UI Investissement

ADVISOR

  • ARDIAN

    • Deal team: Alexis Saada, Frédéric Quéru, Florian Dupont, Léa Chaplain
    • Financial advisor: Deloitte (Vania Mermoud, Renaud Adam, William Bray, Anas Majbar)
    • Strategic advisor: Opus Line (Alix Pradere, Youssef Mallat, Bertrand De Neuville)
    • Legal, regulatory and tax advisor: McDermott (Anne-France Moreau, Caroline Noyez)
    • Corporate lawyer: McDermott (Diana Hund, Herschel Guez, Robin Lamour)
    • Financing lawyer: McDermott (Pierre-Arnoux Mayoly, Shirin Deyhim, Camille Judas, Martin Baffou)
    • Tax lawyer: McDermott (Côme De Saint-Vincent, Oriane Beauvois)

  • UI Investissement

    • Deal team: Olivier Jarrousse, Stéphanie Pépineau
    • Structuring advisor: EdR (Nicolas Durieux, Pierre Boscher et Alexis Platet)
    • Financial advisor: PWC (Philippe Serzec, Guillaume De Rancourt, Ghita Rais, Louis Morante)
    • Strategic advisor: Ariane Santé Social (Thierry Boval, Agnès Robert)
    • Corporate lawyer: De Pardieu Brocas Maffei (Cédric Chanas, Mathieu Retiveau, Warren Wilson, Enguerrand Maloisel, Priscilla Van Den Perre)

  • Management

    • Management team: Frédéric Le Pottier
    • Corporate lawyer: Fidal (Sally-Anne Mc Mahon, Caroline Vanhoucke)
    • Tax lawyer: Fidal (Rozenn Berthelot, Edith Gueye)

  • Financing

    • Debt team: LCL (Silvère Prin, Karine Segur, Marion Johan, Charley Boulet), CIC Ouest (Marie-Line Goudé), Société Générale (Benoît Douard, Julien Rissel)
    • Financing lawyer: Sabine Bironneau-Loy

ABOUT ARDIAN

Ardian is a world-leading private investment house, managing or advising $140bn of assets on behalf of more than 1,400 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian is majority-owned by its employees and places great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our1,000+ employees, spread across 16 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.
At Ardian we invest all of ourselves in building companies that last.

ardian.com

ABOUT UI INVESTISSEMENT

An independent company specializing in the development of unlisted French companies, UI has been committed to working alongside the managers of growing start-ups, SMEs and ETIs for more than 50 years to help them emerge and develop economically and sustainably successful companies.
UI Investissement manages nearly €1.5 billion and invests with 300 managers in sectors of activity that are essential to society, such as health, agribusiness, services and industry. Growth and buyout capital, the historical core of UI’s activity, represents more than half of the assets under management and some fifty companies that can rely on UI’s operational expertise and methodological tools. At the same time, the teams and investment vehicles dedicated to innovation and consolidation enable us to support companies throughout their life cycle and contribute to the economic dynamism of the regions. UI currently has more than 70 employees and 13 regional offices in Besançon, Clermont-Ferrand, Dijon, Lille, Limoges, Lyon, Marseille, Nantes, Orleans, Reims, Rennes and Strasbourg, in addition to its teams in Paris.

ui-investissement.com

ABOUT THÉRADIAL

Theradial group specialises in the distribution of medical devices, pharmaceutical specialities, oral nutritional supplements and software solutions for dialysis, oncology, gastroenterology and clinical nutrition

theradial.com

Press contact

ARDIAN

HEADLAND

ardian@headlandconsultancy.fr

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3i announces the sale of Q Holding’s Precision Components Division for proceeds of c.$172m

3I

3i Group plc (“3i”) today announces that it has agreed the sale of Q Holding’s Precision Components Division, a leading provider of silicone and elastomeric molding and extrusion capabilities to the medical device and biopharma markets, to Cirtec Medical and SaniSure. Proceeds to 3i are expected to be c.$172m.

