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Andera Partners Strengthens Its Presence In Spain With The Appointment Of Ignacio Moreno Martínez As Senior Advisor.

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Andera Partners

Andera Partners, a leading European private equity firm with over €4.8 billion in assets under management, announces the appointment of Ignacio Moreno Martínez as Senior Advisor to support the development of its MidCap strategy in Spain. This strategic appointment reinforces Andera’s commitment to the Spanish market and its ambition to support the growth and transformation of local SMEs.

Ignacio Moreno, currently Non-Executive Chairman of Metrovacesa and a board member of Telefónica Brazil and GAM among others, brings extensive experience in the private equity sector. He has served as CEO of two of Spain’s leading private equity firms, Vista Capital and Alantra Private Equity, and as senior advisor to Apollo and BC Partners. Earlier in his career, he held senior roles at Argentaria and BBVA and at the private equity fund Mercapital. He holds a degree in Economics and Business Administration from Universidad de Bilbao and an MBA from INSEAD (Fontainebleau).

Ignacio joins the Andera MidCap team, which opened its Madrid office in November 2024 under the leadership of Gonzalo Boada. The fund targets investments in European SMEs, including Spanish and Portuguese companies with revenues between €50 million and €500 million, aiming to accelerate their growth and international expansion. Andera is known for its ability to execute complementary acquisitions that drive growth through buy & build strategies. In Spain, for example, it acquired the education group Ilerna to boost the development of its portfolio company Skill&You.

“I am delighted to join Andera Partners and contribute to its mission of supporting the growth of Spanish SMEs. Andera’s collaborative approach and long-term vision make it the ideal partner for entrepreneurs seeking to scale their businesses sustainably,” said Ignacio Moreno.

François-Xavier Mauron, Partner at Andera MidCap and Co-Managing Partner of Andera Partners, added: “Ignacio’s appointment marks a key milestone in our expansion in Spain. His deep knowledge of the local market, experience in private equity, and extensive network will be instrumental in strengthening our presence and delivering value to Spanish SMEs.”

This reinforcement of Andera MidCap’s strategy in Spain is in line with the global strategy of Andera Partners, which seeks to strengthen its presence on the European markets with strong growth potential. The firm recently announced the recruitment of Senior Advisors in Belgium, Germany and Italy to support entrepreneurial managers throughout Europe, with innovative financing solutions and a large operational proximity.

Categories: People

Waystar to Acquire Iodine Software, Accelerating the AI-Powered Transformation of Healthcare Payments

Advent
  • Extends Waystar’s AI leadership into clinical intelligence software, unlocking greater value for clients and shareholders
  • Highly recurring subscription-based business projected to be accretive to Waystar’s financial profile
  • Expected to expand Waystar’s total addressable market by more than 15%
  • Conference call to be held Wednesday, July 23, 2025, at 5:30 p.m. ET

LEHI, Utah, LOUISVILLE, Ky., and AUSTIN, Tex., July 23, 2025 – Waystar (Nasdaq: WAY), a provider of leading healthcare payment software, today announced a definitive agreement to acquire 100% of Iodine Software (“Iodine”) from shareholders led by Advent International, a leading global private equity investor, for a total enterprise value of $1.25 billion. The proposed transaction is expected to accelerate Waystar’s ability to transform healthcare payments through its leading cloud-based software platform, empowering more than one million providers with advanced AI capabilities to prevent denials, reduce manual work, and improve financial performance.

Building on Waystar’s track record of successful M&A execution and synergy realization, Waystar expects the acquisition of Iodine to be immediately accretive to gross margin and adjusted EBITDA margin, and accretive to revenue growth and non-GAAP net income per diluted share in 2027.

Iodine is trusted by many of the nation’s premier health systems for its AI-powered clinical intelligence software. Up to 60 million claims are denied each year due to administrative errors in the critical stage between care delivery and submission, costing providers billions in lost revenue. This highlights the essential role of accurate clinical documentation and coding in preventing revenue leakage and underpayments.

Together, Waystar and Iodine will be better positioned to help decrease the estimated $440 billion in annual administrative costs* burdening providers. Waystar brings a decade-long track record of applying AI pervasively across its software platform to simplify healthcare payments. Iodine extends that leadership into clinical intelligence software, leveraging proprietary AI models trained on one of the industry’s largest clinical datasets, representing more than a third of all U.S. inpatient discharges.

“Our mission is to simplify healthcare payments by eradicating unnecessary denied claims, automating manual work, and increasing transparency for providers and patients,” said Matt Hawkins, Chief Executive Officer of Waystar. “We are committed to transforming healthcare through harnessing the power of AI to tackle the most critical challenges in healthcare payments. Welcoming Iodine’s talented team and clinical intelligence platform to Waystar is a terrific next step in achieving our mission.”

“We are proud to have built a market-leading AI software company in partnership with Advent, Bain Capital Ventures, and Silversmith Capital Partners, and are thrilled to join Waystar, an organization that shares our deep commitment to modernizing the revenue cycle for providers,” said William Chan, Co-Founder and Chief Executive Officer of Iodine Software. “From day one, our focus has been helping hospitals and health systems capture the full value of care through transformational AI. As part of Waystar, we are excited to accelerate that mission and amplify the value delivered to healthcare providers.”

“Our success has been driven by strong partnerships, continuous innovation, and meaningful outcomes,” added Mike Kadyan, Co-Founder and Chairman of Iodine Software. “We look forward to delivering even greater outcomes for providers as part of Waystar’s market-leading platform.”

“It has been a privilege to partner alongside the Iodine team as they have built a category-defining AI-powered revenue cycle platform consistently delivering exceptional ROI to its clients,” said Lauren Young and Carmine Petrone, Managing Directors at Advent. “We are excited to build on that foundation together with Waystar to drive even greater impact across healthcare, empowering organizations to optimize their financial performance.”

