Ratos Company TFS HealthScience acquires Appletree CI Group

Ratos

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

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

 

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

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

 

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

 

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

 

About TFS HealthScience

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

 

About Appletree CI Group

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

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

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

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Montagu agrees to sell Maincare

Montagu

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

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

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

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

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

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

Guillaume Jabalot, Partner, Montagu

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

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

François-Xavier Floren, CEO, Maincare

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

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Resonetics to Acquire SAES Medical Nitinol Business

Carlyle

Expands nitinol raw material and component manufacturing capabilities to address the industry’s growing need for technological advances in an array of therapeutic areas

Nashua, NH January 9, 2023 – Resonetics announced today that it has signed an agreement to acquire Memry Corporation and SAES Smart Materials, Inc. from SAES Getters S.p.A, Milan, Italy. Both acquired businesses are based in the United States with operations in Bethel, Connecticut, New Hartford, New York, and Menlo Park, California. Resonetics is backed by funds managed by global investment firm Carlyle and leading private equity firm GTCR. The transaction is valued at $900 million.

“The SAES Medical Nitinol business is a leading supplier to the medical device industry with a broad set of capabilities focused 100% on nitinol, a novel superelastic, shape-memory alloy that is enabling many technological advances in a growing array of therapeutic areas including structural heart, peripheral vascular, electrophysiology, neurovascular, and orthopaedics,” said Tom Burns, President and CEO of Resonetics. “Upon completion of the deal, Resonetics will have the supply and scale to better address the growing customer needs for nitinol material, components, and implants. We will continue to provide a high level of service to all our customers, including contract manufacturers who serve the medical device industry. We look forward to offering customers enhanced options and products as a result of this transaction, and to working with the 550 employees at SAES Medical Nitinol that will be joining our team once the acquisition closes.”

“We are excited to support the Resonetics management team as it executes on a high growth strategy to bolster its platform of differentiated capabilities to better serve customers,” said Robert Schmidt, a Managing Director specializing in healthcare at Carlyle. “We believe Resonetics and the SAES Medical Nitinol business are highly complementary to each other and this combination, in our view, will result in an even stronger service offering to large medical technology companies across the world.”

“GTCR is eager to invest this additional equity in Resonetics to support the company’s continued strong growth and believe the acquisition of the SAES Medical Nitinol business will strengthen Resonetics’ portfolio of unique products and services to the medical device community,” said Sean Cunningham, Managing Director and Co-Head of Healthcare at GTCR. “We look forward to partnering with the SAES Medical Nitinol team through our continued support of the Resonetics business.”

Resonetics currently operates nitinol centers of excellence in San Diego, California, and Or Akiva, Israel with a focus on laser cutting, braiding, shape setting, and electropolishing. In addition, Resonetics is a leader in centerless grinding of nitinol wire with operations in Blaine, Minnesota and Alajuela, Costa Rica. The Memry business will add extensive electric discharge machining (EDM) capabilities, as well as additional laser processing, centerless grinding, nitinol tubing, sheet, and wire fabrication. The SAES Smart Materials business creates the nitinol raw material from nickel and titanium raw material and converts it into various form factors.

The transaction is expected to close in 2023, subject to the receipt of required regulatory clearances and approvals and the satisfaction of other closing conditions, including the approval of SAES Getters S.p.A. Board of Directors. Until the transaction closes, each company will continue to operate independently. Mediobanca S.p.A. acted as exclusive financial advisor to Resonetics.

About Resonetics
Founded in 1987, Resonetics is a pioneer in advanced engineering, product development, prototyping, and manufacturing solutions for the life sciences industry. Resonetics is a leader in laser processing, centerless grinding, nitinol processing, thin-wall stainless steel & precious metal tubing, photochemical machining, microfluidics, sensor solutions, and medical power. With strategically located AGILE Product Development centers and Lightspeed Labs, Resonetics is committed to quality, speed, innovation, and a great customer experience. The company is ISO 13485:2016 certified with 14 facilities and more than 2,000 associates in the United States, Canada, Costa Rica, Israel, and Switzerland. Resonetics is backed by leading private equity firms Carlyle and GTCR. Learn more at www.resonetics.com.

About Carlyle
Carlyle is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Global Investment Solutions. With $369 billion of assets under management as of September 30, 2022, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 2,100 people in 29 offices across five continents. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.

