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Soteria Biotherapeutics Launches with $42 Million Series A Financing Led by Roche Venture Fund and 5AM Ventures

M Ventures

SAN FRANCISCO, May 17, 2021: Soteria Biotherapeutics, Inc. (“Soteria”), a privately-held, immuno-oncology company focused on developing a next generation of switchable bispecific T-cell engagers to treat patients with solid tumor cancers, today announced a $42 million Series A financing led by Roche Venture Fund and 5AM Ventures with participation from other leading investors, including M Ventures, Novartis Venture Fund and Alexandria Venture Investments.

Soteria’s T-LITETM T-cell engagers are selectively switched on through oral administration of a small-molecule activator to modulate potent T-cell activity by controlling the timing, duration, and level of bispecific complex formation. This switchable activity enables precise on/off control over the timing and magnitude of T-cell redirection and cytotoxic activity. Unlike conventional T-cell engagers which lack a control switch and therefore are associated with significant side effects, Soteria’s T-LITE therapies are being designed to allow physicians to modulate T-cell activity to maximize efficacy while minimizing side effects.

“Soteria’s technology has the potential to revolutionize the T-cell engager field with its proprietary approach designed to control and target potent biologic immune activators to attack tumors,” said Nisha Marathe, investment director at Roche Venture Fund. “Specifically, we believe the T-LITE technology is highly differentiated, where the potent activity of a T-cell engager can be selectively switched on by small-molecule activators to direct tumor cytotoxicity and reduce cytokine release syndrome, ultimately resulting in a therapy with potentially greater safety and efficacy.”

“These funds will support the advancement of our technology and allow us to build a pipeline of T-LITE development candidates with potential in well validated cancer targets,” said Kristine Ball, chief executive officer of Soteria. “We appreciate the confidence and vision this syndicate of premier investors has shown in our opportunity to disrupt the T-cell engager field and our potential to create differentiated, potent therapies against solid tumors.”

Company Founders and Leadership
Soteria’s team of founders, management and board members brings together accomplished leaders from academia and the biopharma industry with successful track records discovering and developing therapeutics at companies such as Abgenix, Ascendis Pharma, AstraZeneca/Medimmune, Exelixis, Genentech/Roche, KAI (acquired by Amgen), Labrys (acquired by TEVA), Merck Research Laboratories, Novartis, Relypsa (acquired by Vifor) and Sunesis:

Kristine Ball, Chief Executive Officer and Member of the Board
Zachary Hill, PhD, Co-Founder and SVP, Chief Scientific Officer, and Member of the Board
Mohammad Tabrizi, PhD, VP Preclinical Development
Alex Martinko, PhD, Co-Founder and Senior Director of Protein Science
Jim Wells, PhD, Academic Co-founder, Chair of Scientific Advisory Board, and Professor of Pharmaceutical Chemistry at UC San Francisco
Steven P. James, Board Chair and Chief Executive Officer of Pionyr Immunotherapeutics
David Allison, PhD, Member of the Board and Partner at 5AM Ventures
Keno Gutierrez, PhD, Member of the Board and Vice President at M Ventures
Nisha Marathe, PhD, Member of the Board and Investment Director at Roche Venture Fund
David Morris, MD, Member of the Board and Operating Partner at Novartis Venture Fund
Momo Wu, PhD, Member of the Board and Portfolio Investment Manager at Emerson Collective

About Soteria Biotherapeutics Inc.
Soteria is developing a next generation of switchable bispecific T-cell engagers to treat cancer patients with solid tumors. Soteria’s highly innovative T-LITETM platform provides small molecule-dependent activation of bispecific antibody therapies, enabling safer and more efficacious treatments through pulsatile activity, reduced side effects and higher dosing. Soteria was founded in 2018 with technology licensed from UC San Francisco and is based in San Francisco, California. For additional information, visit www.soteriabiotherapeutics.com

Contacts:
Sylvia Wheeler
swheeler@wheelhouselsa.com
info@soteriabiotx.com

Alex Santos
asantos@wheelhouselsa.com

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PerkinElmer Expands Cell Biology Leadership with Agreement to Acquire Nexcelom Bioscience

Ampersand
Highly complementary cell counting and analysis capabilities bolster preclinical portfolio and enhance QA/QC capabilities in cell and gene therapy and biologics manufacturing

PerkinElmer logo

PerkinElmer, Inc. (NYSE: PKI) is pleased to announce it has entered into an agreement to acquire Nexcelom Bioscience for $260 Million in cash. The transaction is expected to close during the second quarter of 2021.