Strategic and Financial Benefits

  • Unlocks transformational outcomes across the revenue cycle: Waystar expects to unlock new automation throughout its platform, leveraging Iodine’s industry-leading AI capabilities in clinical documentation integrity, utilization management, and prebill revenue leakage identification to further streamline cumbersome tasks for providers. The addition of these solutions is expected to expand Waystar’s total addressable market by more than 15%.
  • Accelerates AI innovation with clinical intelligence: Integrating Iodine’s unique clinical data assets with Waystar’s expansive data network is expected to enhance the impact and reach of Waystar AltitudeAI™. Waystar expects to create opportunities that quickly expand GenAI applications in prior authorizations, claims management and processing, denial prevention, and appeals. Iodine’s proprietary clinical AI engine, IodineIQ, continuously trains on millions of patient encounters and billions of clinical data points to deliver relevant insights.
  • Deepens relationships with premier health systems: Iodine brings strong adoption and credibility among leading hospitals and health systems. Iodine’s footprint is expected to expand Waystar’s scale and deepen relationships with premier providers. The combined company is expected to serve 17 of the 20 U.S. News Best Hospitals.
  • Strengthens Waystar’s financial profile: Waystar will benefit from Iodine’s fully subscription-based revenue model as well as significant cross-sell potential to both companies’ client bases. In addition, Waystar has identified more than $15 million in run-rate cost synergies, to be realized within the first 18-24 months following closing.

Transaction Details
The transaction will be funded with a 50/50 mix of cash and stock consideration. Upon closing of the transaction, current Waystar shareholders will own approximately 92% of the combined company on a fully diluted, pro forma basis and Iodine equity holders will own approximately 8%. Advent, Iodine’s largest shareholder, is expected to only receive Waystar shares in connection with the transaction and will agree to be locked up for 18 months after closing.

Following the transaction, Waystar expects to maintain a strong balance sheet with an estimated adjusted net leverage ratio at transaction close of approximately 3.5x.

The transaction is anticipated to close by year-end 2025, subject to customary closing conditions and applicable regulatory approvals.

Preliminary Second Quarter 2025 Results
Waystar expects second quarter 2025 revenue to be approximately $271 million, representing approximately 15% year-over-year growth.

The foregoing estimates are preliminary and unaudited and based on management’s initial analysis of operations for the quarter. Waystar looks forward to sharing additional information regarding the company’s second quarter 2025 results as previously scheduled on July 30, 2025.

Advisors
Barclays is serving as exclusive financial advisor, and Simpson Thacher & Bartlett LLP is serving as legal advisor to Waystar.

J.P. Morgan Securities is serving as exclusive financial advisor, and Weil, Gotshal & Manges LLP and Queen Saenz + Schultz PLLC are serving as legal advisors to Iodine.

Conference Call
Waystar will discuss the transaction on a conference call today, Wednesday, July 23, 2025, at 5:30 p.m. Eastern Time. The conference call can be accessed by dialing (800) 715-9871 from the United States and Canada or (646) 307-1963 internationally and using conference code 8810133. A live audio webcast of the conference call will be available on Waystar’s investor relations website at investors.waystar.com/news-events/events. Following the call, an audio replay will be archived on the site.

*CAQH Index Report 2024

About Waystar

Waystar’s mission-critical software is purpose-built to simplify healthcare payments so providers can prioritize patient care and optimize their financial performance. Waystar serves approximately 30,000 clients, representing over 1 million distinct providers, including 16 of 20 institutions on the U.S. News Best Hospitals list. Waystar’s enterprise-grade platform annually processes over 6 billion healthcare payment transactions, including over $1.8 trillion in annual gross claims and spanning approximately 50% of U.S. patients. Waystar strives to transform healthcare payments so providers can focus on what matters most: their patients and communities. Discover the way forward at waystar.com.

About Iodine Software

Iodine Software is the leader in AI-powered clinical intelligence, built to eliminate revenue leakage, lower administrative burden, and ensure accurate reimbursement. Trusted by more than 1,000 hospitals and health systems, Iodine delivers real-time insight and automation across the mid-revenue cycle: connecting clinical documentation, utilization management, and prebill workflows from admission through claim submission. For over a decade, health systems have trusted Iodine to apply the right AI – from machine learning, deep learning, large language models, GenAI, to Agentic AI – to the right use case, consistently delivering reliable, high-impact financial results.

At the core of the platform is IodineIQ, our proprietary Clinical Reasoning Knowledge Engine, featuring a robust clinical condition library and a dataset of millions of patient encounters and billions of clinical data points. IodineIQ mirrors clinical reasoning to surface opportunities, predict outcomes, and guide decisions; ensuring the patient’s clinical picture is fully and accurately reflected in status, documentation, and final codes. Discover more at www.iodinesoftware.com.

About Advent

Advent is a leading global private equity investor committed to working in partnership with management teams, entrepreneurs, and founders to help transform businesses. With 16 offices across five continents, we oversee more than USD $94 billion in assets under management** and have made over 430 investments across 44 countries.

Since our founding in 1984, we have developed specialist market expertise across our five core sectors: business & financial services, consumer, healthcare, industrial, and technology. This approach is bolstered by our deep sub-sector knowledge, which informs every aspect of our investment strategy, from sourcing opportunities to working in partnership with management to execute value creation plans. We bring hands-on operational expertise to enhance and accelerate businesses.

As one of the largest privately-owned partnerships, our 660+ colleagues leverage the full ecosystem of Advent’s global resources, including our Portfolio Support Group, insights provided by industry expert Operating Partners and Operations Advisors, as well as bespoke tools to support and guide our portfolio companies as they seek to achieve their strategic goals.

To learn more, visit our website or connect with us on LinkedIn.

**Assets under management (AUM) as of March 31, 2025. AUM includes assets attributable to Advent advisory clients as well as employee and third-party co-investment vehicles.