About GTCR
Founded in 1980, GTCR is a leading private equity firm that pioneered The Leaders Strategy™ – finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through organic growth and strategic acquisitions. GTCR is focused on investing in transformative growth in companies in the Business & Consumer Services, Financial Services & Technology, Healthcare and Technology, Media & Telecommunications sectors. Since its inception, GTCR has invested more than $24 billion in over 270 companies, and the firm currently manages over $26 billion in equity capital. GTCR is based in Chicago with offices in New York and West Palm Beach. GTCR has been an equity investor in Resonetics since 2018. For more information, please visit www.gtcr.com and follow the company on LinkedIn.

Contact
Justin Miller
Resonetics
jmiller@resonetics.com

Brittany Berliner
Carlyle
Brittany.Berliner@carlyle.com

Andrew Johnson
GTCR
Andrew.Johnson@gtcr.com

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Observe Medical signs exclusivity agreement with Ferrari L. to negotiate acquisition of production facility

Reiten

Ferrari L. has been active in producing and supplying single-use medical devices since 1960 and manufactures various products, including urology sets and catheters. The production facility delivers products to companies worldwide and generated annual revenues of around EUR 2.7 million in the financial year 2021.

The contemplated acquisition of this production facility is, if completed, expected to improve Observe Medical’s value chain control and minimize risks associated with the production of the Company’s products. Additionally, the potential acquisition is expected to significantly reduce the Company’s cost of goods (cogs) for existing and new products. A reduction in cogs would be driven by centralized in-house production, which would lead to an uplift in gross margin.

This production facility is highly complementary to Observe Medical’s current operations, as it has the capacity to produce existing products, Observe Medical’s current portfolio of products and the Unometer™ range of urine measurement products. It would also enable Observe Medical to initiate the development and production of new products.

“Looking back at the recent exclusivity agreement to acquire the Unometer™ range of urine measurement products, the potential acquisition of Ferrari L. is expected to significantly strengthen our growing medtech platform. With access to hundreds of distributors worldwide and production capabilities, these agreements support our growth strategy and demonstrate our ability to execute. Assuming completion of these transactions we will be ideally placed to become a leading urine measurement system provider with production capabilities,” said Rune Nystad, CEO of Observe Medical.

With an exclusivity agreement in place, Observe Medical will aim to close the final acquisition agreement for Ferrari L. in the first quarter of 2023. The completion of the acquisition of Ferrari L. is amongst other conditional upon agreement between the parties on a final transaction agreement and completion of such agreement. Consequently, no assurance can at this stage be given that the acquisition of Ferrari L. is completed.

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Care Fertility Group expands its international footprint to the US and Spain

Nordic Capital

Care Fertility has today announced new partnerships with the US based Reach Fertility and Spanish based IVF-Life. These are the latest of several fertility clinic transactions by Care Fertility, a leading IVF group in the UK and one of the leaders globally in the treatment of infertility. 

Care Fertility, backed by private equity investor Nordic Capital, has a reputation for innovation, clinical excellence, a unique patient proposition and delivering strong success rates for all patients.

The partnerships with REACH Fertility and IVF-Life will enable Care to leverage its expertise, innovation and outstanding patient care across international markets. Despite the global economic challenges, the demand for fertility treatment remains strong. This is largely due to rising infertility cases and an increasing trend of delaying pregnancy for various reasons.

Our Spanish partnership delivers an exciting opportunity for both Care Fertility and IVF-Life to give patients a seamless experience across borders, whilst the essence of the US partnership is the creation of key synergies and the opportunity to bring some of Care’s unique innovations to the US market”, explains David Burford, CEO of Care Fertility group.

Over the last twenty-five years, patients have travelled from around the world to access treatment at some of Care’s world-leading clinics in the UK. Care’s expansion to the US and Spain provides an important first step in delivering greater accessibility for international patients.

Nordic Capital is delighted to support this exciting new stage in Care Fertility’s growth. We see it as an opportunity to access key new markets and leverage the underlying tools, platform and innovation that Care Fertility have created. We welcome IVF-Life and REACH Fertility to the Care Fertility Group”,  Alfa Chan, Partner, Nordic Capital Advisors.

 

For further information, please contact:

 Alison Weatherall, Marketing Director, Care Fertility Group

Alison.weatherall@carefertility.com

Mobile: +44 7530 290703

 

About:

 

Care Fertility

Care Fertility is an international fertility group, focused on innovation, clinical excellence and market leading patient proposition with strong success rates. Over the last 25 years, Care Fertility scientists and clinicians have driven many of the innovations in the field of IVF and their continuous clinical improvement is supported by and recognised through international collaborations and publications. Their current work on time-lapse imaging and artificial intelligence is shared internationally.

