Tag Archives: healthcare

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.

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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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CNSI and Kepro Announce Merger to Create Leading Healthcare Solutions Company

Apax
8th November 2022

Combined company to drive improvements in health outcomes through technology enablement, data analytics, and clinical expertise

McLean, VA, and Nashville, TN, November 9, 2022 – CNSI, a leading provider of innovative healthcare technology products and solutions, and Kepro, a leading provider of technology-enabled care management, quality oversight, and clinical assessment services announced an agreement to merge. The combined company will help government-sponsored healthcare agencies and payers expand healthcare access, enhance quality, improve health outcomes, and lower costs through its clinical services, provider management, health claims and encounter processing, interoperability, and health analytics services and solutions. CNSI is backed by funds advised by global investment firm Carlyle (NASDAQ: CG), and Kepro is a portfolio company of funds advised by Apax Partners LLP (“Apax Funds”), which will be exiting its investment through this transaction.

Todd Stottlemyer, CNSI’s CEO, will lead the new company. Susan Weaver, MD, Kepro’s President and CEO, will become President. Both leaders will sit on the company’s board of directors.

“The combination of CNSI and Kepro aligns with the strategic objectives of both companies to deploy technology-enabled products, solutions, and services that help our clients achieve their mission and better serve their priority populations,” said Stottlemyer. He added: “I am excited about our ability to provide a full array of services and solutions that will help our clients meet the holistic health needs of those they serve.”

“Healthcare is changing rapidly, and we believe the combination of our capabilities will help our clients meet and adapt to these changes,” said Dr. Weaver. “Kepro gains a partner with extensive large-scale, systems implementation experience, and CNSI gains a partner with deep clinical expertise. Together our employees will also benefit with new opportunities to diversify their skillsets and advance their careers,” Weaver added.

Dayne Baird, CNSI Board Member and Managing Director at Carlyle, said: “We are incredibly excited by the combination of these two highly differentiated businesses and the opportunity to partner with Todd, Susan, and their talented leadership teams. The combination brings CNSI’s leading health technology capabilities together with Kepro’s clinical expertise and unique service offerings, allowing the company to better serve its clients and improve care quality and health outcomes.”

Andrew Cavanna, Kepro Board Member and Partner at Apax, said: “We are proud to have supported Kepro in its evolution over the past five years. Through the leadership of Susan and her management team, the business grew its capabilities and the value it delivers to its customers. We wish the combined company every success in the future.”

CNSI is headquartered in McLean, VA, and Kepro is headquartered in Nashville, TN. Both locations will be maintained. The newly merged company will rebrand in early 2023.

The new company is backed by Carlyle (NASDAQ: CG), a global investment firm. Latham & Watkins LLP acted as legal advisor to CNSI and Carlyle. Centerview Partners acted as an investment advisor to Kepro and Apax, and Kirkland & Ellis served as legal advisor to both Kepro and Apax. The transaction is expected to close in December 2022, subject to customary closing conditions.

 

About CNSI

CNSI delivers a broad range of health information technology enterprise solutions and products to a diverse base of state and federal agencies in the United States that help clients achieve their mission, enhance business performance, reduce costs, and improve the health of individuals and communities. Headquartered in McLean, VA, CNSI’s global workforce includes 1,200 employees, including a world-class team of technologists, program managers, and subject matter experts with large-scale, mission-critical information technology implementation experience.

About Kepro

Founded in 1985 by physicians, Kepro provides technology-enabled services for priority populations to help them remain in the home or community of their choice. Kepro partners with government and private healthcare payers to maximize healthcare quality, improve accuracy, and increase efficiency. The company’s three core solution lines, care management, quality oversight, and assessments and clinical eligibility, ensure that clients’ beneficiaries receive the right care delivered in the right place at the right time. Kepro’s workforce numbers over 1,700 employees, including 600 full-time clinicians, across 17 U.S.-based offices, as well as a network of 4,500 physicians and 450 clinicians who serve on their advisory and review panels.