Nexcelom is a leading, global provider of automated cell counting instruments, image cytometry workstations, assays and a variety of cell reagents, consumables, and fit-for-purpose cell counting method selection and development instructions that follow ISO Cell Counting Standards and aid in the development of cell and gene and immuno-oncology therapies, virology drugs and vaccines.

Headquartered in Lawrence, Massachusetts, Nexcelom is founder-led, privately held and has approximately 130 employees around the world based in the U.S., the UK and China. Nexcelom’s expected 2021 revenues are approximately $40 Million.

Commenting on the transaction, Prahlad Singh, president and chief executive officer of PerkinElmer said, “We are looking forward to bringing Nexcelom’s expertise and technologies in drug development together with our passion and solutions for drug discovery. This combination will expand our efforts to help academic, government and biopharmaceutical organizations streamline their complete workflows and support efforts to accelerate time to target and time to market for novel therapies.”

Dr. Peter Li, president and chief executive officer of Nexcelom added, “Our team is very excited to be joining forces with PerkinElmer to help scientists resolve some of today’s most pressing health challenges through modernizing cell based assays using the most advanced cell models. Our organization has a deep commitment to innovation and we are looking forward to continuing to grow our technology and customer footprint in combination with PerkinElmer’s strong global presence and infrastructure.”

PerkinElmer’s existing biologics, vaccine and cell and gene research solutions feature industry-leading high content, in vivo, and cell painting screening technologies; innovative immunoassays; CRISPR, RNAi and DNA tools and custom cell lines; cell plate readers and advanced automation; microfluidics and analytical platforms.

The agreement to acquire Nexcelom comes just five months after PerkinElmer added Horizon Discovery, a leader in gene editing and modulation. To learn more about PerkinElmer’s full range of life sciences solutions, informatics and OneSource services please visit: https://www.perkinelmer.com/corporate/what-we-do/markets/life-sciences.html.

About PerkinElmer

PerkinElmer enables scientists, researchers, and clinicians to address their most critical challenges across science and healthcare. With a mission focused on innovating for a healthier world, we deliver unique solutions to serve the diagnostics, life sciences, food, and applied markets. We strategically partner with customers to enable earlier and more accurate insights supported by deep market knowledge and technical expertise. Our dedicated team of about 14,000 employees worldwide is passionate about helping customers work to create healthier families, improve the quality of life, and sustain the well-being and longevity of people globally. The Company reported revenue of approximately $3.8 billion in 2020, serves customers in 190 countries, and is a component of the S&P 500 index. Additional information is available through 1-877-PKI-NYSE, or at www.perkinelmer.com.

About Nexcelom

Nexcelom Bioscience is a Massachusetts-based developer and marketer of image cytometry products for cell analysis in life science research and drug discovery, development and manufacturing. Products range from high performance cell viability counters (Cellometer and Cellaca) to high throughput microwell image cytometry workstations (Celigo), with turnkey solutions including instruments, consumables and reagents. Founded in 2003 and currently owned by its founders and Ampersand Capital Partners, Nexcelom delivers innovative, fit-for-purpose, accurate cell counting solutions that are critical for advanced therapeutic modalities such as cell and gene therapy. The company currently employs about 130 fast-paced, customer-centric employees who are passionate about making an impact in life science.