Forward-Looking Statements
This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that reflect our current views with respect to, among other things, statements regarding Waystar’s expectations relating to future operating results and financial position, including full year 2025, and future periods; anticipated future investments; our industry, business strategy, goals, and deployment of artificial intelligence in our solutions, our market position, offerings, future operations, margins, and profitability. Forward-looking statements include all statements that are not historical facts. These statements may include words such as “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “future,” “will,” “seek,” “foreseeable,” “outlook,” the negative version of these words or similar terms and phrases to identify forward-looking statements in this press release, including any discussion of our guidance for full fiscal year 2025.

The forward-looking statements contained in this press release are based on management’s current expectations and are not guarantees of future performance. The forward-looking statements are subject to various risks, uncertainties, assumptions, or changes in circumstances that are difficult to predict or quantify. Our expectations, beliefs, and projections are expressed in good faith, and we believe there is a reasonable basis for them. However, there can be no assurance that management’s expectations, beliefs, and projections will result or be achieved. The following factors are among those that may cause actual results to differ materially from the forward-looking statements: our operation in a highly competitive industry; our ability to retain our existing clients and attract new clients; our ability to successfully execute on our business strategies in order to grow; our ability to accurately assess the risks related to acquisitions and successfully integrate acquired businesses (including our proposed acquisition of Iodine); our ability to establish and maintain strategic relationships; the growth and success of our clients and overall healthcare transaction volumes; consolidation in the healthcare industry; our selling cycle of variable length to secure new client agreements; our implementation cycle that is dependent on our clients’ timing and resources; our dependence on our senior management team and certain key employees, and our ability to attract and retain highly skilled employees; the accuracy of the estimates and assumptions we use to determine the size of our total addressable market; our ability to develop and market new solutions, or enhance our existing solutions, to respond to technological changes, or evolving industry standards; the interoperability, connectivity, and integration of our solutions with our clients’ and their vendors’ networks and infrastructures; the performance and reliability of internet, mobile, and other infrastructure; the consequences if we cannot obtain, process, use, disclose, or distribute the highly regulated data we require to provide our solutions; our reliance on certain third-party vendors and providers; any errors or malfunctions in our products and solutions; failure by our clients to obtain proper permissions or provide us with accurate and appropriate information; the potential for embezzlement, identity theft, or other similar illegal behavior by our employees or vendors, and a failure of our employees or vendors to observe quality standards or adhere to environmental, social, and governance standards; our compliance with the applicable rules of the National Automated Clearing House Association and the applicable requirements of card networks; increases in card network fees and other changes to fee arrangements; the effect of payer and provider conduct which we cannot control; privacy concerns and security breaches or incidents relating to our platform; the complex and evolving laws and regulations regarding privacy, data protection, and cybersecurity; our ability to adequately protect and enforce our intellectual property rights; our ability to use or license data and integrate third-party technologies; our use of “open source” software; legal proceedings initiated by third parties alleging that we are infringing or otherwise violating their intellectual property rights; claims that our employees, consultants, or independent contractors have wrongfully used or disclosed confidential information of third parties; the heavily regulated industry in which we conduct business; the uncertain and evolving healthcare regulatory and political framework; health care laws and data privacy and security laws and regulations governing our processing of personal information; reduced revenues in response to changes to the healthcare regulatory landscape; legal, regulatory, and other proceedings that could result in adverse outcomes; consumer protection laws and regulations; contractual obligations requiring compliance with certain provisions of the Bank Secrecy Act and anti-money laundering laws and regulations; existing laws that regulate our ability to engage in certain marketing activities; our full compliance with website accessibility standards; any changes in our tax rates, the adoption of new tax legislation, or exposure to additional tax liabilities; limitations on our ability to use our net operating losses to offset future taxable income ; losses due to asset impairment charges; restrictive covenants in the agreements governing our credit facilities; interest rate fluctuations; unavailability of additional capital on acceptable terms or at all; the impact of general macroeconomic conditions; our history of net losses and our ability to achieve or maintain profitability; actions of certain of our significant investors, who may have different interests than the interests of other holders of our securities; and each of the other factors discussed under the heading of “Risk Factors” in the Company’s 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 18, 2025, and in other reports filed with the SEC, all of which are available on the Investor Relations page of our website at investors.waystar.com.

Any forward-looking statements made by us in this press release speak only as of the date of this press release and are expressly qualified in their entirety by the cautionary statements included in this press release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. You should not place undue reliance on our forward-looking statements. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as may be required by any applicable securities laws.

Waystar Media Contact

Kristin Lee
kristin.lee@waystar.com

Daniel Yunger / Nick Capuano / Mark Fallati
Kekst CNC
kekst-waystar@kekstcnc.com

Waystar Investor Contact

investors@waystar.com

Iodine Software Media Contact

Michelle White
mjwhite@iodinesoftware.com

Isabella Morreale
SolComms
isabella@solcomms.com

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KX Announces New Chapter of Growth with Strategic Acquisition by TA Associates

TA associates

New York & London — KX, a global leader in real-time, time-series and AI-driven analytics, today proudly announces a new chapter of growth and innovation through a strategic acquisition by TA Associates (“TA”), a leading global private equity firm. Under the agreement, TA has acquired a majority stake in FD Technologies, KX’s parent company, with existing shareholders retaining a minority interest.

After six years as a division of FD Technologies plc, KX will return to private ownership—a significant milestone in the company’s 30-year evolution. With TA’s backing, KX is poised to accelerate its momentum as the platform of choice for industries where real-time performance and AI-driven insight are mission-critical.

KX is purpose-built for the AI era, powering time-sensitive, data-intensive systems across capital markets, aerospace & defense, and high-tech manufacturing. Its platform enables organizations to process and analyze massive volumes of time-series and sensor data in real time, delivering trusted insights that drive automation, predictive modeling, and the foundation for vertical agentic AI systems that operate with context, precision and autonomy.

“Our customers require platforms that do more than store and query data—they need systems that fuel their AI initiatives, power automation, and unlock real-time value from complex environments,” said Ashok Reddy, CEO of KX. “KX is uniquely positioned to serve this demand across the world’s most dynamic industries. With TA’s partnership, we have the freedom and focus to go further, faster—investing deeply in our products, our team, and the outcomes we deliver for customers. This is also a platform for expansion, and together with TA, we intend to build a market leader in every vertical we serve.”

