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

Carlyle

Partnership will support expansion into new markets and broaden supplier relationships

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

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

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

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

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

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

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Contact:

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

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

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

About Carlyle Sub-Sahara Africa Fund (CSSAF)

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

About AK Life Sciences (Abacus)

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

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The Carlyle Group to become majority investor in Sedgwick in $6.7 billion transaction

KKR

Investment will foster continued growth of global claims management provider

MEMPHIS, Tenn. and NEW YORK, Sept. 12, 2018 /PRNewswire/ — Sedgwick, a global provider of technology-enabled risk, benefits and integrated business solutions, announced today that affiliates of funds managed by The Carlyle Group (NASDAQ : CG  ) have agreed to become the majority owner of Sedgwick in a transaction valued at approximately $6.7 billion. Current majority shareholder KKR will fully exit its position following the transaction. Funds managed by Stone Point Capital LLC and Caisse de dépôt et placement du Québec (CDPQ), together with Sedgwick management, will remain minority investors.

“At Sedgwick, taking care of people is at the heart of everything we do, and I am proud that The Carlyle Group appreciates the value our colleagues create when they put our caring counts® philosophy into practice,” said Dave North, president and CEO of Sedgwick. “We are humbled by the confidence they have shown in our business model, and we look forward to partnering with Carlyle on developing and delivering innovative solutions for our clients around the world. We are grateful for the strong and value-added partnership with KKR over the last handful of years.”

On an annual basis, Sedgwick handles more than 3.6 million claims and has fiduciary responsibility for claim payments totaling more than $19.5 billion.

Stephen H. Wise, Managing Director and Global Head of Healthcare for The Carlyle Group, said, “Dave North and Sedgwick’s world-class management team have built the company into an industry leader over the last two decades. We are excited to collaborate with Sedgwick, which has distinguished itself by constantly improving the claims management and loss adjusting process to the benefit of all key stakeholders, including its colleagues, customers, insurance companies and brokers.”

“We are pleased to partner with the exceptional management team and highly talented colleagues of Sedgwick. We look forward to participating in Sedgwick’s next chapter of growth and innovation and working with the company as it builds out its global platform to meet the increasingly complex needs of its clients around the world, while leveraging the One Carlyle network,” said John C. Redett, Carlyle Managing Director and Co-head of Global Financial Services.

“We have greatly valued our partnership with Sedgwick and its exceptional management team,” said Tagar Olson, director of Sedgwick, Member of KKR, and head of KKR’s financial services investing efforts. “We look forward to watching the company’s continued success in delivering high quality technology-driven insurance solutions to clients and consumers around the globe.”

The parties are working to close the deal later this year, subject to customary closing conditions, including regulatory approvals.

Equity capital for the investment will come from Carlyle Partners VII, an $18.5 billion fund that focuses on buyout transactions in the U.S., and Carlyle Global Financial Services Partners III, L.P., a dedicated financial services buyout fund.

BofA Merrill Lynch served as financial advisor to Sedgwick, and Simpson Thacher & Bartlett LLP served as legal advisor. BofA Merrill Lynch, Morgan Stanley and KKR Capital Markets are expected to provide debt financing for the transaction. Morgan Stanley and Sandler O’Neill + Partners, L.P. served as financial advisors to Carlyle, and Wachtell, Lipton, Rosen & Katz served as legal advisor.

About Sedgwick 

Sedgwick is a leading global provider of technology-enabled risk, benefits and integrated business solutions. The company provides a broad range of resources tailored to clients’ specific needs in casualty, property, marine, benefits and other lines. At Sedgwick, caring counts®; through the dedication and expertise of more than 21,000 colleagues across 65 countries, the company takes care of people and organizations by mitigating and reducing risks and losses, promoting health and productivity, protecting brand reputations, and containing costs that can impact the bottom line. For more, see sedgwick.com.

About The Carlyle Group

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

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Ratos divests its shares in Gudrun Sjödén Group

Ratos

 

Ratos has signed an agreement to sell all of its shares, corresponding to a holding of 30%, in the associated company Gudrun Sjödén Group to the company’s founder and CEO Gudrun Sjödén. In conjunction with the transaction, Gudrun Sjödén will resume full ownership of the company. Ratos will receive a consideration of approximately SEK 225m for its shares.