Inclusivity is at the core of Care’s culture, with a brand promise of Family is for everyone, they continue to build a culture where everyone belongs and empathy is shown for all groups. It is this blended coalescence of empathy and scientific excellence that makes Care different.

Care Fertility has links with various academic institutions and leads the field in training of specialist staff. They have established a Masters degree in clinical embryology in collaboration with Liverpool John Moore’s University.

Care Fertility sits as one of six international experts on the World Health Organisation’s focus group to specify standardised benchmarks and guidelines for AI within human reproduction and fertility systems.

Care Fertility is the largest independent provider of fertility treatments in the UK, with 23 clinics across the UK and Ireland.  www.carefertility.com

 

REACH Fertility 

The Reproductive Endocrinology Associates of Charlotte (REACH) has been a leader in assisted reproduction for over three decades. Located in North Carolina, REACH has achieved some of the highest pregnancy rates in the Southeast of the US.

The practice’s infertility specialists—Dr. Seth E. Katz, Dr. Joseph G. Whelan, III, Dr. Richard L. Wing, Dr. Jack L. Crain, Dr. Tyl Taylor, Dr. Jennifer Patrick, Taylor Holt, PA-C, Ann Morris Merline, PA-C, Grace Perez, PA-C and Daminica Mc Phillips, NP- BC have more than 130 years of combined experience, and are nationally recognized as leaders in the field.  www.northcarolinafertility.com

 

IVF-Life

IVF-Life Spain is a group of fertility clinics which specialise in complex cases. Their centres, located in Alicante, Madrid and San Sebastián, have the latest advances in Reproductive Medicine. They focus on constant innovation and a firm commitment to technology to maintain their position at the forefront of the assisted reproduction field. They have a strong international reputation and treat patients from around the world.  www.ivf-spain.com

 

Nordic Capital

Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and selectively, Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested close to EUR 22 billion in 130 investments. The committed capital is principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland, Norway and South Korea. For further information about Nordic Capital, please visit www.nordiccapital.com

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EQT Future and ATHOS, alongside other co-investors, invest in SHL Medical, a world-leading provider of advanced drug delivery solutions

eqt
  • SHL Medical is a pioneer in medical autoinjectors, which allow patients to safely self-administer medications at home while reducing the burden on healthcare systems
  • EQT first partnered with SHL Medical in January 2020 through its EQT VIII fund. Having outperformed its business plan since, SHL Medical formulated an ambitious growth strategy until 2030, for which EQT Future, ATHOS and other co-investors will serve as partners
  • The consortium will support SHL Medical in its next phase of growth, expanding its production footprint to the United States and Europe, while further strengthening the Company’s positive impact by increasing patient autonomy and through circularity and reusability initiatives

EQT Future, EQT’s new impact-driven longer-hold investment strategy, and ATHOS, alongside other co-investors (the “Consortium”), have today announced an investment in SHL Medical (“the Company”), a world-leading provider of drug delivery solutions. The Consortium will acquire a minority share of the Company from EQT’s Equity fund VIII, which will exit the Company. Roger Samuelsson, the Company’s founder, will remain the majority shareholder.

SHL Medical serves as a partner to global pharmaceutical and biotech companies in the development and production of medical autoinjectors. Autoinjectors are the preferred drug delivery solutions for highly complex biologic drugs and its biosimilar derivatives. The solutions allow patients to safely self-administer medication at home, especially for chronic diseases, which represent an increasing global health threat and require frequent treatments over long periods. Self-treatment increases patients’ quality of life while reducing the burden on healthcare systems. Headquartered in Switzerland, SHL Medical has a global presence with offices and operations in Europe, Asia, and the United States, employing more than 5,000 people worldwide.

Since the investment by EQT VIII in 2020, SHL Medical has significantly outperformed its business plan, having upgraded its manufacturing and commercial capabilities while focusing on digitalization. It has recently won several new long-term contracts, which will be a critical driver of the firm’s growth strategy through 2030. The Company is working on a range of new product launches while expanding its production footprint to the United States and Europe. EQT Future and ATHOS will support this journey while working closely with the SHL Medical management team to further strengthen the Company’s positive impact by increasing patient autonomy and through circularity and reusability initiatives.