The acquisition enables KX to operate with greater agility and long-term focus, doubling down on its commitment to customers and innovation. It empowers KX to:

  • Accelerate innovation in real-time, AI-driven analytics to support mission-critical decisions
  • Expand platform capabilities to power vertical AI use cases
  • Invest in scalable infrastructure and top-tier technical talent
  • Deliver enduring value across industries by solving complex, high-impact problems

“With the acquisition now complete, we’re thrilled to officially begin our partnership with KX,” said Hythem El-Nazer, Co-Managing Partner of TA. “Having spent decades investing in and scaling enterprise software companies, we’ve seen how category-defining platforms can shape the future of technology. KX, trusted by some of the world’s most sophisticated organizations, stands out for its ability to process time-series and sensor data at speed and scale. As industries increasingly adopt AI-native, streaming-first architectures, we believe KX is well positioned to lead that evolution. We’re proud to partner with the entire KX team as they continue to advance the platform for the next generation of innovation.”

About KX
KX software powers real-time, time-series, and AI-driven analytics across capital markets, aerospace & defense, and high-tech manufacturing. Built for speed, precision, and scale, the KX platform enables organizations to extract actionable insights from streaming, sensor, and historical data to support critical use cases from predictive maintenance and operational automation to real-time simulation and vertical agentic AI. Trusted globally for its proven performance and reliability, KX delivers the data infrastructure enterprises need to thrive in an AI-driven world. www.KX.com

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Medartis acquires remaining 53% stake in KeriMedical

medartis logo

Basel, 17 July 2025: Following FDA approval of the KeriMedical TOUCH prosthesis on 10 July, the Medartis Group has decided to acquire the remaining 53% of the privately held company in accordance with the existing agreement. The transaction values the remaining shares at CHF 99 million in cash, with potential additional earn-out payments.

The partnership, which began in December 2020, provides Medartis access to an innovative hand portfolio whilst enhancing the company’s technological expertise in joint replacement and expanding its surgeon network. Medartis has steadily increased its ownership and now acquires full ownership of the Geneva-headquartered company with its two production facilities in France. The Group acts as distribution partner for KeriMedical in Germany, Austria, the UK, and, most recently, Australia, and has doubled its revenue every year during this period. Globally, KeriMedical has delivered average annual growth of nearly 30% over the past three years, achieving total sales of CHF 31 million in 2024. The transaction will immediately contribute positively to Medartis’ sales growth and core EBITDA margin. Closing is expected in August 2025, subject to customary closing conditions. Under the terms of the agreement, the remaining shares are valued at CHF 99 million in cash in addition to some milestone payments extending through 2027.

To maximise market potential, KeriMedical will continue operating as a distinct brand within the Medartis Group, maintaining dedicated teams for development, marketing, surgeon education, and manufacturing. Both co-founders, Dougal Bendjaballah and Bernard Prandi, will remain on the Board of KeriMedical and continue their full commitment and active involvement following the acquisition. Their entrepreneurial drive, clinical expertise and innovative vision have been fundamental to KeriMedical’s success. Medartis is pleased that they will continue to contribute their experience as the company expands into new markets and develops additional clinical solutions.

“This acquisition is a logical step in our five-year partnership, expanding our capabilities in our core hand & wrist indication. KeriMedical’s distinctive products have contributed to our strong performance in Germany, Austria and the United Kingdom, where we hold the exclusive distribution rights. They are the perfect addition to our comprehensive hand portfolio”, stated Matthias Schupp, CEO of Medartis, while also recognising the importance of preserving the expertise and entrepreneurial approach that has driven KeriMedical’s success, and which remains central to Medartis future development.

Dougal Bendjaballah and Bernard Prandi, co-founders of KeriMedical, commented: “We are pleased to reach this agreement with Medartis. Since founding the company, we have focused on creating innovative solutions for hand surgery based on scientific excellence and close collaboration with surgeons. In Medartis, we have found a partner whose approach to innovation, quality and medical education aligns perfectly with our vision. Our products still have plenty of potential in Europe, and entering the US and Australian markets will keep us on a strong growth path.”

In preparation for the controlled US market launch of the TOUCH thumb prosthesis in early 2026, the company has established a comprehensive surgeon training programme, designated reference centres, and selected key opinion leaders. The flagship TOUCH product, a CMC-1 prosthesis for thumb rhizarthrosis treatment, has established a strong market presence in EMEA over the past decade. The prosthesis features comprehensive clinical data support[1] and differentiates itself through dual mobility technology and various cup designs and materials, enhancing longevity and addressing requirements of patients with metal sensitivities.

The TOUCH prosthesis addresses a significant clinical need in hand surgery. The CMC-1 joint represents one of the hand joints most frequently affected by osteoarthritis, with radiographic evidence present in 20-30% of individuals over 40 years of age, increasing substantially with advancing age [2,3]. Between 2-16% of patients progress to symptomatic osteoarthritis [2,4], causing noticeable clinical symptoms that affect the patient’s daily life.

Medartis will publish its financial results for H1 2025 on 19 August 2025, and will provide further details on the market launch plan and the potential of KeriMedical at that time.