Factors Affecting Future Performance

This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to estimates and projections of future earnings per share, cash flow and revenue growth and other financial results, developments relating to our customers and end-markets, and plans concerning business development opportunities, acquisitions and divestitures. Words such as “believes,” “intends,” “anticipates,” “plans,” “expects,” “projects,” “forecasts,” “will” and similar expressions, and references to guidance, are intended to identify forward-looking statements. Such statements are based on management’s current assumptions and expectations and no assurances can be given that our assumptions or expectations will prove to be correct. A number of important risk factors could cause actual results to differ materially from the results described, implied or projected in any forward-looking statements. These factors include, without limitation: (1) markets into which we sell our products declining or not growing as anticipated; (2) effect of the COVID-19 pandemic on our sales and operations; (3) fluctuations in the global economic and political environments; (4) our failure to introduce new products in a timely manner; (5) our ability to execute acquisitions and license technologies, or to successfully integrate acquired businesses and licensed technologies into our existing business or to make them profitable, or successfully divest businesses; (6) our failure to adequately protect our intellectual property; (7) the loss of any of our licenses or licensed rights; (8) our ability to compete effectively; (9) fluctuation in our quarterly operating results and our ability to adjust our operations to address unexpected changes; (10) significant disruption in third-party package delivery and import/export services or significant increases in prices for those services; (11) disruptions in the supply of raw materials and supplies; (12) the manufacture and sale of products exposing us to product liability claims; (13) our failure to maintain compliance with applicable government regulations; (14) regulatory changes; (15) our failure to comply with healthcare industry regulations; (16) economic, political and other risks associated with foreign operations; (17) our ability to retain key personnel; (18) significant disruption in our information technology systems, or cybercrime; (19) our ability to obtain future financing; (20) restrictions in our credit agreements; (21) discontinuation or replacement of LIBOR; (22) the United Kingdom’s withdrawal from the European Union; (23) our ability to realize the full value of our intangible assets; (24) significant fluctuations in our stock price; (25) reduction or elimination of dividends on our common stock; and (26) other factors which we describe under the caption “Risk Factors” in our most recent quarterly report on Form 10-Q and in our other filings with the Securities and Exchange Commission. We disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210512005955/en/

Contacts

Media Contact:
Jennifer McNeil
PerkinElmer, Inc.
jennifer.mcneil@perkinelmer.com
+1 508.380.2902

Investor Relations:
Steve Willoughby
PerkinElmer, Inc.
stephen.willoughby@perkinelmer.com
+1 781.663.5677

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Audax Private Equity to Sell Axia Women’s Health to Partners Group

Audax Group

Audax Private Equity (“Audax”) has announced that it has signed a definitive agreement to sell Axia Women’s Health to Partners Group on behalf of its clients.

Axia Women’s Health (“Axia” or the “Company”) is a leading women’s healthcare provider in the U.S. The Company is headquartered in Voorhees, New Jersey, and provides a highly integrated platform of non-clinical business and administrative support services such as accounting, HR, insurance, IT, and practice management services to its network of physician practices across the U.S. Axia partners with more than 80 care centers, comprising 150 locations and supporting 475,000 patients annually, which offer a wide range of care including obstetrics, gynecology, laboratory, mammography, urogynecology, fertility, and other women’s health sub-specialties. Axia is on the forefront of delivering women’s healthcare via an integrated model that treats patients across different phases of life, while supporting physicians’ clinical autonomy and ability to focus on care.

Since being formed by Audax in 2017, Axia has undergone a number of strategic growth initiatives:
•Expanded the continuum of care available to patients including investments in laboratory, mammography, urogynecology, fertility, and other capabilities in women’s health
•Developed value-based care programs, technology innovations, and care analytics to improve patients’ experience and outcomes
•Completed eighteen add-on acquisitions including expansion into the Midwest market, representing a significant step towards building a national platform

Charlie Choi, Chief Executive Officer of Axia, commented, “Over the last four years, Audax has supported our mission to create a more caring, connected, and progressive women’s healthcare community. Audax was instrumental in enabling growth, both organically and through acquisitions, while investing in key executive talent and systems to support long-term growth. We look forward to our next chapter with Partners Group to continue building sustainable value as a national women’s health platform.”

Adam Abramson, Managing Director at Audax, said, “We’ve enjoyed a terrific partnership with Charlie and the Axia team and are proud of the accomplishments they have made in improving women’s healthcare. We wish continued success to Axia as the Company embarks on the next phase of growth with their new partner.”

Moelis & Company LLC served as financial advisor and Ropes & Gray served as legal advisor to Axia.

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SYNLAB AG commences trading on the Frankfurt Stock Exchange

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Cinven

Value creation through investment in medical excellence, international expansion and consolidation

SYNLAB AG (“SYNLAB” or “the Group”), the largest European clinical laboratory and medical diagnostic services company, completed its successful listing on the Regulated Market (Prime Standard) of the Frankfurt Stock Exchange (“FSE”) on 30 April 2021. In total, 42.9 million shares were placed as part of the initial public offering. The total offer volume reached EUR 772 million with an expected free float of 19%, assuming full exercise of the Greenshoe option. At the IPO price of €18.00 per share, the implied market capitalisation was €4.0 billion, and the implied enterprise value amounted to €5.9 billion. The stock trades under the trading symbol SYAB, the German securities code (WKN) A2TSL7, and the international securities identification number (ISIN) DE000A2TSL71.

