Tag Archives: healthcare

Dutch Quadrum Capital invests in LensOnline’s vision for the future

Quadrum Capital

Kruibeke/Woerden, May 25th, 2022 – LensOnline, the largest online supplier of contact lenses in the Benelux, and Dutch investment company Quadrum Capital are joining forces to support LensOnline’s further growth on the European market and to invest in a wider range of total solutions for eye care.

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Quadrum Capital – LensOnline

In recent years LensOnline has experienced strong growth in Belgium and the Netherlands, but still sees more opportunities. Bert Boon, CEO and founder of LensOnline: “The demand from the market is more towards offering a total approach. The hybrid model in which we call in the expertise of independent opticians meets that demand, but the challenges and opportunities in the longer term are greater.” With the cooperation with Quadrum Capital, LensOnline hopes to fulfil its plans for further European expansion, further focus on e-commerce and next steps in eye care.

“Just that hybrid model is what we at Quadrum Capital want to support and build on,” says Hedzer Wester, Investment Manager at Quadrum. “The e-commerce experience within LensOnline and its broad network of partner opticians, are complementary to our current investments.” Quadrum Capital and LensOnline are mainly looking at expanding the partner network and services around eye care. Wester outlines the long-term goal: “By combining a network of eye experts with a broad partner network, we reach consumers who often have difficulty finding that total vision solution.”

In the short term, LensOnline will focus mainly on geographical expansion, with further growth in the Netherlands and the full roll-out of the concept in Italy at the top of the agenda. Together with Quadrum Capital, LensOnline wants to realise this growth by taking its current marketing activities to an even higher level. In addition, the possibilities of entering the German market will be investigated.

Boon: “With Quadrum Capital we have a partner who on one hand believes in our plans to offer more complementary services around eye care, but on the other hand is also willing to take those plans to a European level. Quadrum Capital’s know-how and network are invaluable in that respect.”

With Bert Boon as founder and CEO, the current management is anchored in the shareholder structure and day-to-day succession is assured. “In order to realise growth and move faster in the future, it is important for LensOnline that the current management remains on board,” continues Boon.

About LensOnline LensOnline®, founded in 2004, is one of the largest online suppliers of contact lenses. LensOnline operates in Belgium, the Netherlands and Italy where it works with a large network of more than 250 independent partner opticians who assist consumers in purchasing contact lenses, liquids and care products.

About Quadrum Capital Independent investment company Quadrum Capital helps companies in the mid-market segment to achieve their growth ambitions in a responsible way. Entrepreneurship, strong commitment and the contribution of high-quality management experience, network and financial strength form the basis for this. Quadrum Capital has offices in Woerden and Almelo and is characterized by a strong regional presence, a sharp vision and a no-nonsense mentality.

Since its foundation in 2012 Quadrum Capital has built a broad portfolio of participations in various sectors. Healthcare and IT are among Quadrum Capital’s focus sectors and LensOnline’s activities are a perfect match. The participation in LensOnline will take place from the recently founded Quadrum Investment Fund IV. This fund is mainly financed by entrepreneurs and entrepreneurial families and has a clear (international) growth ambition.

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Balance Point Capital Announces its Investment in Vital Nutrients Holdings, Inc. d/b/a Blueroot Health