1 https://www.kerimedical.com/en/portail-kerimedical-en/home-professional/touch-scientific-publications-2/
2 Haugen IK, Englund M, Aliabadi P, et al. Prevalence, incidence and progression of hand osteoarthritis in the general population: the Framingham Osteoarthritis Study Ann Rheum Dis. 2011;70(9):1581-1586. doi:10.1136/ard.2011.150078
3 Wilder FV, Barrett JP, Farina EJ. Joint-specific prevalence of osteoarthritis of the hand. Osteoarthritis Cartilage. 2006;14(9):953-957,
4 Zhang Y, Niu J, Kelly-Hayes M, Chaisson CE, Aliabadi P, Felson DT. Prevalence of symptomatic hand osteoarthritis and its impact on functional status among the elderly: The Framingham Study. Am J Epidemiol. 2002;156(11):1021-1027. doi:10.1093/aje/kwf141

Contact

Medartis Corporate Communications
Fabian Hildbrand, Head of Corporate Communications, investor.relations@medartis.com
Andreas Richter, Corporate Communications Manager, corporate.communication@medartis.com
+41 61 633 37 36 / +41 61 633 37 34

About Medartis
Founded in 1997 and headquartered in Basel, Switzerland, Medartis is one of the world’s leading manufacturers and providers of medical devices for surgical fixation of bone fractures for upper and lower extremities as well as for the craniomaxillofacial region. Medartis employs approx. 1,200 individuals across its 13 locations, with products offered in over 50 countries globally. Medartis is committed to providing surgeons and operating theatre personnel with the most innovative titanium implants and instruments as well as best-in-class service. For more information, please visit www.medartis.com.

About KeriMedical
Founded in 2016, KeriMedical specialises in developing and marketing a comprehensive range of implants exclusively for hand & wrist surgery. The KeriMedical team possesses extensive experience in orthopaedic surgery with expertise across all operational areas: design, manufacturing, quality, marketing and product promotion. KeriMedical collaborates with a panel of surgeons who have recognised expertise in France and internationally. These specialists share their clinical and medical knowledge to support the development and validation of new solutions. The company is headquartered in Geneva, employs approx. 150 employees and its products are available in 30 countries. For further information, please visit www.kerimedical.com.

Disclaimer
This communication does not constitute an offer or invitation to subscribe for or purchase any securities of Medartis Holding AG. This publication may contain certain forward-looking statements and assessments, or intentions concerning the company and its business. Such statements involve certain risks, uncertainties and other factors which could cause the actual results, financial condition, performance, or achievements of the company to be materially different from those expressed or implied by such statements. Readers should therefore not place reliance on these statements, particularly in connection with any contract or investment decision. The company disclaims any obligation to update these forward-looking statements, assessments, or intentions. Furthermore, neither the company nor any of its directors, officers, employees, agents, counsel or advisers nor any other person makes any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein or of the views given or implied, and accordingly no reliance should be placed thereon.

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AARO Joins Forces with Aico & Mercur to Form Unified and Complete Financial Corporate Performance SaaS Platform; Michael Teixeira Named Group CEO

AKKR Logo

Accel-KKR, a global technology-focused investment firm, today announced the successful closing of AARO, a leading provider of Corporate Performance Management (CPM) solutions, and bringing together AARO with financial software providers, Aico and Mercur. This marks a significant milestone in the formation of a unified company focused on delivering the most comprehensive, unified SaaS platform for finance and performance management in EMEA for the Office of the CFO.

To lead this newly formed group, Accel-KKR has appointed Michael Teixeira as Group Chief Executive Officer. Michael brings extensive leadership experience in scaling high-growth technology companies and will guide the strategic vision and growth of the combined entity.

A Transformative Merger for Financial Leadership

The combined entity of AARO together with Aico and Mercur cements its category leadership in EMEA, bringing together deep expertise across the financial close, planning and reporting spectrum:

  • Aico: Automates and streamlines financial close processes.
  • Mercur: Powers xP&A, budgeting, forecasting, business intelligence and financial analytics.
  • AARO: Provides enterprise-grade consolidation and group reporting solutions.

Together, they create a powerful unified SaaS platform for finance and performance management that empowers finance and executive leaders with automation, compliance and actionable insights, supporting faster decision-making, enhanced governance and enterprise-wide visibility.

“This is more than a corporate merger; it’s a strategic unification. By bringing together AARO, Aico and Mercur, we’re creating a unified, integrated cloud solution that supports CFOs across the entire value chain; from Record to Report through Consolidation and Reporting to XP&A, Budgeting, Forecasting and Analysis and from local transaction-close to consolidated group-level reporting”, said Michael Teixeira, Group CEO​.

Market Reach and Customer Impact

Operating across the Nordics, UK, Ireland, BENELUX, DACH and Middle East & Africa, the combined company now powers finance operations for thousands of mid-market and enterprise customers with deep regional support and expertise.

Key benefits to customers will include:

  • A unified SaaS platform for the office of the CFO: A seamless cloud platform that supports the entire finance function across Record to Report which includes Consolidation and Reporting to XP&A, Budgeting, Forecasting and Reporting, from local transaction-close to consolidated group-level reporting.
  • Increased accuracy and efficiency: AI-powered automation reduces manual effort, minimises risk and improves data integrity across financial close, consolidation and reporting.
  • Unified user experience: An integrated platform that reduces system complexity and improves ease of use for finance teams.
  • Ongoing innovation: Enhanced capabilities driven by the combined expertise of global product and engineering teams focused on solving challenges for the Office of the CFO.
  • Future-ready scalability: A robust, modular solution that grows with the organisation’s needs, whether expanding across entities, geographies or compliance regimes.
  • Configurability: SaaS software that is highly adaptable to enterprise clients’ complex environments, thereby removing the barrier to integrate with core systems, improving efficiency and reducing data silos.

Strategic Backing and Regional Scale

The merger follows Accel-KKR’s investment in Aico and Mercur, and now the acquisition of AARO, reinforcing the firm’s long-term commitment to building a category-leading financial cloud software suite.

“This is more than a corporate merger; it’s a strategic unification. By bringing together AARO, Aico and Mercur, we’re creating a unified, integrated cloud solution that supports CFOs across the entire value chain; from Record to Report through Consolidation and Reporting to XP&A, Budgeting, Forecasting and Analysis and from local transaction-close to consolidated group-level reporting”, said Maurice Hernandez, Group CEO​.