Ulrich Faessler, CEO of SHL, commented: “Above all else, SHL Medical’s success has been predicated on an unresolving commitment to improving the lives of patients. We have a great partnership with EQT and are excited to work closely with EQT Future, ATHOS and the other co-investors to accelerate our global expansion and to develop new drug delivery solution offerings. Together, we will continue to build and grow the company to provide the best possible service to our customers and for patients around the globe.”

Andreas Aschenbrenner, Responsible Partner within EQT VIII’s Advisory Team, said: “The successes of the last three years have been a testament to Roger and his team. Ulrich together with his world class team have launched new product platforms with additional benefits for patients, automated the assembly process, accelerated geographical diversification, and with their innovations laid the foundation for SHL Medical to become a sustainability champion within its field. We believe that EQT Future, ATHOS and the other co-investors are the right partners to build on these achievements and strengthen SHL Medical’s long-term prospects.”

Rikke Kjær Nielsen, Partner within EQT Future’s Advisory Team, said: “EQT Future backs market leading businesses which improve our planet through the products and services they deliver, while having the potential to shape their industries. SHL Medical is all of this and more. Together with ATHOS, one of the leading global life sciences investors, and other co-investors, we are well positioned to support Ulrich and his team as they expand SHL Medical’s global production footprint and further strengthen the Company’s impact and sustainability strategy.”

Wolfgang Essler, General Manager at ATHOS, said: “We are proud to partner with a business as exceptional as SHL Medical. Being healthcare and life sciences investors at the very core of our DNA, we have the utmost respect for the entrepreneurial achievements of Roger Samuelsson and his team, who are pioneers in the area of medical self-injection devices for biologic drugs that increase the autonomy of patients. We look forward to collaborating with SHL Medical and EQT Future to explore the potential for patients to safely self-administer a new generation of drugs. This fits into the impact goals that we apply to our investment criteria.”

 

Contact

EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

The information contained herein does not constitute an offer to sell, nor a solicitation of an offer to buy, any security, and may not be used or relied upon in connection with any offer or solicitation. Any offer or solicitation in respect of EQT Future will be made only through a confidential private placement memorandum and related documents which will be furnished to qualified investors on a confidential basis in accordance with applicable laws and regulations. The information contained herein is not for publication or distribution to persons in the United States of America. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold without registration thereunder or pursuant to an available exemption therefrom. Any offering of securities to be made in the United States would have to be made by means of an offering document that would be obtainable from the issuer or its agents and would contain detailed information about the issuer of the securities and its management, as well as financial information. The securities may not be offered or sold in the United States absent registration or an exemption from registration.

About EQT
EQT is a purpose-driven global investment organization with EUR 114 billion in assets under management within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About ATHOS
ATHOS KG is a Munich based single family office. ATHOS with its heritage in healthcare and life sciences invests in teams with exceptional science expertise and technology-driven companies with an entrepreneurial and value-based approach. 

About SHL Medical
SHL Medical designs, develops and manufactures advanced drug delivery devices, such as autoinjectors, pen injectors and advanced inhaler systems, and provides final assembly, labeling, and packaging services for pharma and biotech companies worldwide. Headquartered in Switzerland with locations in Taiwan, Sweden, and the US, SHL Medical employs more than 5,000 employees worldwide.

More info: www.shl-medical.com

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Certara Announces the Completion of Arsenal Capital Partners’ Investment and the Appointment of David Spaight to the Board of Directors

Arsenal Capital Partners

Arsenal closed the previously announced $449M stock purchase from funds controlled by EQT Private Equity

Princeton, N.J.- Certara, Inc. (Nasdaq: CERT) today announced that Arsenal Capital Partners (“Arsenal”), a private equity firm specializing in investing in and building transformational healthcare companies, closed its previously announced $449 million new investment in Certara. David Spaight, an Operating Partner at Arsenal, has been appointed to Certara’s Board of Directors, effective immediately. Stephen McLean, a Senior Partner at Arsenal, will continue to serve on Certara’s Board of Directors.

As previously announced, in a separate agreement with the company, Arsenal has agreed to a two-year lock-up prohibiting any sale of the newly purchased shares without company authorization, reflecting Arsenal’s commitment to being a long-term shareholder. Arsenal previously held a majority stake in the company through 2017 and has held a minority stake since Certara’s initial public offering in 2020.