About Carlyle

Carlyle (NASDAQ: CG) 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 Apax

Apax Partners LLP (“Apax”) is a leading global private equity advisory firm. For 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $60 billion. The Apax Funds invest in companies across four global sectors of Tech, Services, Healthcare, and Internet/Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For further information about Apax, please visit www.apax.com.

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CNSI and Kepro Announce Merger to Create Leading Healthcare Solutions Company

Apax

Combined company to drive improvements in health outcomes through technology enablement, data analytics, and clinical expertise

McLean, VA, and Nashville, TN, November 9, 2022 – CNSI, a leading provider of innovative healthcare technology products and solutions, and Kepro, a leading provider of technology-enabled care management, quality oversight, and clinical assessment services announced an agreement to merge. The combined company will help government-sponsored healthcare agencies and payers expand healthcare access, enhance quality, improve health outcomes, and lower costs through its clinical services, provider management, health claims and encounter processing, interoperability, and health analytics services and solutions. CNSI is backed by funds advised by global investment firm Carlyle (NASDAQ: CG), and Kepro is a portfolio company of funds advised by Apax Partners LLP (“Apax Funds”), which will be exiting its investment through this transaction.

Todd Stottlemyer, CNSI’s CEO, will lead the new company. Susan Weaver, MD, Kepro’s President and CEO, will become President. Both leaders will sit on the company’s board of directors.

“The combination of CNSI and Kepro aligns with the strategic objectives of both companies to deploy technology-enabled products, solutions, and services that help our clients achieve their mission and better serve their priority populations,” said Stottlemyer. He added: “I am excited about our ability to provide a full array of services and solutions that will help our clients meet the holistic health needs of those they serve.”

“Healthcare is changing rapidly, and we believe the combination of our capabilities will help our clients meet and adapt to these changes,” said Dr. Weaver. “Kepro gains a partner with extensive large-scale, systems implementation experience, and CNSI gains a partner with deep clinical expertise. Together our employees will also benefit with new opportunities to diversify their skillsets and advance their careers,” Weaver added.

Dayne Baird, CNSI Board Member and Managing Director at Carlyle, said: “We are incredibly excited by the combination of these two highly differentiated businesses and the opportunity to partner with Todd, Susan, and their talented leadership teams. The combination brings CNSI’s leading health technology capabilities together with Kepro’s clinical expertise and unique service offerings, allowing the company to better serve its clients and improve care quality and health outcomes.”

Andrew Cavanna, Kepro Board Member and Partner at Apax, said: “We are proud to have supported Kepro in its evolution over the past five years. Through the leadership of Susan and her management team, the business grew its capabilities and the value it delivers to its customers. We wish the combined company every success in the future.”

CNSI is headquartered in McLean, VA, and Kepro is headquartered in Nashville, TN. Both locations will be maintained. The newly merged company will rebrand in early 2023.

The new company is backed by Carlyle (NASDAQ: CG), a global investment firm. Latham & Watkins LLP acted as legal advisor to CNSI and Carlyle. Centerview Partners acted as an investment advisor to Kepro and Apax, and Kirkland & Ellis served as legal advisor to both Kepro and Apax. The transaction is expected to close in December 2022, subject to customary closing conditions.

 

About CNSI

CNSI delivers a broad range of health information technology enterprise solutions and products to a diverse base of state and federal agencies in the United States that help clients achieve their mission, enhance business performance, reduce costs, and improve the health of individuals and communities. Headquartered in McLean, VA, CNSI’s global workforce includes 1,200 employees, including a world-class team of technologists, program managers, and subject matter experts with large-scale, mission-critical information technology implementation experience.

About Kepro

Founded in 1985 by physicians, Kepro provides technology-enabled services for priority populations to help them remain in the home or community of their choice. Kepro partners with government and private healthcare payers to maximize healthcare quality, improve accuracy, and increase efficiency. The company’s three core solution lines, care management, quality oversight, and assessments and clinical eligibility, ensure that clients’ beneficiaries receive the right care delivered in the right place at the right time. Kepro’s workforce numbers over 1,700 employees, including 600 full-time clinicians, across 17 U.S.-based offices, as well as a network of 4,500 physicians and 450 clinicians who serve on their advisory and review panels.