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Balance Point Capital
Westport, CT, May 24, 2022 – Balance Point Capital Advisors, LLC (“Balance Point”), in conjunction with its affiliated funds, Balance Point Capital Partners IV, L.P, and Balance Point Capital Partners V, L.P., is pleased to announce its investment in Vital Nutrients Holdings, Inc. d/b/a Blueroot Health (the “Company”), a portfolio company of North Castle Partners.  Continuing with its position as a leading provider of flexible capital to the lower middle market, Balance Point provided financing to support the Company’s recapitalization and its purchase of Fairhaven Health.
Founded in 2020 and headquartered in Middletown, CT, Blueroot Health is a consumer health company building brands that consists of a family of well-respected nutraceutical brands including Vital Nutrients, Bariatric Fusion, Hyperbiotics, and now Fairhaven Health.  Blueroot Health offers healthcare practitioners, their patients and consumers alike a suite of meticulously crafted, innovative products that combine the best of clinically-proven science and the cleanest ingredients, tested to exceed industry safety and quality standards.
“We are pleased to be able to support Blueroot Health, an established leader in the practitioner-focused VMS category, and to partner with North Castle Partners,” remarked Balance Point Partner Justin Kaplan. “We believe Blueroot’s diverse product portfolio of trusted brands and proven ability to innovate and expand distribution across practitioner and e-commerce platforms will continue to drive significant growth for the Company going forward.”
Jane Pemberton, Blueroot’s CEO, said “We are excited to be working with Balance Point on this transaction. Their understanding of our business and industry and capital flexibility will provide the support necessary to execute on our growth objectives.”
Roy Chin, North Castle Partners’ Principal, added “This is our second transaction with Balance Point and we are pleased to partner with Balance Point again to optimize Blueroot’s capital structure to support the Company for its next phase of growth. Balance Point’s flexibility and fast execution proved critical in this transaction.”
About Balance Point Capital
Balance Point Capital is an alternative investment manager focused on the lower middle market. With approximately $1.7 billion in assets under management as of April 2022, Balance Point invests debt and equity capital in select lower middle market companies across a variety of investment vehicles. Balance Point takes a long-term, partnership approach to investing and is committed to building lasting relationships with its partners, management teams and intermediaries.
Balance Point Capital Advisors, LLC is a registered investment advisor. Further information is available at www.balancepointcapital.com.

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Helsinki-based Helppy is revolutionising home care and has picked up €3 million to expand across Europe

Alliance Venture

Elderly home care is a highly personal form of care provision, and its an area that has been in need of a facelift. Empowered by tech, Helppy has developed a platform that will revolutionise the sector and is based around a neighbourhood care model. The concept allows for more personal care, full transparency and higher productivity than the traditional route-based shift worker model.

As proof of its concept, the previously bootstrapped company has just picked up €3 million in a round led by Alliance Venture. Pre-seed investors Icebreaker.vc, Johannes Schildt, the Co-Founder and CEO of Kry/Livi and Elias Aalto, the Co-Founder of Wolt, also participated in the round and continued to back Helppy.

Anders Hallin, Partner of Alliance VC said: “Helppy has completely redesigned the home care model, allowing them to provide better care and better experience for all parties involved. Their model is unique and can solve many of the problems the ageing population in Europe faces from nurse shortage to the rising demand for care services.”

Founded in Helsinki in 2018, Helppy was developed when founder Richard Nordström needed care for his own mother. When his mother sadly fell ill, Richard found that the existing care provisions were too hard to organise and the service too impersonal. Helppy was developed as a tech-empowered neighbourhood model, which allows the senior to be visited by familiar ‘helppers’. From Helppy, the family member gets personal, trustworthy and affordable help for the ageing parent, hassle-free.

Richard Nordström, Founder & CEO of Helppy, explained: “We’re building the next-generation model of home care. With our model, you will get named ‘helppers’ or nurses, know who visits, know their backgrounds, get visit notes and be able to communicate with them. Using tech to make it personal and trustworthy – at the same price or lower than home care in general.” 

The Finnish startup has now helped nearly a thousand families in Finland and attracted over 5000 nurses and personal assistants to sign up on the platform and offer their help to seniors in need.

Richard Nordström, added: “We believe that our type of model will be adopted by a significant part of the home care market in the next few years, and help solve the ongoing nurse shortage. We’re seeing this happening already in the US, but now also emerging in Europe. The home care market only in Europe is worth over €100 billion and growing 8% annually. With the new funding we’re launching operations now in several markets in Central Europe. ”

With the fresh funding, Helppy will now expand beyond Finland, taking its personalised care offering to families in need across the continent. In addition, the startup will welcome former Swappie Head of DACH region Lauri Tevilin to the team to head growth plans.