Cirtec Medical is acquiring Precision Components’ Rock Hill and Sturtevant operations and medical extrusion capabilities, which will provide Cirtec with additional high-value capabilities, such as silicone molding, silicone extrusion and polyisoprene molding, and exposure to complementary highgrowth end-markets including robotic surgery. This transaction enhances Cirtec’s ability to deliver vertically integrated capabilities, including engineering, tooling, and the manufacturing of critical components, sub-assemblies and fully-assembled complex devices.

SaniSure, a leader in single-use bioprocessing solutions, has acquired Precision Components’ Twinsburg operations, which produce industry leading silicone tubing. The addition of the Twinsburg facility will complement SaniSure’s existing portfolio of silicone and thermoplastic tubing products, further vertically integrating the business and enabling it to provide its customers with the highest quality components and assemblies in the industry.

3i invested in Precision Components’ parent Q Holding in 2014 and during its ownership has supported the acquisitions of Degania Medical and Silicone Altimex, and invested to expand its global manufacturing footprint with new facilities in Mexico, supporting investments in Europe, China and India. In April 2022, Q Holding’s QSR division, a leading developer and manufacturer of electrical connector seals, was sold to Datwyler.

Following this transaction, Q Holding will consist of its Catheter Technologies segment, which comprises the Degania, Arthesys and Biometrix brands that serve the medical device market with a wide range of catheter products. Catheter Technologies serves leading global OEMs with catheter solutions for the cardiovascular, vascular, enteral feeding, urology and general surgery markets. The segment has facilities in Israel, France, India and Slovakia.

Richard Relyea, Partner, 3i, commented: “We are proud to have partnered with Q’s leadership team to grow Precision Components into a leading global manufacturer of highly-engineered medical device components. These transactions will enable the continued strong growth of the Precision Components operations, aligning them with highly complementary companies and teams that bring additional capabilities and enhanced solutions that will benefit their customers and patients. We look forward to continuing to work with Catheter Technologies to achieve its growth initiatives.”The transaction is expected to complete in the quarter, subject to customary antitrust approvals.

-Ends-

Download this press release  

3i Group plc
Kathryn van der Kroft
Media enquiries		 Tel: +44 20 7975 3021
Email: kathryn.vanderkroft@3i.com
Silvia Santoro
Shareholder enquiries		 Tel: +44 20 7975 3285
Email: silvia.santoro@3i.com

Notes to editors:

About 3i Group

3i is a leading international investment manager focused on mid-market Private Equity and Infrastructure. Its core investment markets are northern Europe and North America. For further information, please visit: www.3i.com

About Precision Components

Precision Components is a leading elastomeric solutions provider serving the medical device market. The company has decades of experience providing silicone, polyisoprene and other elastomersbased seals, valves, stoppers, duckbills, and other solutions created to customer specifications.

Regulatory information

This transaction involved a recommendation of 3i Corporation, a US wholly owned subsidiary of 3i Group.

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Ratos Company TFS HealthScience acquires Appletree CI Group

Ratos

TFS HealthScience (TFS), a global contract research organization (CRO), acquires Appletree CI Group (Appletree) to enhance the company’s existing expertise in the complex fields of ophthalmology, medical devices, and pediatric studies, simultaneously expanding geographic reach for clients.

Appletree CI Group was founded in 2013. The company is focused on five primary business areas; in addition to ophthalmology and medical devices, they have expertise in the fields of dermatology, pediatric trials, and regulatory affairs.

 

Ophthalmology is a rapidly growing field of medicine, with novel innovations and cutting-edge treatments for sight-threatening diseases.

“The acquisition is fully in line with Ratos strategy, where add-on acquisitions as part of growing existing companies in the group are an important part. We are proud of the successful development of TFS and look forward to a new year where TFS will play an important role in our increased commitment to professional services”, says Anders Slettengren, Chairman of the board of TFS and Executive Vice President, Ratos.

 

The strategic acquisition of Appletree will complement TFS HealthScience’s mission to be a market leader in ophthalmology research. The two companies will now offer complimentary and expanded service offerings to clients, including a specialized therapeutic focus in ophthalmology, significantly expanding the company’s global footprint.