About Carlyle

Carlyle (NASDAQ: CG) 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 Apax

Apax Partners LLP (“Apax”) is a leading global private equity advisory firm. For 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $60 billion. The Apax Funds invest in companies across four global sectors of Tech, Services, Healthcare, and Internet/Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. For further information about Apax, please visit www.apax.com.

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Lumanity Expands U.S. Life Sciences Consulting Capability with the Acquisition of Clarion

Arsenal Capital Partners

Enhanced strategic consulting capabilities supporting products throughout their lifecycles

November 8, 2022

New York, NY- Lumanity, a global leader in accelerating and optimizing access to medical advances, announced the acquisition of Clarion Healthcare (“Clarion”), a Boston-based life science consultancy with a 20-year history of being a trusted advisor for biopharma clients in solving their most complex commercialization and product lifecycle challenges, from Svoboda Capital Partners. Lumanity is a portfolio company of the private equity firm, Arsenal Capital Partners. The terms of the acquisition were not disclosed.

The addition of Clarion strengthens Lumanity’s global consulting practice, bringing significant scale in the U.S. and complementing Lumanity’s existing experts in both the U.S. and Europe. Clarion and Lumanity’s combined capabilities create a global leader in the development and execution of successful commercialization strategies for biopharma companies’ increasingly complex asset portfolios.

Clarion’s deep scientific and commercial expertise throughout the product lifecycle and in nearly all therapeutic categories has allowed it to partner effectively with clients to tackle mission-critical strategic challenges at the asset, portfolio, and enterprise level. More specifically, Clarion works with clients to:

  • Evaluate the potential for early-stage assets and portfolios, especially in markets undergoing disruption,
  • Shape products and markets to enable successful product introduction, and,
  • Evolve functional and organizational capabilities to address the rapidly changing requirements for new product commercialization and value demonstration.

Jon Williams, the CEO of Lumanity, said, “Clarion is an exceptional addition to Lumanity. Clarion’s impressive team, specialized capabilities, and strong client relationships, significantly strengthen our ability to support the commercialization of our clients’ assets, ensuring patients get access to the right treatments.”

“We look forward to joining forces with Lumanity on our next chapter of growth,” stated Tom Murtagh, Co-founder of Clarion. “We believe Lumanity shares a similar mission-oriented culture and commitment to its clients and its employees. Together, we are eager to disrupt standard thinking regarding commercialization choices and build a more sustainable model to deliver true innovation to the healthcare ecosystem.”

Lumanity was formed by bringing together the expertise and capabilities of several exceptional organizations, including Cello Health, BresMed, Guidemark Health, Cyan Health, Zipher Medical Affairs, Innovative Edge, and Endpoint Outcomes. The addition of Clarion further enhances Lumanity’s unique and diverse collection of deeply experienced industry pioneers, data luminaries, subject matter experts, and proven problem solvers with advanced clinical, scientific, and functional capabilities.

SVB Securities served as a financial advisor to Lumanity in the transaction.

About Lumanity

Lumanity applies incisive thinking and decisive action to cut through complex situations and deliver transformative outcomes to accelerate and optimize access to medical advances. By transforming data and information into real-world insights and evidence, Lumanity powers successful commercialization and empower patients, providers, payers, and regulators to take timely and decisive action. With offices in North America, the United Kingdom, Europe, and Asia, and work conducted in over 50 countries, its 1,200+ experts work with nearly all the top pharmaceutical and more than 100 biotech companies around the world. Turning aspiration into reality, Lumanity supports over 50 payer submissions across 20+ countries, launch readiness and commercialization of 80 brands and new indications, and numerous award-winning product campaigns every year. For more information, please visit lumanity.com and connect with Lumanity on Twitter and LinkedIn