Gudrun Sjödén Group, an international design company with a unique, colourful design and a clear sustainability profile, was founded in 1976 by Gudrun Sjödén. Gudrun still runs the company as an active owner, CEO and Creative Director.

“After two years partnership, Ratos and Gudrun Sjödén have agreed that the company will be wholly owned by Gudrun going forward. We are convinced that the company will continue to perform well under an ownership led by Gudrun, CEO, owner and founder. By selling our shares, Ratos ends a good investment and continue the work of developing our portfolio,” says Jonas Wiström, CEO of Ratos.

“Our partnership with Ratos over the past two years has also been a learning experience for Gudrun Sjödén Group. I remain highly committed to the active ownership and development of the company, which is why I have chosen to reinvest in the company and continue our growth toward becoming a more global and digital Gudrun Sjödén Group,” says CEO and owner Gudrun Sjödén.

Ratos has been a part-owner of Gudrun Sjödén Group since September 2016. During Ratos’s holding period, the company has displayed a positive earnings trend and developed as a brand through investments in its organisation, digitalisation and increased customer value. An agreement has now been signed to sell all of Ratos’s shares. Ratos will receive a consideration of approximately SEK 225m for its shares. The total investment in the company amounts to SEK 160m for a 30% holding.

The divestment is expected to generate a positive exit gain of approximately SEK 30m and is scheduled to be completed in the third quarter of 2018.

For further information, please contact:
Jonas Wiström, CEO, Ratos, +46 8 700 17 00

Anders Slettengren, Vice President, Ratos, +46 72 589 89 00

Helene Gustafsson, Head of IR and Press, Ratos, +46 70 868 40 50

Financial calendar from Ratos:

Interim report January-September 2018        25 October 2018

Year-end report 2018                                     15 February 2019

Ratos is an investment company that owns and develops unlisted medium-sized companies in the Nordic countries. Our goal as an active owner is to contribute to long-term and sustainable business development in the companies we invest in and to make value-generating transactions. Ratos’s portfolio consists of 13 medium-sized Nordic companies, with the largest segments in terms of sales being Industrials, Construction and Consumer goods/Commerce. Ratos is listed on Nasdaq Stockholm and has a total of approximately 12,700 employees.

 

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The Carlyle Group to become majority investor in Sedgwick in $6.7 billion transaction

KKR

Investment will foster continued growth of global claims management provider

MEMPHIS, Tenn. and NEW YORK, Sept. 12, 2018 /PRNewswire/ — Sedgwick, a global provider of technology-enabled risk, benefits and integrated business solutions, announced today that affiliates of funds managed by The Carlyle Group (NASDAQ : CG  ) have agreed to become the majority owner of Sedgwick in a transaction valued at approximately $6.7 billion. Current majority shareholder KKR will fully exit its position following the transaction. Funds managed by Stone Point Capital LLC and Caisse de dépôt et placement du Québec (CDPQ), together with Sedgwick management, will remain minority investors.

“At Sedgwick, taking care of people is at the heart of everything we do, and I am proud that The Carlyle Group appreciates the value our colleagues create when they put our caring counts® philosophy into practice,” said Dave North, president and CEO of Sedgwick. “We are humbled by the confidence they have shown in our business model, and we look forward to partnering with Carlyle on developing and delivering innovative solutions for our clients around the world. We are grateful for the strong and value-added partnership with KKR over the last handful of years.”

On an annual basis, Sedgwick handles more than 3.6 million claims and has fiduciary responsibility for claim payments totaling more than $19.5 billion.

Stephen H. Wise, Managing Director and Global Head of Healthcare for The Carlyle Group, said, “Dave North and Sedgwick’s world-class management team have built the company into an industry leader over the last two decades. We are excited to collaborate with Sedgwick, which has distinguished itself by constantly improving the claims management and loss adjusting process to the benefit of all key stakeholders, including its colleagues, customers, insurance companies and brokers.”

“We are pleased to partner with the exceptional management team and highly talented colleagues of Sedgwick. We look forward to participating in Sedgwick’s next chapter of growth and innovation and working with the company as it builds out its global platform to meet the increasingly complex needs of its clients around the world, while leveraging the One Carlyle network,” said John C. Redett, Carlyle Managing Director and Co-head of Global Financial Services.