Riku Seppälä, a Founding Partner of Icebreaker.vc, added: “Helppy’s team has succeeded in developing technology that revolutionizes the quality of the care for the customer. Coming from Finland and having proven their concept in the world’s most developed care market, we see that Helppy can make a real impact on the elderly care system in Europe”.

Johannes Schildt, the Co-Founder of Kry, said: “Helppy innovates elderly care by using technology to make it more continuous, personal and tailored to each individual’s needs. We need great teams who develop our welfare services and Helppy injects innovation into this much-needed part of healthcare, elderly care”.

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New vertically integrated dental chain established in the Netherlands

Bencis

Breda, March 2022

In January 2022 the Clinias Dental Group B.V. (CDG) was established by a
consortium of partners including Bencis.

CDG is a vertically integrated dental chain with the core of its activities based in the
Netherlands and headquartered in Breda (NL). The group has the ambition to
become an international best-in-class provider of dental care across the value chain.

Dental care will be provided to the patients of the group through large scale dental
clinics meeting the highest quality standards and through mobile dental clinics to
patients with no or limited ability to visit our clinics. The (mobile) clinics and their staff
will have access to a broad range of products and services provided from within the
group including but not limited to dental implants, dental laboratory technicians,
micro-biological tests and recruitment and staffing services.

The Netherlands has been one of the leading countries in dental for a long time.
However, the industry in the Netherlands is increasingly facing a shortage of young
talent graduating from university. To make a meaningful impact on the access to and
continuity of high-quality dental care in the Netherlands CDG has established an
international recruitment and education platform to help talent from a variety of
countries to obtain employment in the Dutch dental market.

CDG sees the opportunity to expand its business, besides the organic growth of its
existing organisation, through the acquisition of dental clinics or related businesses
with the current focus on the Netherlands and parts of Germany. The investment of
the current shareholders of the company will help CDG to build the scale required to
further improve quality of care and to safeguard continuation thereof.

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Baird Capital Portfolio Company OncoHealth Announces New Strategic Investments

Baird Capital

Baird Capital portfolio company OncoHealth, a leading digital health company dedicated to oncology, today announced new strategic investments from Arsenal Capital Partners (“Arsenal”) and McKesson Corporation (“McKesson”). Arsenal will take a majority ownership stake in the business and Baird Capital will retain a minority equity stake in the business; additional financial terms of the transaction were not disclosed.

Baird Capital initially invested in OncoHealth in May 2020 when the Venture team led a $28 million, Series C financing round. The new investments from Arsenal and McKesson will continue to support OncoHealth’s innovation and delivery of its oncology-specific digital health solutions for people with cancer.

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New revolving credit facility of CHF 250 million for Swiss Medical Network SA

Aevis Victoria

AEVIS VICTORIA SA / Key word(s): Miscellaneous

06-May-2022 / 07:00 CET/CEST

Release of an ad hoc announcement pursuant to Art. 53 LR

The issuer is solely responsible for the content of this announcement.

Ad hoc announcement pursuant to Art. 53 LR

Fribourg, 6 May 2022

AEVIS VICTORIA SA: New revolving credit facility of CHF 250 million for Swiss Medical Network SA

Swiss Medical Network SA, the second largest private hospital and clinic group in Switzerland and the largest subsidiary of AEVIS VICTORIA SA, signed a new CHF 250 million revolving credit facility provided by a Swiss banking syndicate led by Credit Suisse (Schweiz) AG. This credit facility replaces the existing CHF 120 million revolving credit line implemented in 2017.

The five-year credit facility is made available to the hospital network for general business purposes and future acquisitions. Thanks to the improved maturity level of Swiss Medical Network, the new revolving credit facility provides more advantageous terms and covenants as well as increased flexibility to the group.