About AARO

AARO provides Corporate Performance Management (CPM) software for group accounting, consolidation and financial reporting. Used by multinational companies, it supports IFRS and local GAAP standards. Finance teams rely on AARO to streamline complex reporting processes with precision and efficiency. The company was founded in 1989 and has employees in Sweden, Latvia, Kenya, the United Arab Emirates, UK, and Finland. Learn more at www.aaro.com

About Aico Group

Aico is a financial close automation platform for mid-sized and enterprise companies. It enables faster, more accurate month-end reporting while ensuring compliance. Founded in 2019 in Finland, Aico serves leading European companies from offices in Finland, Germany, the UK and Latvia. Learn more at www.aico.ai

About Mercur Solutions

Mercur Solutions provides Corporate Performance Management (CPM) software for budgeting, planning, forecasting and reporting. Its cloud-based platform, Mercur Business Control, empowers organisations with automation and insights. Headquartered in Sweden with a UK office, Mercur has supported financial leaders for 50 years. Learn more at www.mercur.com

About Accel-KKR

Accel-KKR is a technology-focused investment firm with $23 billion in capital commitments. It partners with software and tech-enabled businesses to drive growth and value. Based in Menlo Park, with global offices, Accel-KKR invests across buyouts, minority stakes, carve-outs, and credit. Learn more at www.accel-kkr.com

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3i-backed EC Waste acquires ARB waste services in Puerto Rico

3I

EC Waste 6

3i Group plc (“3i”) today announces that EC Waste, the leading vertically integrated provider of solid-waste services in Puerto Rico, has acquired ARB Inc. (“Andrés Reyes Burgos” or “ARB”), a specialised local provider of bespoke waste collection and environmental-management services.

The transaction marks a significant milestone for EC Waste as it continues to build scale and strengthen its capabilities in Puerto Rico. ARB enhances EC Waste’s technical capabilities, expands its geographic footprint and supports the acceleration of its digitalisation and sustainability agenda.

The acquisition expands EC Waste’s offering by integrating ARB’s operations across residential, commercial, and industrial non-hazardous solid waste services. The combined business will expand geographic coverage in traditionally underserved areas in Puerto Rico using real- time monitoring, intelligent-routing systems and web and mobile applications to enhance customer service.

Furthermore, operations will benefit from EC Waste’s comprehensive disposal network, providing Small and Medium Enterprises with more economical waste-management solutions while enhancing environmental compliance and improving public health in Puerto Rico.

Rob Collins, Managing Partner and Head of North American Infrastructure, 3i, commented:

“We are very pleased to continue to invest in the environmental-services sector in Puerto Rico. We believe this acquisition will continue EC Waste’s excellent performance in serving both businesses on the island and the public.”

Mark Johnson, CEO, EC Waste, commented:

“This integration strengthens our operational capacity, expands our coverage and allows EC Waste the opportunity to offer more efficient and technological services to all of Puerto Rico. Our commitment to the island, to innovation and to environmental stewardship remains at the heart of our strategy.”

Siria Reyes, CEO of ARB, commented:

“We have found in EC Waste an ally with vision. Together, we can scale our solutions and impact more communities, faster.”

This is the third acquisition for EC Waste since 3i’s investment in 2021, following the acquisitions of Ecosystems (2023) and AA Waste (2022). The company’s acquisition history is consistent with its strategy to provide superior, environmentally sustainable services to its customers as Puerto Rico’s largest owner and operator of US EPA-permitted, waste-disposal sites.

With 3i’s support, EC Waste has achieved meaningful growth across its residential, commercial, and industrial segments. The company has also expanded its infrastructure, adding a fifth landfill through acquisition and increasing its number of transfer stations from two to four. EC Waste is investing in fleet modernisation to drive operational efficiency and is advancing its sustainability initiatives, including expanded recycling programmes and renewable natural gas collection. 3i remains committed to backing the company’s long-term growth and continues to see further consolidation opportunities.

 

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For further information, contact:

Silvia Santoro
Investor enquiries

Kathryn van der Kroft
Media enquiriesTel: +44 20 7975 3258
Email: silvia.santoro@3i.com

Tel: +44 20 7975 3021
Email: kathryn.vanderkroft@3i.com

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Bure completes acquisition of Silex Microsystems – a Swedish world-leading semiconductor company

Bure
Regulatory

Bure announces today that it has completed the acquisition of 17.0 percent of the shares in the Swedish semiconductor company Silex Microsystems (“Silex” or “the Company”), as previously disclosed on June 13, 2025. The transaction has now been finalized following the fulfillment of all closing conditions. The acquisition is being carried out together with a consortium (the “Consortium”) of long-term Swedish investors led by Bure and Creades, which collectively acquires 48.2 percent of the shares in the Company. The Consortium, along with the Company’s management and founders, becomes the new majority owner of Silex, thereby regaining Swedish majority ownership of the Company.

Other members of the Consortium include Grenspecialisten, 3S Invest, SEB-Stiftelsen, and TomEnterprise. Together with the Company’s founder and CEO Edvard Kälvesten and the management team, whose combined ownership amounts to 6.5 percent, the Consortium will thereby control 54.8 percent of the Company.

In connection with the change in ownership, Patrik Tigerschiöld will assume the role of Chairman of the Board of the Company.

Henrik Blomquist, CEO of Bure, comments: “We are pleased that the transaction has now been completed and look forward to beginning our long-term commitment to Silex together with the Company’s management. The Company holds an impressive global market position in a rapidly growing technology segment, and we are excited to contribute to its continued expansion.”

In connection with the transaction, the Consortium has engaged SEB Corporate Finance, law firm Cederquist, and EY-Parthenon as advisors on financial, legal, and tax matters.

For further information, please contact:
Henrik Blomquist, CEO
Phone: +46 8 614 00 20

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Ardian and Rockfield strengthen European PBSA Strategy with a new acquisition in Terrassa (Barcelona) from ACCIONA

Ardian

The PBSA asset comprises a seven-floor building located on the former AEG factory in Terrassa
● It comprises 12,700 sqm, with 358 rooms with capacity for 369 beds, and indoor and outdoor amenities totaling more than 2,600 sqm
● This deal marks the second acquisition in Spain and the seventh closed by Ardian and Rockfield in just eight months since the launch of their European PBSA strategy

Ardian, a world-leading private investment firm, and Rockfield Real Estate, a vertically integrated living platform, consolidate their position in the student living sector with a new investment, a 369-bed student accommodation asset located in Terrassa (Barcelona). This marks the second deal in Spain, after the acquisition of Cristóbal de Moura 196 in Barcelona, and the seventh deal closed by Ardian and Rockfield in just eight months since the launch of their pan-European Purpose-Built Student Accommodation (PBSA) strategy.