In 2015, funds advised by Cinven acquired the Germany-based SYNLAB and French medical diagnostics provider Labco at a combined enterprise value of €2.9 billion. Following the successful merger of the two companies under the joint SYNLAB brand, Cinven and co-investors Novo Holdings and Ontario Teachers’ Pension Plan Board (together “the sponsors”) supported the company on its organic and M&A-driven growth strategy. Under the leadership of Dr. Bartl Wimmer, founder of SYNLAB, and since 2018 of CEO Mathieu Floreani, SYNLAB consistently focused on a strategy of customer-centric medical excellence to drive organic growth. In a fragmented medical diagnostics market, the Group executed on more than 100 add-on transactions and expanded its presence to an additional eight countries, including market entries in Latin America and Africa. Today, the Group is active in 36 countries globally and the only player with a presence in the five largest European markets (France, Germany, Italy, Switzerland, UK). Over the past year, its scale and flexibility enabled SYNLAB to quickly ramp up SARS-CoV-2 testing capacity across its markets and contribute to fighting the COVID-19 pandemic as a key part of the medical infrastructure.

SYNLAB grew its revenues to €2.6 billion in fiscal year 2020. EBITDA increased to €679 million in the same period. In addition to its considerable business success and value creation, SYNLAB also expanded its workforce to more than 20,000 employees in 2020. The Group processes more 500 million tests and assists more than 100 million patients per annum.

Commenting on the IPO, Alex Leslie, Partner of Cinven said:

“Our original investment thesis in 2015 was based on the unique opportunity to create a European leader by combining two strong platforms with an excellent regional fit. Together with our co-shareholders, we supported the transition from a great business led by founder Bartl Wimmer to an enterprise led by a new management team under the leadership of Mathieu Floreani. Mathieu and his team built on the strong strategic position of SYNLAB and further accelerated the international expansion across markets in Europe and Latin America. We fully endorsed the strategy of customer-centric medical excellence, and we are proud that SYNLAB has played an important role in fighting the COVID-19 pandemic over the past year. SYNLAB is in an excellent position to deliver on its future growth strategy and will continue to fulfil its mission of providing actionable diagnostic information for healthy lives and well-being for all.”

Christian Salling, Senior Partner at Novo Holdings, commented:

“SYNLAB has been on an impressive journey during our ownership, and management has done an outstanding job of creating a leading, international diagnostics services provider. Furthermore, SYNLAB has been at the forefront of the fight against Covid-19 since the beginning of the outbreak and quickly stepped up to face this considerable challenge. We at Novo Holdings are very proud to be part of that journey. SYNLAB is an excellent example of our strategy of investing in quality companies with strong management teams and demonstrates the strength of our engaged ownership model, that we exercised together with leading investment partners. We are very pleased with the company’s accomplishments to date and congratulate the team on this important milestone.”

Nick Jansa, Senior Managing Director for Europe, the Middle East and Africa at Ontario Teachers’ added:

“We are delighted to see SYNLAB successfully transition to the public markets under the stewardship of Cinven, Novo and Ontario Teachers’. The business has been transformed under our ownership because of numerous strategic acquisitions and other value creation initiatives. We are proud to have backed SYNLAB, which has achieved significant growth while making a vital contribution to public health efforts across the globe.”

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Gimv increases its interest in German GPNZ to further support and develop the dental platform in its growth ambitions

05/05/2021 – 07:30 | Portfolio

Gimv has increased its interest in GPNZ (Gesellschaft für Praxisnachfolge in der Zahnmedizin), a fast-growing, high-quality dental platform in Germany. In addition to a significant capital increase into the company, Gimv has acquired the shares of co-investors Cannonball® and co-founder Marcus Geier. The founder and CEO of GPNZ Roman Wachtel also participated in the capital increase. The additional resources will be used to conclude further partnerships and to continue the group’s dynamic growth path. 

The dentistry group GPNZ (Gesellschaft für Praxisnachfolge in der Zahnmedizin, Munich, – www.gpnz.de) was launched in late 2018 with the aim of becoming a leading high-quality dental chain in Germany through buy and build. In collaboration with the co-investors and the current management, GPNZ has established itself as a fast growing dental platform, having assembled a group of high quality dental practices and supported them with tailor-made development plans, backed by a strong team at the Munich headquarters as well as effective regional support.