“We have greatly valued our partnership with Sedgwick and its exceptional management team,” said Tagar Olson, director of Sedgwick, Member of KKR, and head of KKR’s financial services investing efforts. “We look forward to watching the company’s continued success in delivering high quality technology-driven insurance solutions to clients and consumers around the globe.”

The parties are working to close the deal later this year, subject to customary closing conditions, including regulatory approvals.

Equity capital for the investment will come from Carlyle Partners VII, an $18.5 billion fund that focuses on buyout transactions in the U.S., and Carlyle Global Financial Services Partners III, L.P., a dedicated financial services buyout fund.

BofA Merrill Lynch served as financial advisor to Sedgwick, and Simpson Thacher & Bartlett LLP served as legal advisor. BofA Merrill Lynch, Morgan Stanley and KKR Capital Markets are expected to provide debt financing for the transaction. Morgan Stanley and Sandler O’Neill + Partners, L.P. served as financial advisors to Carlyle, and Wachtell, Lipton, Rosen & Katz served as legal advisor.

About Sedgwick 

Sedgwick is a leading global provider of technology-enabled risk, benefits and integrated business solutions. The company provides a broad range of resources tailored to clients’ specific needs in casualty, property, marine, benefits and other lines. At Sedgwick, caring counts®; through the dedication and expertise of more than 21,000 colleagues across 65 countries, the company takes care of people and organizations by mitigating and reducing risks and losses, promoting health and productivity, protecting brand reputations, and containing costs that can impact the bottom line. For more, see sedgwick.com.

About The Carlyle Group

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

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Scanship signs contract with Atlantic Sapphire

 

Reiten

Scanship has signed a contract with Billund Aquakulturservice for the delivery of a sludge handling system to Atlantic Sapphire – the world’s largest onshore salmon fishfarm based in Miami. Atlantic Sapphire’s facility will be built in several steps and the Scanship contract includes supplying its “environmental protection and circular economy” technology for the first step.

Atlantic Sapphire’s facility will be the worlds largest with an annual production capacity of 90.000 tonn when completed.

“With this milestone contract, we are now in all three segments of a growing aquaculture market for smolt, seabased closed cage and landbased farms”, says CEO in Scanship Henrik Badin.

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ARDIAN Real Estate acquires office complex in Berlin’s City West

Ardian

Eighth investment by Ardian Real Estate continues investment strategy with focus on key cities in Germany, France and Italy

Frankfurt am Main/Berlin, September 11 2018 – Ardian, a world-leading private investment house, has signed an agreement with Conren Land AG to acquire an office complex at Spichernstrasse 2-3 in the City West district of Berlin.

Located in the heart of Berlin, the property has around 12,600 square metres of rental space. The acquisition represents the third transaction by the Ardian Real Estate Europe Fund (AREEF) in Germany and the eighth overall. The fund has assets under management of more than €700 million.

Continuously maintained since it was built in 1993, the complex fulfils modern office standards. Furthermore, it is situated in an attractive location south of the prime City West area – Berlin’s premier office district. The complex is in the direct vicinity of two major shopping streets, Kurfürstendamm and Tauentzienstrasse, and the KaDeWe department store. Located beside the Spichernstrasse underground station, the property has excellent connections to local public transport. The eight-storey building, which has an impressive roof terrace, has a maximum rental area of 1,750 square metres per floor. Each floor can be divided into three separate rental units with a minimum size of 380 square metres, allowing the space to be used efficiently and flexibly. A two-storey underground car park with 80 parking spaces is also part of the property. The building is fully let to eight companies at present. No financial details of the transaction are to be disclosed.

Bernd Haggenmüller, Managing Director, Ardian Real Estate said: “As one of the leading cultural, political and business centres in Europe, Berlin is well known for its dynamic innovation and start-up scene. City West is an attractive office location in Berlin, characterised by high demand for office space and low vacancy rates. We see considerable potential for both rental income and value growth in the core-plus property that we have now acquired in Spichernstrasse, which we intend to realise using our asset management expertise. It fits perfectly into the AREEF investment strategy, in which we acquire and develop attractive core-plus and value-add properties in key European cities.”