The asset comprises a seven-floor building located on the site of the former AEG factory in Terrasa, Avinguda Jaume I, 60, acquired from ACCIONA Living & Culture. With its extensive experience in residential development, ACCIONA has transformed the site into a masterplan that will feature residential, tertiary uses, green spaces and over 3.500 sqm of retail.

The recently completed asset, which includes 358 rooms and almost 3,000 sqm of indoor and outdoor amenities, will be a reference in the city for university housing.

Located in close proximity to the main university centers and the Nord train station, the asset provides excellent connectivity to the city center and Barcelona. The property has been designed to offer a sustainable, modern living environment, with spacious, fully furnished rooms, gym, canteen, swimming pool and large gardens and green areas.

“Spain presents a highly attractive student-to-bed ratio, reflecting strong demand and limited supply. In Terrassa, there are currently just 315 beds available for an estimated demand of 2,200. Existing options are outdated and lack the premium services students increasingly expect. This asset represents a unique opportunity to enter the PBSA market in Catalonia’s second most important university city, in a prime location. It fully aligns with our investment strategy, meeting top international standards of quality and sustainability.” Edmund Eggins, Managing Director, Real Estate, Ardian

“This acquisition perfectly fits our strategy of targeting acquisitions and forward-funding opportunities of best-in-class PBSA schemes. This investment represents a strategic step in our long-term European vision dedicated to Purpose-Built Student Accommodation, a rapidly growing sector that is increasingly central to urban transformation.” Juan Manuel Acosta, CIO Rockfield Real Estate

ABOUT ARDIAN

Ardian is a world-leading private investment firm, managing or advising $180bn of assets on behalf of more than 1,850 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’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 19 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 ROCKFIELD REAL ESTATE

Rockfield was established in 2014 with a clear mission to create high quality and sustainable housing solutions for students, young professionals and families in urban areas. Our founders recognized the growing demand for affordable housing in major cities, coupled with an increasing need for innovative living concepts that not only provide a place to live but also enable residents to grow and thrive within a community.
With this vision in mind, Rockfield started a journey to build a fully integrated real estate company. From the start, we chose to keep all aspects of real estate management in-house, from project development and acquisition to investment and property management. This approach has allowed us to offer tailored solutions that meet needs of both investors and tenants.
Since our inception, we have experienced impressive growth and evolved into a leading investment manager with a portfolio of over €2 billion in assets under management and around 8,000 housing units across various European cities.

rockfield.nl

ABOUT ACCIONA LIVING & CULTURE

ACCIONA Living & Culture is a global company that combines innovative urbanism and culture to develop sustainable projects around the world. With more than 30 years of experience and presence in over 40 countries, the company has created responsible urban solutions that include residential complexes, iconic offices, interior design projects and logistics spaces, as well as museums, exhibitions, immersive experiences and sports and entertainment events. Notable cultural projects developed by ACCIONA Living & Culture include the Grand Egyptian Museum, the House of European History Museum in Brussels and the Qatar Olympic & Sports Museum. In the residential sector, it has developed more than 13,000 homes in Spain, Mexico, Poland, Portugal and Brazil, as well as offices and major logistics projects.
ACCIONA is a global company and a leader in the provision of regenerative solutions for a decarbonized economy. Its business offer includes renewable energy, water treatment and management, eco-efficient transportation and mobility systems, resilient infrastructures, etc. The company has been carbon neutral since 2016. ACCIONA recorded sales of €17 billion in 2023 and has a business presence in more than 40 countries.

acciona.com

Press contact

Ardian

LLYC

ardian@llyc.global 

Press contact

ROCKFIELD REAL ESTATE

Sander van Essen

Sander.van.essen@rockfield.nl 

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Concord Closes $1.765 Billion ABS to Fuel Continued Growth

Apollo logo
Transaction Features First of its Kind 10-Year Tranche, Demonstrating Continued Innovation in Music Securitization

NASHVILLE AND NEW YORK – July 22, 2025 – Concord, the world’s leading independent music company, has successfully issued $1.765 billion in a series of new five-year, seven-year, and ten-year senior notes. The ten-year tranche was privately placed and represents the longest duration ABS issuance at scale in the music sector. The notes are secured by Concord’s catalog of over 1.3 million music copyrights, featuring the songs and recordings of marquee artists such as The Beatles, Beyonce, Bruno Mars, Carrie Underwood, Creedence Clearwater Revival, Daddy Yankee, Ed Sheeran, Genesis, Imagine Dragons, John Fogerty, Kiss, Michael Jackson, Otis Redding, Phil Collins, Pink Floyd, R.E.M., Rihanna, Rodgers & Hammerstein, Taylor Swift, and The Rolling Stones. The latest issuance represents Concord’s fourth securitization offering and the largest and longest tenured asset-backed term securitization of music rights to date.

Concord’s securitization catalog is valued at more than $5.1 billion and the notes were rated A+ by KBRA and A2 by Moody’s. Apollo (NYSE: APO), through its Capital Solutions business and affiliates ATLAS SP Partners and Redding Ridge Asset Management, structured the ABS transaction and formed an investor syndicate led by Apollo-managed funds and affiliates. Proceeds from the issuance will be used to repay the company’s $1.65 billion 2022-1 note series and refinance and extend its $100 million variable funding note. The transaction was more than three times oversubscribed, reflecting robust investor demand underpinning Concord’s ABS strategy.