Acquisition of high quality and successful dental practices with best-in-class dentists and staff is an essential part of GPNZ’s consolidation strategy in a large but highly fragmented market, bringing benefits for dentists, staff and patients. Dentists reduce time spent on administrative, HR, marketing or commercial tasks and can focus on their medical role. They also gain flexibility in working hours and reduce their entrepreneurial risk. Staff is supported in terms of marketing, recruiting, and invoicing. Patients benefit from a wider range of professional medical services under one roof and convenience, either through additional specialisations, greater capacity or extended opening hours. Patient satisfaction and ensuring top quartile medical quality as a minimum standard in each practice are key priorities for GPNZ.

Despite the Covid pandemic, GPNZ has maintained strong momentum, with a further nine practices coming on board or having signed in the last 15 months. The company is led by an experienced management team with expertise in various healthcare fields (compliance, dentistry, marketing, hospital management, etc.) to fully support the organic growth of the practices. Long-term mutual goal alignment is ensured by management’s co-investment into GPNZ.

In the transaction announced today, co-founders Cannonball® and Marcus Geier, both having played instrumental roles in the first phase of establishing GPNZ, will sell their shares to Gimv. Gimv and CEO Roman Wachtel are committed to a further capital contribution to the company.

Philipp v. Hammerstein, Partner at Gimv, comments: “We are very pleased with the development of the group since the start of our journey back in 2018. I wish to express my sincere thanks to Cannonball®  and Marcus Geier for their invaluable contributions in establishing the company to where we stand today. We are excited about further prospects and committed to further supporting the team and developing the group going forward.”

Dominik F. Hesse, Managing Partner at Cannonball®, adds: “We are proud of having co-founded this success story and contributed significantly to building the company being both part of the management team and financial investor. It is now the right moment for us to hand over the baton. We would like to thank Gimv and the management team for this partnership and wish them all the best for the future development of GPNZ.”

Roman Wachtel, CEO of GPNZ sums up: “We are grateful for the further commitment, as well as the ongoing reliable support, deep sector knowledge and buy and build experience contributed by Gimv. We are looking forward to the future and remain fully committed to continue GPNZ’s successful path as a leading dental platform where patients experience the highest medical standards.”

This acquisition further underpins Gimv’s position as one of the most active European investors in the healthcare industry and its ambition to positively contribute to the United Nations Sustainable Development Goals of good health and well-being. Gimv currently has 23 participations in companies in the healthcare and life sciences sector. The Gimv portfolio also includes several clinic and practice groups, as well as medical technology and biotech companies.

No further financial details on this transaction are being published.

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Confluent Medical Announces Strategic Investment in The Electrospinning Company

Ampersand
Confluent Medical Invests in The Electrospinning Company To Expand Design Options Utilized in Structural Heart Markets

Confluent Medical Technologies and Electrospinning Company logos

SCOTTSDALE, Ariz.–(BUSINESS WIRE)– Confluent Medical Technologies Inc. (Confluent) announced today a strategic investment in The Electrospinning Company Ltd. (Electrospinning).  Electrospinning, a UK-based company, has developed a proprietary electrospinning process which will expand the design options utilized in the structural heart market and fully automate the process of attaching biomedical textiles to heart valve frames.

Electrospinning Company productsImplant designs for the fast-growing, transcatheter structural heart market primarily utilize a custom textile that is sutured to a high-performance Nitinol metal frame.  Confluent’s Nitinol and biomedical textile expertise, in combination with Electrospinning’s leadership in electrospun nanofiber biomaterials expands the design options that Confluent customers can utilize in the structural heart market. Additionally, the application of the textile to the valve frame will be fully automated, simplifying the manufacturing process.

“The investment in Electrospinning reinforces Confluent’s strategy of Applying Materials Science to MedTech Innovation,” said Dean Schauer, CEO and President of Confluent Medical. “This partnership creates an opportunity for our two companies to facilitate further expansion of innovative structural heart products on behalf of our customers.”