For further information:
AEVIS VICTORIA SA Media and Investor Relations: c/o Dynamics Group, Zurich
Philippe R. Blangey, prb@dynamicsgroup.ch, +41 (0) 43 268 32 35 or +41 (0) 79 785 46 32
Séverine Van der Schueren, svanderschueren@aevis.com, +41 (0) 79 635 04 10

AEVIS VICTORIA SA – Investing for a better life
AEVIS VICTORIA SA invests in healthcare, hospitality & lifestyle and infrastructure. AEVIS′s main shareholdings are Swiss Medical Network SA (90%, directly and indirectly), the only Swiss private network of hospitals present in the country’s three main language regions, Victoria-Jungfrau AG, a luxury hotel group managing ten luxury hotels in Switzerland and abroad, Infracore SA (30%, directly and indirectly), a real estate company dedicated to healthcare-related infrastructure, Swiss Hotel Properties SA, a hospitality real estate division, and NESCENS SA, a brand dedicated to better aging. AEVIS is listed on the Swiss Reporting Standard of the SIX Swiss Exchange (AEVS.SW). www.aevis.com.

 

Additional features:

File: AEVIS VICTORIA SA: New revolving credit facility of CHF 250 million for Swiss Medical Network SA

End of ad hoc announcement

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Navamedic acquires Impolin AB and broadens obesity portfolio

Reiten

Navamedic announced on Thursday 5th of May that it has entered into a share purchase agreement with Agnvicen AB to acquire 100% of the shares in Impolin AB for a purchase price of SEK 50 mill on a debt and cash free basis. The acquisition strengthens Navamedic’s position in the market for obesity treatment, enabling them to support patients and consumers during weight loss or obesity treatment.

Impolin AB is a Stockholm based company that specializes in products related to the pre- and post-treatment for bariatric surgery. Impolin’s portfolio includes Modifast, a range of diet and meal replacement products, and MedMade, a multivitamin and minerals tablet for post-bariatric surgery supplementation, which are products aimed at supporting patients during weight loss or obesity treatment, including bariatric surgery. Navamedic’s addition of Modifast and MedMade is set to broaden their current product offering within the area of obesity treatment, which enables the company to support patients throughout the entire weight loss journey.

“Our ambitions are bold, but by capitalizing on the strong transaction synergies, I am confident that we will successfully launch our expanded product range across the Nordic territory. Together with the Impolin team, we are planning to launch Modifast in Norway in 2023, followed by rollout in Finland and Denmark, and double product revenue by the end of 2028,” commented Kathrine Gamborg Andreassen, CEO of Navamedic.

“Navamedic has dedicated part of its product portfolio to treating obesity, making the company our preferred partner. With Navamedic’s position as a reliable supplier of high-quality products in the Nordics, we believe this agreement will accelerate access to our products for patients outside of Sweden. I look forward to collaborating closely with the team at Navamedic to contribute to improving the quality of life for people,” said Tony Brejke, Managing Director and owner of Impolin AB.

Navamedic will settle SEK 25 mill of the purchase price by way of issuing new shares to the seller through conversion of an account receivable to be issued by Navamedic to the seller at closing. The remaining portion of the purchase price will be settled in cash. In addition, the seller may be entitled to an additional consideration in the amount of SEK 5 mill if certain pre-agreed milestones for Impolin AB are satisfied by year-end 2022. The subscription price for the new shares shall be equal to the volume weighted average share price of the Company’s shares on the Oslo Stock Exchange during the period from 31 December 2021 to the closing date of the transaction. The consideration shares will be listed on the Oslo Stock Exchange and be subject to a lock-up period of 24 months from the closing date. The board of directors of Navamedic will issue the consideration shares pursuant to an authorization to issue new shares granted to it by the general meeting of the Company on 3 June 2021 or, if completion occurs after the expiry of such authorization, a new authorization to be approved by the Annual General Meeting of the Company.

The completion of the transaction is subject to Impolin AB amending one of its material agreements on terms and conditions satisfactory to Navamedic, in addition to certain customary conditions. It is expected that the transaction will be completed during Q2 2022.