Other investments made so far by Ardian Real Estate include the Konrad office complex, the Heinemann Bogen office complex (both located in Munich), four office buildings in Paris and an Italian portfolio with office properties in Milan and Rome. AREEF focuses on transactions with a volume between €50 million and €150 million.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$71bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.

Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 530 employees working from fourteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo). It manages funds on behalf of around 700 clients through five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

Follow Ardian on Twitter @Ardian

www.ardian.com

LIST OF PARTIES INVOLVED

Herbert Smith Freehills, CBRE PREUSS VALTEQ, taxess, Pinsent Masons and BFIN acted in an advisory capacity during the transaction.

PRESS CONTACTS

ARDIAN
Headland
Carl Leijonhufvud
cleijonhufvud@headlandconsultancy.com
Tel: +44 020 3805 4827

Categories: News

Funds advised by Apax Partners invest in Paycor

Apax

Cincinnati and New York, September 11, 2018 – Funds advised by Apax Partners announced they have agreed to invest in Human Capital Management company Paycor. Paycor provides HR, payroll, time, recruiting, benefit administration and other services to over 38,000 medium and small-sized companies. Paycor is committed to building great software and delivering differentiated, personal client experiences.

The company has achieved 18 consecutive years of growth, recruited industry veterans to its executive team and increased headcount for proactive customer success management. At the helm is Founder and CEO, Bob Coughlin, who will continue to lead the company.

“Paycor is built on relationships – first and foremost with our customers, but also with partners, associates, investors and the community at large. Since 1990, we have dedicated ourselves to furthering these relationships, and today we are positioned better than ever to continue that mission,” said Bob Coughlin, CEO and Founder of Paycor. “We are proud to be partnering with Apax who is aligned with our strategic growth plans, shares our dedication to exceptional client service and whose expertise in software will support our SaaS HCM platform.”

Jason Wright, Partner at Apax Partners, said: “We have been tracking the payroll and HCM software market for some time due to its size and healthy growth rate. Paycor stood out for the breadth of its product offering, track record of organic growth, and customer-centric approach.

“We look forward to working with Bob and his team to continue to grow the business through investment in product development and geographic expansion.”

Funds advised by Apax Partners invest in Paycor

About Paycor

Paycor is a trusted partner to more than 38,000 medium and small-sized businesses. Known for delivering modern, intuitive recruiting, HR and payroll solutions, Paycor partners with businesses to optimize the management of their most valuable asset — their people. Paycor’s personalized support and user-friendly technology ensure that key business processes, including recruiting, onboarding, reporting, timekeeping, compliance and payroll, run smoothly. Paycor’s people operations solutions are recommended by today’s most innovative brokers, bankers, and CPAs. Learn how Paycor can transform your business by starting a conversation at http://www.paycor.com.

About Apax Partners  

Apax Partners is a leading global private equity advisory firm. Over its more than 35-year history, Apax Partners has raised and advised funds with aggregate commitments of over $50 billion. The Apax Funds invest in companies across four global sectors of Tech & Telco, Services, Healthcare and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For more information see: www.apax.com.

Media Contacts

For Paycor:

Tanaya Lukaszewski | +1 916-712-3791 | tanaya@offleashpr.com

For Apax Partners:

Global Media: Andrew Kenny, Apax | +44 20 7 872 6371 | andrew.kenny@apax.com

USA Media: Todd Fogarty, Aduke Thelwell, Kekst | +1 212-521 4800 | apax@kekst.com

UK Media: Matthew Goodman / James Madsen, Greenbrook | +44 20 7952 2000 |

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SOVEREIGN backs the MBO of financial data management business, ASSET CONTROL

Sovereign Capital Partners, the UK private equity Buy & Build specialist, is delighted to announce the management buy-out of Asset Control, a global provider of financial data management software to banks and other financial institutions. The business is headquartered in London and has offices in the US, Singapore and the Netherlands.

The investment comes as several trends have combined: regulatory and business demands for superior information provision, a greater reliance and need for specialist technology provision and an environment where clients are increasing their need for data to unlock more business value. Asset Control, with a blue-chip client base, is well-positioned to benefit.

Sovereign will leverage its experience in the financial services and technology sectors to support Asset Control’s continued momentum during its next phase of growth. This includes the recent investment in Arachas Corporate Brokers, a leading commercial lines insurance brokerage. Sovereign will support the existing management team, led by Chief Executive, Mark Hepsworth, who was appointed in August 2016. He will be joined by Brian Traquair, former President of Capital Markets at SunGard Data Systems, who is to become Chairman.