About Clarion

Clarion is a life sciences strategy and organizational consultancy that works together with its clients to envision, craft, and enable growth through scientific and commercial innovation and leadership. Across therapeutic categories, Clarion collaborates deeply with its clients to tackle their most complex cross-functional business challenges and decisions throughout the product and company lifecycle. From start-up to global multinational companies, Clarion helps assemble and deliver on inspired strategies that require creativity, insight, and collaboration. Clarion builds leaders in the life sciences. Based in Boston, Massachusetts, Clarion was founded in 2003. For more information, visit www.clarionhealthcare.com and follow us on Instagram and LinkedIn.

About Svoboda Capital Partners

Svoboda Capital Partners is a Chicago-based private equity firm with over $400 million of capital under management. Founded in 1998, Svoboda identifies, invests in, and helps build excellent businesses in its targeted business niches of business services and value-added distribution. The firm typically makes investments of $10 to $20 million per company in partnership with management teams.

CONTACT for Lumanity:
Peter Marangos
+1 702 776 0985 / peter.marangos@lumanity.com

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Arsenal Capital Partners Increases Investment in Global Biosimulation Leader Certara with $449M Stock Purchase

Arsenal Capital Partners

rsenal will acquire approximately 30M shares at $15 per share from funds controlled by EQT Private Equity and agrees to two-year lock-up on sale of shares

November 7, 2022

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, has committed to make a new $449M investment in Certara. Arsenal currently owns approximately 4% of common shares outstanding and will acquire approximately 30M additional shares from funds controlled by EQT Private Equity (“EQT”), at a price of $15 per share. Upon closing of the transaction, which is subject to HSR regulatory approval, Arsenal will own approximately 22% of diluted shares outstanding.

Arsenal is deeply familiar with Certara’s value proposition for all stakeholders. The firm previously held a majority stake in the company before selling a controlling interest to EQT in 2017. Arsenal continued to maintain a minority equity interest both before and after Certara’s initial public offering in 2020.

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 approval, reflecting Arsenal’s commitment to being a long-term shareholder. Arsenal will also have the right, subject to maintaining certain ownership percentages, to nominate up to two board members, including current board member Stephen McLean. Following the closing of the transaction, Arsenal Operating Partner David Spaight is expected to join the board, and current board members Eric Liu and Ethan Waxman of EQT will step down from the board.

“We are pleased to further enhance our long-term-oriented shareholder base via a significant new investment from Arsenal,” said William F. Feehery, Chief Executive Officer of Certara. “Arsenal has been invested in Certara for almost a decade, is confident in the critical role of biosimulation within drug discovery and development, and shares in our strategic vision for the business. I also want to thank EQT for its leadership and strategic partnership since 2017, highlighted by the company’s IPO in 2020.”

Stephen McLean, a Senior Partner of Arsenal, said, “This transaction reflects our long-term advocacy for, and conviction in, the strategic importance of biosimulation in drug development. It also reflects our belief in the long-term prospects of Certara, our admiration for William Feehery’s leadership, and our trust in the entire Certara management team. We look forward to our continued partnership with Certara and to further supporting its efforts to enable more efficacious development of therapies and cures for human disease.”

Eric Liu, Partner, Head of North American Private Equity, and Co-Head of the Global Healthcare Sector Team at EQT, added, “EQT is proud to have been part of Certara’s remarkable journey during the last five years. We would like to thank the management team for their trusted partnership. EQT is confident that Arsenal will continue to be a great shareholder as Certara builds on its strong momentum, and we look forward to the company’s continued success.”

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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Corus grows in Spain with the acquisition of two laboratories in Seville and Madrid

Careventures

Corus added to its network the Manuel Peña Capuz laboratory in Seville and the Villadental center in Madrid, located in San Sebastián de los Reyes.