Go to press release

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American Laboratory Products Company Merges with GeneProof

Ampersand

American Laboratory Products Company Merges with GeneProof

SALEM, N.H. and BRNO, Czech Republic, April 21, 2022 /PRNewswire/ — American Laboratory Products Company, Ltd. (“ALPCO”), a specialty in vitro diagnostics company, today announced a merger with GeneProof a.s. (“GeneProof”), a leading molecular diagnostics company based in Brno, Czech Republic. The combination creates a global market leader in the diagnostic products market, with broad capabilities spanning novel immunoassay testing kits, real-time PCR testing products, and automated laboratory instrumentation solutions.

GeneProof was founded over 15 years ago by Drs. Radek Horvath and Milos Dendis and is an established market leader in the molecular diagnostics field. Both Founders will remain with the merged company and continue as significant shareholders. GeneProof is the largest producer of PCR reagents in the Czech Republic and distributes its portfolio of more than 70 CE-marked molecular diagnostic tests and instruments throughout Europe, Africa, the Middle East, and South America. Products are primarily focused on the infectious and genetic diseases. With a strong emphasis on quality, GeneProof offers technologically advanced real-time PCR kits and user-friendly automated instrument platforms for both nucleic acid extraction and sample-to-answer testing that meet the diverse throughput needs of laboratories.

The combined company is majority owned by Ampersand Capital Partners (“Ampersand”), which first invested in ALPCO in 2020.

“ALPCO and GeneProof have both earned great reputations in their respective markets, ALPCO in immunodiagnostics and GeneProof in molecular diagnostics,” said Sean Conley, President and CEO of ALPCO. “The combination of the two companies transforms both organizations into a more complete solutions provider and aligns well with ALPCO’s strategy of investing in proprietary automated platforms.”

Radek Horvath, CEO of GeneProof, added, “This strategic connection represents a new chapter in the life of both companies. It will facilitate the entry of GeneProof products into the US market, and similarly, expand the presence of ALPCO products into the EU and around the world. The combination of deep knowledge in the field of molecular diagnostics as well as in the field of immunological diagnostics will bring a significant synergistic effect. The two merged companies intend to use each other’s technological experience and rely on the support of our strong partner, Ampersand, for further development.”

Eric Lev, General Partner at Ampersand and Board member of ALPCO added, “I look forward to working with Sean, Radek, and Milos as we build the combined company into a fully integrated global leader in the field of diagnostics and commercialize GeneProof’s fully automated real-time PCR offerings in the North American market.”

About ALPCO

American Laboratory Products Company (ALPCO) was founded in 1991 as an importer and distributor of immunoassay-based products for the North American life science markets. The company has since evolved into a leading producer of novel immunodiagnostic reagents for specialty testing laboratories. In September of 2020, ALPCO announced the recapitalization of the company by Ampersand Capital Partners. Ampersand’s investment was sought to accelerate ALPCO’s global growth initiatives, including the expansion of the company’s diagnostics reagent offering, broadening the company’s geographic presence, and fueling technological advancement. For additional information, please visit www.alpco.com.

About GeneProof

Based in Brno, Czech Republic, GeneProof a.s. was founded in 2005 by Dr. Radek Horvath and Dr. Milos Dendis. GeneProof offers a wide range of in vitro molecular diagnostic products, primarily focused on the infectious diseases and genetic mutations. The Company has established a portfolio of more than 70 CE-marked PCR test kits and a proprietary instrumentation offering to serve laboratories of all sizes. GeneProof’s sales and distribution network covers more than 60 countries around the world. For detailed information see www.geneproof.com.

About Ampersand Capital Partners

Founded in 1988, Ampersand is a middle market private equity firm with more than $2 billion of assets under management dedicated to growth-oriented investments in the healthcare sector. With offices in Boston and Amsterdam, Ampersand leverages its unique blend of private equity and operating experience to build value and drive superior long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of the firm’s core healthcare sectors. Additional information about Ampersand is available at ampersandcapital.com.