“We are pleased with Arsenal’s continued support and confidence in Certara and welcome David Spaight to the Board of Directors,” said William F. Feehery, Chief Executive Officer of Certara. “David’s deep industry experience and expertise will be valuable to Certara as we continue to grow our impact on the global biopharmaceutical industry.”

Prior to joining Arsenal in 2016, Mr. Spaight served as the Chairman and CEO of WIL Research Laboratories, a leading pre-clinical CRO acquired by Charles River Laboratories, and, before that, as President of MDS Pharma Services, a global CRO serving all phases of pharmaceutical research and development. Mr. Spaight has also held senior leadership positions in Fisher Scientific and PerkinElmer.

“I am pleased to join Certara’s Board of Directors and bring my industry experience to a company that is transforming traditional drug discovery and development with biosimulation,” said Mr. Spaight. “I look forward to working with the Certara leadership team and Board of Directors to advance the company’s next phase of growth.”

In connection with the sale of the remaining Certara shares held by
funds controlled by EQT Private Equity, Eric Liu and Ethan Waxman have stepped down from the Board of Directors, effective immediately.

About Certara

Certara accelerates medicines using proprietary biosimulation software, technology, and services to transform traditional drug discovery and development. Its clients include more than 2,000 biopharmaceutical companies, academic institutions, and regulatory agencies across 62 countries.

Investor Relations Contact:
David Deuchler
Gilmartin Group
ir@certara.com

Media Contact:
Daniel Yunger
Kekst CNC
daniel.yunger@kekstcnc.com

Jackie Schofield
Prosek Partners
Pro-Arsenal@prosek.com

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KKR to acquire Clinisupplies to accelerate growth and help build a leading international chronic care medical devices platform

KKR

KKR to support organic and inorganic growth to enhance Clinisupplies’ leadership position in collecting devices and expand its broader chronic care portfolio

Claus Bjerre, KKR Senior Advisor and former Chief Executive Officer of Atos Medical AB, to serve as Chairman of Clinisupplies’ Board of Directors

LONDON–(BUSINESS WIRE)– KKR, a leading global investment firm, announced today that KKR has agreed to acquire Clinisupplies, a market leader in continence care products in the UK, from Healthium. Clinisupplies’ management team will continue to hold a minority position. Financial details of the transaction were not disclosed.

Clinisupplies is a UK-based manufacturer and distributor of continence care products, including urinary collecting devices and catheters. Clinisupplies’ products are supplied to hospitals and pharmacies, while also available for delivery to patients directly through its home delivery services – “Clinidirect.” Clinisupplies is headquartered in Watford, London, and employs over 400 employees.

Claus Bjerre, KKR Senior Advisor and former Chief Executive Officer of Atos Medical AB and former President, North America, of Coloplast, will serve as Chairman of Clinisupplies’ Board of Directors, where he will draw on his extensive sector experience and help guide the group on its future growth. In addition to leveraging KKR’s broader advisor and expert network, industry veteran Douglas Le Fort, who brings over 20 years of senior executive leadership experience, including as an Executive Committee Member at ConvaTec Group, will also join the Board of Directors.

Paul Cook, CEO of Clinisupplies, commented: “We are thrilled to form this strategic partnership with KKR, and to be welcoming Claus and Douglas to our Board. This transaction presents a pivotal growth opportunity for the business, and to be able to leverage their collective skills and expertise will be invaluable as we position the business for the future. With KKR’s global network and market knowledge, and with this strong suite of industry advisors, we will be able to expand into new products and geographies, helping to support more and more people and bringing us one step closer to our goal of becoming an international leader in the chronic care market.”

Claus Bjerre, KKR Senior Advisor, commented: “Clinisupplies has an industry leading track record as a fully integrated provider of continence care solutions to clinics and patients across the UK. Its business model covers the entire value chain, from R&D and manufacturing to direct-to-patient sales and distribution, allowing the group to continuously understand and address the evolving needs of patients, clinicians, and caregivers alike. I look forward to collaborating with Clinisupplies’ outstanding management team in pursuing its ambitious growth plans.”

Kugan Sathiyanandarajah, Managing Director and Head of Europe for KKR Health Care Strategic Growth, said: “Clinisupplies is a proven market leader in collecting devices in the UK with a differentiated business model. This investment is another example of our Health Care Strategic Growth platform strategy in collaboration with proven operators in a thematic area we have been following for some time. We are delighted to be bringing together an exceptional management team led by Paul with a highly experienced advisory suite led by Claus.”