 

“We are proud to partner with Appletree as we continue to provide our clients with in-depth, comprehensive knowledge and therapeutic expertise, particularly in the field of ophthalmology,” said CEO of TFS HealthScience, Bassem Saleh. “This acquisition is a clear indicator of the growth and success of TFS. The partnership with Appletree will have a measurable impact on better treatments for patients and company growth, establishing a new presence in Switzerland and additional presence in Poland, Belgium, Hungary, and the U.K.”

 

About TFS HealthScience

TFS HealthScience is a global Contract Research Organization (CRO) that supports biotechnology and pharmaceutical companies throughout their entire clinical development journey. In partnership with customers, they build solution-driven teams working for a healthier future. Bringing together nearly 800 professionals, TFS delivers tailored clinical research services in more than 40 countries.

 

About Appletree CI Group

Appletree CI Group is an expert niche CRO and global regulatory affairs service provider with track records in ophthalmology and medical device investigations. They are present in 11 European countries and have over 30 permanent staff. By having an in-depth understanding of local cultures and customs, as well as experience with national regulations they are able to facilitate your clinical development and regulatory projects.

For more information, please contact
Josefine Uppling, VP, Communication, Ratos, +46 76 114 54 21, josefine.uppling@ratos.com

About Ratos
Ratos is a business group consisting of 16 companies divided into three business areas: Construction & Services, Consumer and Industry. The companies have approximately SEK 30 billion in net sales (LTM). Our business concept is to own and develop companies that are or can become market leaders. We have a distinct corporate culture and strategy – everything we do is based on our core values: Simplicity, Speed in execution and It’s All About People. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas.

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Montagu agrees to sell Maincare

Montagu

Montagu, a leading European private equity firm, is pleased to announce that it has agreed to sell Maincare, a provider of software for French public hospitals and health authorities, to Docaposte, the digital arm of La Poste, the French postal service.

Maincare provides an end-to-end hospital information system offering in France, where it is a leader in electronic patient records as well as hospital administration, interoperability, and telemedicine solutions. Through its integrated software suite, it assists public hospitals, payers, and insurers to implement successful digital strategies for the benefit of patients.

Since Montagu acquired Maincare in 2018, it has worked with the business to respond to the rapidly changing needs of policymakers and hospitals, in particular in the wake of the Covid-19 pandemic. Significant investments in R&D led to the development of new-generation electronic patient records as well as the modernisation of Maincare’s technology ensuring that products are interoperable, SaaS-ready, and at the forefront of innovation in terms of cyber-security.

Under Montagu’s ownership, Maincare’s historically acquired business lines were combined from an organisational and technology standpoint, introducing a shared vision and strategy to the business and driving efficiencies. Led by a strong and unified management team, the changes helped to establish a customer-centric culture which put the needs of medical personnel and patients at the centre of the organisation.

Montagu Partner Guillaume Jabalot said, “Maincare is a great example of Montagu’s strategy of partnering with leading companies offering critical products and services. We are proud of the success Maincare has achieved and we are certain that the company will continue to thrive under the ownership of Docaposte. We especially would like to thank the management team and all Maincare’s employees for their hard work and dedication and we wish them all the best on their future journey.”

Maincare is a great example of Montagu’s strategy of partnering with leading companies offering critical products and services.

Guillaume Jabalot, Partner, Montagu

François-Xavier Floren, CEO of Maincare, commented: “The partnership with Docaposte will allow us to address one of the major challenges of our market – the importance of offering customers long-term support with a trusted partner present in software, hosting and services. Over the last two years, with the support of Montagu, we successfully carried out a transformation plan aimed at improving one of the persistent challenges of the French hospital system by “Giving time back to the Caregivers”. The management team and all Maincare’s employees are confident that the partnership with Docaposte will bring further significant value to our clients and to the market.”

Over the last two years, with the support of Montagu, we successfully carried out a transformation plan aimed at improving one of the persistent challenges of the French hospital system by “Giving time back to the Caregivers”.

François-Xavier Floren, CEO, Maincare

The transaction remains subject to the approval of the French competition authority.

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