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GBL acquires a majority stake in Sanoptis, a European leader in ophthalmology clinics, to accelerate the company’s growth in partnership with its management and doctors

GBL

Groupe Bruxelles Lambert (“GBL”) has signed definitive agreements to acquire a majority stake in Sanoptis,
a leading network of ophthalmology clinics across Germany and Switzerland, from Telemos Capital (“Telemos”). GBL
is committing up to EUR 750 million in equity for this transaction. As part of the transaction, the incumbent
management will increase its stake in the company by way of a substantial reinvestment. GBL and management plan
to continue together the impressive growth story of Sanoptis, both in existing markets as well as in new, attractive
European geographies.

Founded in 2018, Sanoptis has rapidly grown to become the second largest European ophthalmology services provider
with over 250 facilities, serving both publicly and privately insured patients. For GBL and management, the ambition
will be to continue Sanoptis’ growth organically and through acquisitions. The company will remain focused on
adhering to the highest quality standards while delivering essential medical services of the highest grade to the
German and Swiss population in partnership with local regulators and payors. Further growth will increase the depth
and breadth of these high-quality services.
Sanoptis has a unique business model; it targets active partnerships with leading surgeons who remain shareholders
in their clinics after joining the Sanoptis group. Within its network, Sanoptis drives growth by: (i) sharing medical and
other best practices while preserving the doctors’ autonomy and (ii) implementing cutting-edge medical innovations
while investing in top-notch equipment. GBL strongly believes in this partnership model and envisions to further
grow Sanoptis along the same strategy.

This transaction marks GBL’s second consecutive private investment in the healthcare sector in 2022. Healthcare is one
of GBL’s four focus investment sectors, along with consumer experience, technology and sustainability. The Sanoptis
transaction also corresponds to GBL’s ambition to increase the representation of controlled private and alternative
assets within its portfolio. The group’s long-term objective is that private and alternative investments account for
approximately 40% of its portfolio (versus 25% as of end 2021).
Ian Gallienne, CEO of GBL, commented: “As a private asset in the highly-attractive healthcare sector, Sanoptis is an excellent
fit with our investment strategy. Together with management, we look forward to further solidifying Sanoptis’ leadership positions
in its core markets as well as expanding into other European countries.”
Michal Chalaczkiewicz, GBL Investment Partner, added: “Sanoptis is at the forefront of the ophthalmology field, which is
supported by long-term, resilient growth, underpinned by secular trends. We believe Sanoptis’ unique partnership model with
doctors is its most important asset, which will support the continuation of its impressive growth trajectory.”
Jens Riedl, GBL Investment Partner responsible for the DACH region, stated: “After our acquisition of Canyon,
the fast-growing direct-to-consumer manufacturer and seller of premium bicycles, Sanoptis is our second private investment in
DACH, where we have the opportunity to team up with an exceptional team of entrepreneurs.”
For Volker Wendel, Founder and CEO of Sanoptis: “We are excited to continue our success story with a strong and
sustainable partner who fully supports our doctor-oriented culture and entrepreneurial strategy. Continuing business in the same
way as we did in the last four years, we see a lot of potential for future growth in DACH and other European countries. That’s
why management remains fully committed and will substantially increase its stake in the company.”
GBL has been advised by Goldman Sachs, Bain & Company, EY and Kirkland & Ellis.

Delivering meaningful growth
Privileged and regulated information – April 20, 2022 // Page 2 / 2 // For more information: www.gbl.be
The transaction is expected to be completed in the second quarter of 2022.
For more information, please contact:
Xavier Likin Alison Donohoe
Chief Financial Officer Head of Investor Relations
Tel: +32 2 289 17 72 Tel: +32 2 289 17 64
xlikin@gbl.be adonohoe@gbl.be

About Sanoptis
Sanoptis is a leading German and Swiss ophthalmology services provider with approximately EUR 300 million of
revenue in 2021. Founded in 2018 by CEO Volker Wendel and CDO Carsten Horn, Sanoptis has rapidly grown to
become a leading European ophthalmology services provider, with over 250 facilities across Germany and
Switzerland, serving both publicly and privately insured patients. The company offers both conservative
ophthalmology consultations and surgical treatments including cataract surgeries, intravitreal operative medicine
injections (IVOM), laser eye surgeries and retina surgeries. Sanoptis performs over 1.3 million consultations and
170,000 surgical procedures annually, while adhering to the highest standards of healthcare through its leading
doctor base and thorough quality management.