KKR is investing in Clinisupplies through KKR Health Care Strategic Growth Fund II, a $4.0 billion fund focused on investing in high-growth health care companies. KKR has a long track record of supporting health care companies globally, having invested approximately $17 billion in the sector since 2004.

KKR was advised by Houlihan Lokey (financial advisor), Gibson, Dunn & Crutcher LLP (legal counsel), PWC (financial & tax) and BCG (commercial).

— ends —

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

About Clinisupplies

Clinisupplies is a leading UK-based manufacturer and supplier of medical appliances specialising in continence products for managing acute and chronic conditions. The company also offers a portfolio of bandages and garments for the treatment of wounds and chronic skin conditions. Employing over 400 people in the UK, China and India, Clinisupplies supplies its products to the NHS and delivers direct to patients’ homes through Clinidirect, its dispensing appliance contractor.

Clinisupplies is focused on developing products which are simple and discreet to use. Its product development team works with clinicians and patients to develop a strong product pipeline to be manufactured at its CE, ISO, US FDA approved facilities.

Please visit www.clinisupplies.co.uk for further information.

Media
FGS Global
Alastair Elwen / Sophia Johnston
Telephone: +44 20 7251 3801
Email: KKR-Lon@FGSGlobal.com

Source: KKR

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ZS and Abacus Insights Announce Partnership To Bring Innovative Data and Analytics Solutions to Health Plans

.406 Venture

EVANSTON, Ill. and BOSTON, Mass. – November 29, 2022 –  As ZS continues to help health plans evolve and transform, the firm announced today an investment in and partnership with Abacus Insights, a healthcare technology leader with a groundbreaking offering in data usability that rapidly accelerates the achievement of key health plan goals including efficiency, equity, health services and member outcomes.

“At ZS, we believe the future of healthcare is connected, with providers, health plans, pharma companies and other stakeholders working together,” said ZS CEO Pratap Khedkar. “Usable data from Abacus Insights is a key enabler and connecter, and we take seriously our role in helping health plans innovate and excel. Partnerships like this one between ZS and Abacus Insights will be increasingly important in a connected health ecosystem.”

Abacus Insights offers the capability to consolidate and clean billions of pieces of structured and unstructured data from payers, providers, labs, digital apps and many more sources, providing end users with complete, current and accurate data sets that drive both operational and analytical uses. Through this partnership, health plans working with ZS gain access to usable data and a full suite of analytics and digital tools, unlocking insights from sales to operations to health outcomes and accelerating a path to decisions and actions.

“Abacus Insights is proud to have the support of ZS both as an investor and partner. ZS recognizes that data usability is a game-changer in creating and scaling big performance advances for health plans,” said Minal Patel, Abacus Insights CEO. “Our companies share a common purpose to improve healthcare. Our combined health plan-specific expertise will accelerate our ability to help clients achieve their key transformational goals of better serving their members and leading healthcare change.”

Usable data from Abacus Insights is already powering better quality reporting, more accurate risk adjustment and improved value-based contracting, care and payments. ZS Managing Principal Adam Siskind, who leads the firm’s health plan and provider vertical, said the partnership aims to help unlock use cases that health plans can leverage to fully realize the benefits of their analytics transformations.

“There is no shortage of health plan challenges to solve, and it seems there is never enough capacity to unravel them. Our partnership with Abacus Insights will help our clients access the solutions they need to not only reach their goals but to do so efficiently and with scale,” Siskind said. “At ZS, we are proud to be the leading firm at the intersection of healthcare and analytics, so it only made sense to join forces with Abacus Insights, a company already recognized as the leader in health plan data usability in the U.S. Our combined capabilities allow us to achieve a new level of impact that all of our health plan clients seek—and all of their members deserve.”

About ZS

ZS is a management consulting and technology firm focused on transforming global healthcare and beyond. We leverage our leading-edge analytics, plus the power of data, science and products to help our clients make more intelligent decisions, deliver innovative solutions and improve outcomes for all. Founded in 1983, ZS has more than 12,000 employees in 35 offices worldwide. To learn more, visit www.zs.com.

About Abacus Insights

Abacus Insights is a healthcare technology leader with the only data transformation platform and solutions built specifically for health plans. Focused on data quality and usefulness, Abacus Insights gives payers a new level of control and flexibility with their data by developing accurate, timely, and robust ecosystems that can support any analytics or other applications. Managing data for 21 million members, Abacus Insights partners with payers to deliver scalable solutions that drive strategic initiatives, control costs, and improve member lives and experiences.