Corus goes on and on. The Spanish group of dental laboratories continues with its commitment to growth in Spain and has acquired two new laboratories in Seville and Madrid. The company based in Sant Cugat del Vallès (Barcelona) has integrated into its network the Manuel Peña Capuz laboratory, a center specialising in dental prostheses located on Martínez de Medina street in Seville. The facility works with fixed, removable and combined prostheses. In addition, Corus has integrated into its network the Villadental laboratory, directed by Ignacio Villafáñez, which is located on Calle Gomera in San Sebastián de los Reyes (Madrid). The two facilities work together to offer their products to clinics and professionals in the dental sector.

Corus has recently strengthened its position in Northern Europe with the acquisition of Nordentic.

Corus is a Barcelona-based company specialised in dental prosthetics and orthodontics. Since its creation in 2015, the company has integrated dental prosthetic laboratories distributed between Spain, France and Portugal, mainly. Corus operates as an integrated digital platform where dentists can interact with the local laboratory and the patient at the same time, guaranteeing prescription traceability and the necessary information to realise products and services tailored to the patient. Corus’ main shareholders are Careventures and Quadrum Capital. The former is a Private Equity firm with offices in Barcelona and Brussels, specialised in investments in healthcare services. Careventures has accumulated more than one hundred transactions in ten different countries, with more than 6,000 employees in the companies it manages. Quadrum Capital is a Private Equity firm with offices in Woerden and Almelo, both in the Netherlands.

The company aims to close 2022 with a turnover of €180m.

Last August, Corus acquired Nordentic, a Scandinavian company that operates in the same sector, but in Sweden, Norway and Denmark. The purchase followed another operation that the Spanish company carried out in March 2022, when Corus acquired the Dutch company Signadens. With all the operations carried out, Corus will together manage a network of more than 60 laboratories and more than 1,500 employees. The company started the year aiming for a turnover of €100m euros in 2022, but now the forecast is around €180m. This would mean doubling the turnover with which it started the year, with €73m.

The link to the article can be found here.

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Nordic Capital and Five Arrows to sell The Binding Site, a global leader in specialty diagnostics

Nordic Capital

The Binding Site has grown significantly under Nordic Capital’s and Five Arrows’ ownership, creating an industry leader in oncology testing for detection and monitoring of Multiple Myeloma

OCTOBER 31 2022

Nordic Capital and Five Arrows have entered into a definitive agreement to sell The Binding Site, a global leader in specialty diagnostics, to Thermo Fisher Scientific (NYSE:TMO), the world leader in serving science. The transaction is valued at GBP 2.25 billion. Since the acquisition of The Binding Site in 2011, the business has made an impressive transformation from a founder-led research-based organisation to a leader in delivering innovative medical solutions that improve the detection, diagnosis and management of blood cancers and immune system disorders.

The transformation has been achieved by significant investments into its technology, growth and with a dedicated focus on R&D to support research and drive improved clinical outcomes. Since 2011, The Binding Site has grown fivefold with revenues amounted to approximately GBP 200 mn in 2022 and more than 40 million tests sold on a global scale. The Binding Site’s Freelite® offering is widely recommended for Multiple Myeloma diagnosis and monitoring across multiple stages of the disease by many major clinical diagnosis and treatment guideline publications. By joining Thermo Fisher Scientific, the world leader in serving science, The Binding Site will be even better positioned to accelerate scientific discovery and expand its product offering.

“We are proud to have partnered with The Binding Site. Their cutting-edge technology and innovative specialty diagnostic solutions improve millions of patient lives globally. During Nordic Capital’s ownership the company has experienced strong growth and transformation, achieved by a dedicated focus on R&D investment, commercial focus and global expansion. We are grateful to The Binding Site team, for their dedication and for building strong scientific foundations which support the changing needs of patients and clinicians. This transaction marks the culmination of a very successful partnership, a successful outcome for Nordic Capital’s investors and the start of an exciting next phase for the Binding Site,” says Dr Raj Shah, Partner and Head of Healthcare, Nordic Capital Advisors and Jonas Agnblad, Partner, Nordic Capital Advisors and Board Member, The Binding Site.