About Telemos Capital
Telemos comprises a team of highly experienced investment professionals that combine the best of private equity
and permanent capital. Founded in 2017, Telemos identifies and supports exceptional management teams in
consumer goods, healthcare services, and business services to help them realise their long-term objectives. As a
flexible and nimble investor, Telemos’ distinct structure and expertise make it a leading, new generation European
private equity firm, looking to identify and unlock attractive opportunities for growth and value creation.

About Groupe Bruxelles Lambert
Groupe Bruxelles Lambert (“GBL”) is an established investment holding company, with over sixty years of stock
exchange listing, a net asset value of EUR 22.5 billion and a market capitalization of EUR 15.3 billion at the end of
December 2021. GBL is a leading investor in Europe, focused on long-term value creation and relying on a stable and
supportive family shareholder base. GBL is both a responsible company and investor and perceives ESG factors as
being inextricably linked to value creation.
GBL strives to maintain a diversified high-quality portfolio of listed and private assets as well as alternative
investments (through Sienna Investment Managers, the group’s alternative investment platform), composed of
international companies that are leaders in their sectors, to which it can contribute to value creation by being an
active, supportive and professional investor.
GBL is focused on delivering meaningful growth by providing attractive returns to its shareholders through a
combination of growth in its net asset value, a sustainable dividend and share buybacks.
GBL is listed on the Euronext Brussels stock exchange (Ticker: GBLB BB; ISIN code: BE0003797140) and is included
in the BEL20 index

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Reema Health Secures $8 Million in Seed Funding Round

New Stack Ventures

Investments in breakthrough community-based health technology platform top $10 million to date.

April 11, 2022 · Portfolio Company

Reema Health, a community-based health technology platform, recently earned $8 million in a funding round led by MaC Venture Capital and DNA Capital. Combined with a previous $1.25 million pre-seed round and earlier preliminary investments, Reema’s has raised over $10 million to date.

58% of low-income Americans report being socially isolated, a factor that impacts their overall health and significantly increases the cost of care. Reema transforms how people navigate the gaps between health care and social care by combining advanced technology with human interaction. Reema’s personalized, community-based approach engages people via Community Guides with a personal understanding of their lives, their crucial needs, and the most impactful resources available. Reema’s technology platform empowers Guides to be more effective, helping them rapidly establish the kind of deep trust proven to promote better health outcomes.

“Technology solutions can create more efficient, and more informed outreach but they can’t build authentic relationships that drive real engagement,” said Justin Ley, CEO of Reema.

“Our experienced Community Guides work one-on-one with the most underserved people in their communities when it comes to social care. It’s the latest data science combined with empathic, in-person relationships, a powerful combination that builds trust fast.” Ley added the inspiration for Reema came from his own personal experiences growing up.

Reema is currently serving health plans throughout the East Coast and Midwest, with plans to expand to several more states this year. The company’s current programs are already reporting member engagement rates of 84% or more, a metric that proves its breakthrough approach is successfully reaching many people who, before Reema, were living without the social care that significantly improves their lives, and the overall health of their communities.

“Health plans, providers and other intermediaries have realized that piling on more and more clinical and social resources barely moves the needle when it comes to driving desirable health outcomes for marginalized, low income population,” said Partha Mishra, Partner at DNA Capital. “Acting as a catalyst, combining technology and human insights, and partnering with existing players, Reema has instead demonstrated that a personalized, community centric approach to build bridges with each member first makes the entire system come alive.”

About Reema:

Reema uses technology to power human relationships with the goal of improving health outcomes for people who are hardest to reach. Reema’s breakthrough health platform uses proprietary technology and predictive data modeling to identify people with the highest level of unmet social needs, and power Community Guides with the right information to engage them meaningfully, connect them with the most relevant resources, and improve their health and their lives. For more information visit ReemaHealth.com.

 

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