Audax Private Equity Announces Acquisition of Medi-Weightloss, Inc.

Audax Group

BOSTON & TAMPA, Fla.–(BUSINESS WIRE)–Audax Private Equity (“Audax”) announced the acquisition of Medi-Weightloss, Inc. (“the Company”), a leading operator of science-based, physician-supervised weight-loss and wellness clinics, with approximately 100 franchised and company-owned locations nationally. Buzz Franchise Brands is co-investing alongside Audax as a minority-stake partner. Financial terms of the transaction were not disclosed.

Headquartered in Tampa, Florida, Medi-Weightloss offers customized weight-loss programs designed to address obesity and other related diseases, including heart disease, stroke, type-2 diabetes and other specific conditions generally covered by commercial insurance payors. The Company also sells a line of proprietary nutritional supplements, healthy-food products and vitamins that treat comorbidities caused by obesity.

Franchised clinics account for approximately 80% of Medi-Weightloss’ total locations. The Company provides comprehensive support to its base of professional franchisees, ranging from compliance and regulatory oversight to other support functions, such as advanced staff training, IT, quality assurance, franchise-performance consulting, and advertising and marketing.

“Medi-Weightloss differentiates itself a number of ways,” noted Edward Kaloust, founder and board member of Medi-Weightloss. “Beyond the breadth and scope of the Company’s individualized programs spanning the full continuum of care, our value proposition rests on the documented efficacy of our approach. For instance, a two-year study demonstrated that the diet and intensive lifestyle and behavioral programs offered by Medi-Weightloss reduced the prevalence of metabolic syndrome by 45% in 13 weeks and by 73% over 52 weeks. Moreover, patients on the Medi-Weightloss individualized calorie-restricted program lost 29 pounds, on average, over a 13-week period.”

“The obesity epidemic is only getting worse,” added Ken Hall, incoming CEO of Medi-Weightloss. “Our customized programs, tailored to the specific conditions of each individual, are developed by physicians board-certified to treat obesity. We’re thrilled to partner with Audax Private Equity to accelerate our growth and address this challenge through personalized programs that catalyze the lifestyle and behavioral changes necessary to deliver improved health outcomes to our patients.”

“We are excited that Medi-Weightloss has decided to partner with Audax Private Equity and believe the firm represents an ideal steward for the Medi-Weightloss brand going forward,” added Kurtis Freidag, President of Medi-Weightloss’ Franchisee National Advisory Council. “Audax can help propel us to the next level and has an established track record of facilitating growth in companies like ours. People need these services more than ever and it’s exciting to think about how many more people we will be able to help.”

“Medi-Weightloss represents a prototypical deal for our Origins strategy, which builds on Audax’ historic focus in the lower middle market,” added Keith Palumbo, Managing Director at Audax Private Equity. “In addition to strategic initiatives focused on enhancing Medi-Weightloss’ current patient outcomes and unit performance, we see a compelling opportunity to expand the Company’s geographic footprint through new franchise growth and acquisitions that will expand access to care for an underserved and growing patient population.”

Medi-Weightloss represents the second investment completed by Audax Private Equity’s lower middle market Origins strategy. Kroll Securities, LLC served as financial advisor to the sellers. Ropes & Gray LLP served as legal counsel to Audax and Quarles & Brady LLP served in the same capacity to the Company.

ABOUT AUDAX PRIVATE EQUITY

Audax Group is a leading alternative investment manager with offices in Boston, New York, San Francisco and London. Since its founding in 1999, the firm has raised over $32 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $9 billion in more than 150 platforms and over 1,100 add-on companies, and is currently investing in add-ons out of its $3.5 billion, sixth private equity fund. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With more than 360 employees and over 150 investment professionals, the firm is a leading capital partner for North American middle market companies. For more information, visit the Audax Private Equity website at www.audaxprivateequity.com or follow us on LinkedIn.

ABOUT MEDI-WEIGHTLOSS

Based in Tampa, Florida, Medi-Weightloss is a national franchisor and direct provider of physician-supervised weight loss and wellness clinics, and a provider of healthy food products and supplements. With approximately 100 franchised and company-owned locations across 27 states, Medi-Weightloss prides itself on its evidence-based approach to treatment through clinical research. To learn more, visit the company website at www.mediweightloss.com

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