About Confluent Medical Technologies

Confluent Applies Materials Science to MedTech Innovation.  Confluent’s engineered solutions to the most challenging design problems enable our OEM medical device customers to offer life-saving implantable products.  Our customers rely on Confluent for materials science and associated manufacturing expertise which is critical to the function and value of their most demanding, high growth products – proprietary expertise which spans processing of high purity Nitinol, ultra high density knitting of biomedical textiles and precision laser treatment of specialty polymers.  Confluent partners with leading OEM’s to create a selective product portfolio which includes such complex applications as transcatheter heart valves, neurovascular implants, endovascular stent grafts and advanced smart catheters.  With facilities in Fremont and Laguna Niguel, California;  Warwick, Rhode Island;  Windham, Maine;  Austin, Texas;  Chattanooga, Tennessee;  and San Jose, Cost Rica, Confluent has earned the confidence of the leaders in the medical device community through a proven track record of innovative materials science, engineering and manufacturing.  Additional information about Confluent is available at www.confluentmedical.com.

About The Electrospinning Company

Electrospinning offers contract services to design, develop and manufacture nanofiber biomaterials for medical devices and regenerative medicine. Based on the electrospinning platform technology, Electrospinning uses their expertise and experience to support clients in a range of different therapeutic indications, including the supply of the first electrospun biomaterial to be incorporated into an FDA-approved medical device. Electrospinning is located on the Harwell Innovation Campus near Oxford, UK. Additional information about The Electrospinning Company is available at www.electrospinning.co.uk.

For information please contact Confluent Medical, https://confluentmedical.com/.

Contact: Brittany Mai, Brittany.Mai@confluentmedical.com

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Icario Partners with CVC to fuel next phase of growth

CVC Capital Partners

Global private equity firm brings world-class resources and support to Icario’s current and future customers

Icario, the healthcare industry’s leading health action company, is pleased to announce that CVC Capital Partners (“CVC”), a leading global private equity firm, has acquired a majority interest in the company through the CVC Growth Partners II fund. The investment will be used to fuel Icario’s next phase of growth; financial terms were not disclosed.

The news comes at an exciting time for Icario, which rebranded earlier this year following the merger of market leaders Revel and NovuHealth. CVC will help Icario accelerate its business roadmap as it continues to build innovative solutions for its customers, which include many of the most trusted health plans in the United States.

“With CVC’s support, Icario is ideally positioned to bring our mission to more people through our shared vision for the business,” said Steve Wigginton, CEO of Icario. “We have been fortunate to benefit from the insight and leadership of our founders and early investors, and we look forward to our next chapter led by a team and a firm with a strong reputation for taking organizations to the next level.”

“Icario’s proprietary technology, data science, and behavioral insights drive highly valuable actions,” said Aaron Dupuis, partner at CVC Growth Partners. “We have followed the Icario story for some time as part of our long-standing efforts in member engagement, and we look forward to working with the Icario team to accelerate initiatives to bring even more member engagement innovation to Icario’s impressive customer base of more than 50 leading healthcare payers.”

“Engaging consumers in their health has never been more important than it is today,” said Fazle Husain, Partner and Head of U.S. Healthcare at CVC. “We see significant tailwinds for Icario as plans increasingly focus on coordinating member communications to drive member satisfaction, better health outcomes and lower cost of care.”

Icario is a health action company whose solutions seek to deeply understand people by leveraging behavioral and data sciences in order to move them to take action for better health. The early founders of the company recognized the gap between consumer engagement in other industries — travel, retail, and financial services — and identified an opportunity to do the same for healthcare through personalized, multi-channel communications that connect all people to health.

“We are thrilled to welcome the CVC team as Icario’s capital partner,” said Tom Wicka, co-founder of NovuHealth and chairman of Icario. “We have a shared vision for using technology and data to drive consumer behaviors that empower health plans’ quality, assessment, and health action strategies to drive better health outcomes.”

Icario was recently featured on the 2021 Inc. 5000 Regionals: Midwest list, the most prestigious ranking of the fastest-growing private companies in the Midwest. For more information on Icario and its health action capabilities, visit https://icariohealth.com.

TripleTree, LLC served as the exclusive financial advisor to Icario for this transaction. The transaction is subject to regulatory approvals.

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Ardian sells majority stake in Lagarrigue to Naxicap Partners, following significant acceleration of the group’s growth

Ardian

Paris, April 27, 2021 – Ardian, a world leading private investment house, announces today that it has sold its stake in the Lagarrigue Group, a Toulouse headquartered, global specialist in external orthopedic devices and in the design and manufacture of large-scale orthopaedic devices for the treatment of disabilities, to Naxicap Partners.