We are delighted to be backed by Sovereign. This transaction will benefit our clients, who can expect accelerated investment in product development to further enhance their data management capabilities. Asset Control has grown rapidly in recent years and we look forward to continued successes with Sovereign in launching new products and winning new clients.

Mark Hepsworth, Chief Executive, Asset Control

We are very excited to support Mark and the team. The global marketplace for data management systems is growing rapidly and Asset Control is uniquely positioned to capitalize on this opportunity in the financial services market. Asset Control stands out due to its highly robust historic performance and attractive growth potential. We look forward to building on what Mark and the team have already accomplished.

Sunil Jain, Investment Director, Sovereign Capital

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Partners Group to lead delivery of 226MW wind farm project in Australia

Partners Group

Partners Group, the global private markets investment manager, has agreed on behalf of its clients to invest over AUD 200 million in equity to acquire and construct the first stage of Murra Warra Wind Farm (Murra Warra I) in Australia. The 226MW wind farm is being acquired from Renewable Energy Systems (RES) and Macquarie Capital, which jointly developed the project.

Partners Group is leading the delivery of Murra Warra I, which will comprise 61 Senvion 3.7MW turbines with a total nameplate capacity of 226MW, located approximately 30 kilometers north of Horsham in the state of Victoria. RES will work alongside Partners Group to provide certain ongoing services to support the project.

Construction of Murra Warra I commenced in March 2018 and is expected to be completed in mid-2019. The project has already entered into long-term power purchase agreements for a substantial portion of its generation output with investment grade commercial and industrial customers, including Telstra, Australia’s largest telecommunications company, Coca-Cola Amatil, Australia and New Zealand Banking Group (ANZ), the University of Melbourne and Monash University.

Once completed, Murra Warra I will generate enough clean energy to power 220,000 Australian households and offset over 900,000 tonnes of carbon emissions every year. The wind farm is also expected to support around 150 jobs in regional Victoria during construction, stimulating further investment in local businesses and services.

Benjamin Haan, Partner, Co-Head Private Infrastructure Asia-Pacific, Partners Group, states: “We continue to believe the Australian renewable energy sector is benefiting from a transformative trend, with a significant amount of coal-fired generation retirements expected in the coming decade. Investing into a project such as Murra Warra I, where we can enter during the construction phase and successfully deliver the project through to its operation phase, is consistent with our ‘building core’ strategy in infrastructure and is Partners Group’s fourth major wind farm investment in Australia since 2015. The project brings additional scale and diversification to our portfolio and is one of the highest-quality wind resource sites in Australia’s National Electricity Market.”

The Murra Warra I investment follows Partners Group’s recent AUD 700 million commitment to develop Grassroots Renewable Energy Platform (“Grassroots”), a large-scale platform that aims to construct over 1.3GW of new wind power, solar power and battery storage assets across Australia within the next four years. Once operational, Grassroots is expected to become a category leader in the Australian power market as one of the country’s largest independent power producers in the renewables sector. Also in the Australian renewable energy sector, in June 2015, Partners Group invested into the development of the 240MW Ararat Wind Farm, which started supplying clean energy to the Australian national grid in mid-2017.

Andrew Kwok, Senior Vice President, Co-Head Private Infrastructure Asia-Pacific, Partners Group, comments: “Murra Warra I and Grassroots add to our substantial portfolio of renewable energy assets across the Asia-Pacific region. Since 2014, we have delivered over 900MW of renewable energy generation capacity in the region, with another 490MW currently under construction. In order to ensure such large-scale projects are completed on time and within budget, experience has taught us that it is important to focus on procuring construction items with long lead times in a timely manner, having the right in-house expertise to identify and manage risks and partnering with counterparties who bring the right capabilities and experience to deliver a project.”

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

KKR

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

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

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

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

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

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

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

Clarify delivers precise care guidance through its three primary solutions:

Clarify Care Prism

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

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

Clarify Care Pilot

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

Clarify Care Connect

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

About Clarify Health Solutions

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

About KKR

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

 

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

Source: Clarify Health Solutions, Inc

 

 

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