“As Concord continues to grow both our catalog and frontline roster, ensuring long-term access to institutional capital and continuing to build upon our strong financial foundation are crucial. ABS transactions like the one we just closed will remain a vital part of our growth strategy, allowing us to continue to lower our cost of capital while expanding our global capabilities in support of the artists and songwriters we serve,” said Bob Valentine, CEO of Concord. “I am incredibly grateful to the Apollo team, who continue to provide customized solutions so that Concord can live out its mission to elevate the voices of artists around the world.”

“We are pleased to structure and lead this landmark ABS transaction for Concord, which represents a continuation of our long-term financing partnership and demonstrates Concord’s innovative approach to music securitization through the issuance of the industry’s first 10-year tranche,” said Apollo Partner Michael Paniwozik. “We continue to be impressed by the quality and breadth of the actively managed catalog that Concord has built and look forward to supporting its journey for years to come.”

“It has been immensely rewarding to support Concord’s continued evolution leveraging the ABS structure that we established in 2022,” said Apollo Managing Director Paul Sipio. “Since that time, Bob and team have made tremendous progress advancing the company’s growth strategy through several additive acquisitions. We believe the four transactions that we’ve executed with Concord to date reflect the differentiated nature of Apollo’s integrated platform, bringing together combined capabilities of Apollo, ATLAS SP, and Redding Ridge to provide tailored structured solutions.”

Apollo Global Securities, LLC and ATLAS SP Securities acted as joint bookrunners for the transaction, Redding Ridge Asset Management served as structuring agent, with the Bank of New York Mellon acting as trustee. Virtu Global Advisors, LLC provided valuation services, while DLA Piper provided legal counsel for Concord and Milbank LLP for Apollo affiliates.

CONCORD is the world’s leading independent music company. The Company supports more than 125,000 artists and songwriters whose works are licensed, marketed, and performed globally. Concord’s growing catalog of 1.3 million songs, compositions, sound recordings, films, plays, and musicals is one of the most impactful and culturally relevant collections of creative rights in history. Concord is headquartered in Nashville with offices in Los Angeles, New York, London, Berlin, Melbourne, and Miami.

Supporting Concord and its predecessor companies since 2006, GREAT MOUNTAIN PARTNERS (“GMP”) is a New Haven, CT based asset manager with more than $10BN AUM, founded by Alex Thomson and Jon Rotolo. GMP’s team are longtime investors in the media and entertainment industry with experience across music, film and TV, live events and other IP based assets. GMP brings a long-term and solutions-oriented mindset to partnering with institutional investors and portfolio company leadership.

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CoSolvia becomes part of the Vivecti Group, backed by Nordic Capital

Nordic Capital

CoSolvia will be the tenth company to join the Vivecti Group, thus extending the range of expertise of the market-leading performance partner for healthcare providers in the fields of medical and operational technology.

As a specialized service provider for the optimization of hospital equipment, CoSolvia brings new expertise to the Group. For the Vivecti Group, this is a further logical step in the execution of its vision to comprehensively and sustainably increase the efficiency, cost-effectiveness and quality of healthcare providers.

“Over the last two decades, CoSolvia has built an excellent reputation and we are delighted to welcome CoSolvia to the Vivecti Group. With this acquisition, we will expand our portfolio with comprehensive optimization and support services for the procurement and operation of medical and operational technology,” explains Dr. Benjamin I. Behar, CEO of the Vivecti Group.

CoSolvia: A strong partner for efficiency and cost optimization

CoSolvia is a leading provider of modular services for hospitals in the fields of medical and operational technology. With intelligent and specialized approaches, the company supports hospitals in reducing costs and optimizing processes – by optimizing the device inventory and maintenance and service costs or through investment planning aligned with a clinic’s operational needs. Hence, CoSolvia’s expertise contributes directly to increasing the efficiency and competitiveness of healthcare providers.

Stronger together: future synergies

The acquisition of CoSolvia marks the next step in the long-standing, trusting cooperation between the two companies. The Vivecti subsidiary Prospitalia and CoSolvia are already cooperating successfully in the field of medical technology procurement and have created significant value for a wide range of customers. WMC has also been able to draw on CoSolvia’s expertise in selected consulting projects in the past.

“We are very proud to have CoSolvia joining Vivecti, as their expertise and range of services have already impressed us in the past,” Dr. Behar continues. “In addition, we complement each other perfectly.”

A view that Christian Somberg shares. As Managing Director of CoSolvia, he will continue to run the company together with Cord Brüning under the umbrella of the Vivecti Group. “Together, we will be able to offer hospitals even more comprehensive and effective solutions – a real win-win situation for our customers and the entire healthcare sector.”

Somberg and Brüning can both draw on many years of experience in the German healthcare sector. Christian Somberg worked for many years at Dräger, a leading international company for medical and safety technology, before becoming Managing Director of HERMED Technische Beratungs GmbH, a Fresenius subsidiary. Cord Brüning founded CoSolvia more than twenty years ago as a subsidiary of EADS in order to focus on services and consulting for technical operations in hospitals. In addition, he volunteers as chairman of the Wissenschaftliche Gesellschaft für Krankenhaustechnik e.V. (Scientific Society for Hospital Technology) to transfer know-how and promote young talent.

“The Vivecti Group is the partner of choice for us. My team and I have already enjoyed working with Vivecti to date and have shown that together we will be able to even better address our customers‘ challenges and achieve an even greater impact,” says Brüning, explaining this strategic move.

The Vivecti Group: a visionary in the healthcare industry

The Vivecti Group is known for its excellent services and innovative, technology-based solutions in the healthcare industry. With a holistic offering that focuses on the optimization and digitalization of processes ranging from procurement services and software to clinic management and specialized consulting services, the Vivecti Group currently helps more than 4,500 healthcare facilities to work more efficiently, sustainably and economically in challenging times.

With the integration of CoSolvia, the Vivecti Group is taking the next step in its mission to elevate healthcare providers’ performance to a new level through holistic approaches, innovation and partnership.

“This strategic acquisition is a win-win situation for everyone involved: our customers benefit from an even broader and more efficient range of services, and we can strengthen our contribution to a sustainable healthcare system,” summarizes Dr. Behar.

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