“The Binding Site has always been a pioneer in the field of protein diagnostics, which has helped create an exceptional following with key opinion leaders in cancer treatment and strong customer loyalty. It has been a great privilege for us to work with Stefan and his management team and we have every confidence that The Binding Site will continue to thrive under the ownership of Thermo Fisher Scientific,” says Javed Khan, Managing Partner of Five Arrows.

“We have enjoyed and benefitted greatly from our long-standing partnership with Nordic Capital and Five Arrows and their sustained active support over the years to help us to realise our vision and deliver for our customers and patients. Their supportive approach to investments in R&D, coupled with deep insights and expertise in healthcare has resulted in a consistent long-strategy focused on growth. This transaction marks the beginning of a new and exciting chapter for The Binding Site,” says Stefan Wolf, CEO, The Binding Site.

Nordic Capital has been the majority owner of The Binding Site since 2011 when it completed the acquisition together with Five Arrows. The transaction, which is expected to be completed in the first half of 2023, is subject to customary closing conditions, including regulatory approvals.

Media contact:

Nordic Capital
Katarina Janerud, Communications Manager
Nordic Capital Advisors
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com

 

“Nordic Capital” refers to, depending on the context, any, or all, Nordic Capital branded entities, vehicles, structures and associated entities. The general partners and/or delegated portfolio managers of Nordic Capital’s entities and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors”

 

About 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

 

About Five Arrows

Five Arrows is the alternative assets arm of Rothschild & Co and has €22 billion of AuM with offices in Paris, London, New York, Los Angeles, San Francisco and Luxembourg. With over €8 billion of assets under management, the corporate private equity business of Five Arrows is focused on investing in companies with highly defensible market positions; strong management teams; business models with high visibility of organic unit volume growth and strong unit economics; and multiple operational levers that can be used to unlock latent value. Sectors are limited to data and software, technology-enabled business services and healthcare.

https://www.rothschildandco.com/en/merchant-banking/corporate-private-equity/

 

About The Binding Site

The Binding Site is a global specialist protein diagnostics company engaged in the research, development, manufacture and distribution of innovative tests used for the detection of cancers and immune disorders. It is a business centered on the idea of working in collaboration with its partners and customers to lead the way in specialised medical diagnostics. The Company is headquartered in Birmingham, UK and has a direct presence in over 23 countries, employing over 1,100 people worldwide. Read more on www.bindingsite.com

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August Equity announces significant investment in OneTouch, including acquisition of tri.x

August Equity

August Equity has announced its investment into OneTouch. Led by founder and CEO Dermot Clancy, OneTouch is an end-to-end care management software platform that supports the management of all care delivery needs, from client and carer scheduling, HR management, incident tracking, care planning and family communications for care providers across Ireland and the UK.

August’s investment provides funding for the business to support its ambitious growth plans, including investment into sales and marketing, further product development and funding for strategic acquisitions that bring highly complementary software and service offerings to the group to benefit OneTouch’s customer base of care providers, including homecare agencies, care homes, local authorities and specialist care providers. Dr Sati Sian joins the board as Chairman, bringing a depth of experience across the technology and healthtech space.

As part of the investment, OneTouch has acquired Signis Limited, which trades under the tri.x brand and has been carved out from BGF-backed Antser Holdings. Tri.x is the market leader in the provision of effective online adult and children’s social care procedures solutions, supporting all Local Authorities and a number of independent care providers across England, and provides a highly complementary content-based offering to OneTouch’s software platform.

OneTouch and tri.x together offer care organisations a wealth of content, functionality and digital tools to support carers to deliver the highest quality care to clients, communicate easily with clients and families and ensure that carers have the maximum visibility and flexibility over their work schedules.