Since Ardian Expansion conducted the investment in 2016, the Lagarrigue group has matured from a French leader to a major international player. This development is primarily the result of the nearly 25 acquisitions, which were rapidly made within a short time frame of fewer than five years. This growth has seen Lagarrigue build its international turnover from 10% in 2016 to over 30% in 2021. In Europe, the group has now become one of the market leaders in both Switzerland and Belgium. Beyond these footholds, it has also started expanding in Spain and North America. The company recorded average sales growth of over 20% annually.
Simultaneously, the company has continued to play a leading role in the digital transformation of the sector, with sales of technology solutions integrating software increasing from 5% to 11%, between 2016 and 2021.

Lagarrigue has a unique model, giving it a strong competitive advantage and significant potential for organic growth:

  • A local network provided by teams of in-house ortho-prosthetists who design innovative medical devices perfectly adapted to the needs of each patient; custom-made products account for 95% of the company’s business.
  • The integration of digital technologies, from the industrial manufacturing process (via Rodin 4D and Vorum, CAD/CAM software solutions) to the assembly of components and raw materials.
  • Components: since 2017, the group has also strengthened its positioning on this strategic activity. Lagarrigue has developed a strategy of vertical integration in the manufacture and production of components, in particular following the acquisition of G2M.

Social and Environmental Responsibility (SER) is at the heart of Lagarrigue’s business model. Accompanied by the Ardian Expansion teams, the company has built an ambitious roadmap focused on the well-being and care of all patients, inclusive of all ability, age or level of independence.

Alain Montean and Jean-Pierre Mahé, respectively CEO and Chairman of the Lagarrigue Group, stated: “The last five years with Ardian have enabled us to accelerate the transformation of our company while continuing to capitalize on the group’s values and the fundamentals of our model. Thanks to its network and resources, the Ardian Expansion team has allowed us to take a key step in our international development. Lagarrigue is now a recognized global player in its sector. We are better positioned than ever to benefit from new opportunities that are opening up for us.”

Marie Arnaud-Battandier, Managing Director in the Ardian Expansion team, commented: “We were proud to work alongside the Lagarrigue team. They have once again demonstrated all qualities necessary to innovate and grow their company to give it the place it deserves in its market. Lagarrigue’s growth potential is still significant and the group’s unique position as well as  resilience provides it  with a decisive advantage in the coming years, particularly with the ongoing market consolidation.”

“We are thrilled to announce the acquisition of a majority stake in Lagarrigue alongside Jean-Pierre Mahé, Alain Montean, Nathalie Barracetti and their teams. The Group’s expertise, its global positioning and the values of its management team make it a rare investment opportunity and a highly motivating challenge,” said Luc Bertholat, Member of the Management Board of Naxicap Partners, and his team.

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$110bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 700 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of more than 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
Follow @Ardian on Twitter

ABOUT NAXICAP PARTNERS

As one of the top private equity firms in France, Naxicap Partners – an affiliate of Natixis Investment Managers* – has €4.3 billion in assets under management. As a committed, responsible investor, Naxicap Partners builds solid, constructive partnerships with entrepreneurs so that their projects can succeed. The firm has 39 investment professionals spread across five offices in Paris, Lyon, Toulouse, Nantes and Frankfurt.

ABOUT NATIXIS INVESTMENT MANAGERS*

Natixis Investment Managers serves financial professionals with more insightful ways to construct portfolios. Powered by the expertise of more than 20 specialized investment managers globally, we apply Active Thinking® to deliver proactive solutions that help clients pursue better outcomes in all markets. Natixis Investment Managers ranks among the world’s largest asset management firms with more than $1 trillion assets under management (€906.0 billion). Headquartered in Paris and Boston, Natixis Investment Managers is a subsidiary of Natixis. Listed on the Paris Stock Exchange, Natixis is a subsidiary of BPCE, the second-largest banking group in France. Natixis Investment Managers’ affiliated investment management firms include AEW; Alliance Entreprendre; AlphaSimplex Group; DNCA Investments;3 Dorval Asset Management; Flexstone Partners; Gateway Investment Advisers; H2O Asset Management; Harris Associates; Investors Mutual Limited; Loomis, Sayles & Company; Mirova; MV Credit; Naxicap Partners; Ossiam; Ostrum Asset Management; Seeyond; Seventure Partners; Thematics Asset Management; Vauban Infrastructure Partners; Vaughan Nelson Investment Management; Vega Investment Managers;4 and WCM Investment Management. Additionally, investment solutions are offered through Natixis Investment Managers Solutions, and Natixis Advisors offers other investment services through its AIA and MPA division. Not all offerings available in all jurisdictions.