Christian Dubé and Katie Beckingham, August Equity, commented, “We are delighted to have invested in OneTouch and tri.x, bringing together two unique and valuable businesses in the care sector, at a time when digitisation and technology is at the forefront of care delivery. At August, we have a long history of investing in social care businesses and understand the challenges faced by the sector and the benefit that a truly end-to-end care management platform and compliance platform can bring to care providers. We look forward to working with Dermot, Sati and the team to continue the strong growth of the business to date.”

Dermot Clancy, CEO of OneTouch, said, “We are really excited for the next stage of OneTouch’s growth with August’s backing and experience scaling businesses and delivering acquisitions. Bringing tri.x into the OneTouch group provides our customers with a fantastic resource of policies, procedures and best-practice handbooks, which is a great addition to the software offering and functionality that we have built to support them in delivering the highest quality and most efficient care to their clients.”

Dr Sati Sian, Chairman of OneTouch, added, “Given the already proven unique assets that OneTouch and tri.x bring to the care sector, combined with August’s successful history of supporting businesses in the sector, I am really looking forward to working with Dermot and his excellent management team in driving OneTouch to its next stage of growth.”

August Equity was advised by CMS (legal), KPMG (financial and tax), CIL (commercial), Lockton (insurance), and Xaeus Blue (technology).

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Gimv partners with the founders of Les Psy Réunis group to develop a leading outpatient mental care provider in Switzerland

GIMV

Topic: Investment

Gimv has invested alongside the founders of the Les Psy Réunis. This investment is aimed at accelerating the development of a network of mental care centers across Switzerland and strengthening its organisation to face the upcoming regulatory changes in the sector. 

Created in 2018 by Doctors Elizabeth and Andrei Cicotti, Les Psy Réunis has established a strong position in the outpatient mental care space in Switzerland. In 2021, the Group’s psychiatrists and psychologists have provided more than 50,000 consultations to patients.

Les Psy Réunis is one of the most dynamic players in its market. Under the leadership of its founders, it has set up a model of group practices preserving the independence of doctors whilst matching the effectiveness of more integrated models. Since inception, it has experienced very strong organic growth and aims to consolidate its market through an efficient operating organisation based on two pillars, quality of care and a strong appeal to treatment providers.

Today the group runs five centres in Geneva and has more than 80 therapists. In partnership with leading doctors, it plans to pursue its growth in its core market as well as in strategic adjacencies (eg. mental care at home, training, etc.) through both organic and external growth. To achieve this, the Group intends to draw on its talents, further develop the current infrastructure and implement its digitisation plan. In order to lead this effort, it has recently strengthened its management team through the appointment of Cédric Alfonso, former CEO of the Clinique Générale-Beaulieu, and of Apolline Eberlé who has extensive experience in supporting healthcare institutions in their digital transformation.

“Choosing the Gimv team as a partner was natural, as we share common values and the same vision for Les Psy Réunis. We were convinced by their knowledge of the healthcare sector, and their ability to provide support in strengthening the organisation and implementing a build-up strategy”, explains Andrei Cicotti, CEO of Les Psy Réunis.

“The Healthcare team has identified the strong demand-supply gap in the outpatient mental care space and has been looking to invest in players able to be part of “the solution”. We are convinced that Les Psy Réunis, created by visionary entrepreneurial doctors, is part of the answer. Our expertise in the consolidation of healthcare subsectors and implementation of ambitious digital and ESG roadmaps, combined with our long-term vision, will be key levers to realize our shared ambition. We are very proud to have been selected by the founders to support them in their development plans” says Gautier Lefebvre, Healthcare Partner at Gimv.

Kevin Klein, Healthcare Principal at Gimv adds: “Les Psy Réunis in our view constitutes an ideal platform for creating a major player in outpatient mental health care in Switzerland. The Group relies on a top-notch team which has demonstrated that its concept delivers excellent results for all stakeholders and is ready for rollout on a larger scale”.

No details are given on the financial side of the operation.

 

Read the full document

English – French – Dutch
 

Gimv

Karel Oomsstraat 37, 2018 Antwerpen, Belgium

www.gimv.com

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