LIST OF PARTICIPANTS

  • ARDIAN

    • Marie Arnaud-Battandier, Maxime Séquier, Arthur de Salins, Romain Gautron

  • IXO PE

    • Bruno de Cambiaire, Nicolas Olivès

  • LAGARRIGUE

    • Alain Montean, Jean-Pierre Mahé, Nathalie Baracetti

  • VENDOR DUE DILIGENCES

    • Strategic: BCG (Benjamin Entraygues, Benjamin Sarfati)
    • Financial: Eight Advisory (Florent Garnier, Pierre-David Forterre, Julie Vuarchex, Richard Emery)
    • Tax: Delaby & Dorison (Emmanuel Delaby, Romain Hantz, Alexandre Tardif)
    • Legal: Valoren (Capucine Mesas)
    • Social: MGG Voltaire (Marijke Granier-Guillemarre)
    • ESG: Indefi (Emmanuel Parmentier, Joanna Tirbakh)
    • IT: Netsystem (Olivier Cazzulo, Lionel Gros)

  • M&A AND FINANCING

    • Edmond de Rothschild Corporate Finance (M&A): Arnaud Petit, Julien Donarier, Anastasia Saldi, Hamza El Abboubi, Hervé Bizot
    • Edmond de Rothschild Corporate Finance (Financing) : Grégory Fradelizi, Nicolas Lévy

  • LAWYERS

    • Weil Gotshal & Manges: Frédéric Cazals, Alexandra Stoicescu, Cassandre Porges, Nicolas Mayol

  • MANAGEMENT’S ADVISORS

    • Agilys Avocats: Baptiste Bellone, Carolle Thain-Navarro, Sophie Auvergne
    • Callisto Finance: Vincent Aymé, Tancrède Caulliez

  • NAXICAP Partners

    • Luc Bertholat, Alban Sarie, Dominique Frances, Claire Lesellier

  • M&A ADVISORS

    • Clearwater: Benjamin Zayat, Grégoire Houëdry, Marc-Aurèle Taverna
    • Oaklins: Hadrien Mollard, Jean-Pierre Chometon, Raphaël Petit

  • FINANCING ADVISORS

    • Clearwater : Laurence de Rosamel, Paul Assael

  • BUYER’SDDs

    • Strategic : Indefi (Julien Berger), Cepton Stratégies (Francis Turina-Malard, Pierbruno Ricci)
    • Financing: Accuracy (Arnaud Lambert, Mathieu Philippot)
    • Legal, social and tax: McDermott Will & Emery AARPI

  • BUYER’S LAWYER

    • McDermott Will & Emery AARPI (Henri Pieyre de Mandiargues, Stanislas Offroy, Pierre-Arnoux Mayoly)

PRESS CONTACTS

Ardian – Headland

VIKTOR TSVETANOV

VTsvetanov@headlandconsultancy.co.uk +44 207 3435 7469

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Kinnevik invests SEK150 million in MatHem’s SEK1.1 billion funding round

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Kinnevik

Kinnevik AB (publ) (“Kinnevik”) today announced its pro-rata participation of SEK 150m in Mathem’s SEK 400m primary equity raise. Existing investors AMF and Stena invested SEK 100m and SEK 50m respectively, increasing their ownership in the business. The funding round also includes a debt facility of SEK 700m provided by P Capital Partners AB.

The newly raised capital will be used to fund MatHem’s continued expansion, including the launch of the new fulfilment center in Larsboda next year, and growing the product offering through, among other initiatives, the launch of pharmacy products in cooperation with Kronans Apotek. In 2020, MatHem recorded sales growth of 50 percent year-on-year, with sales amounting to SEK 2.3bn for the full year, consistently growing its share of the online grocery home delivery market.

Georgi Ganev, CEO of Kinnevik commented: ”Kinnevik is proud to support the continued growth of MatHem as it expands its product range and gains market share. I am impressed by how Johan and his team has met the increased interest in having groceries delivered to your doorstep, and I am convinced that MatHem will continue to develop its customer offering and efficiency.”

Johan Lagercrantz, CEO of MatHem commented: “I am incredibly grateful for the trust in MatHem from our investors in this funding round. MatHem has a clear focus on growth and increased efficiency in our continued journey towards profitability. We work hard to constantly develop to meet our customers’ needs and for our e-commerce of groceries with home delivery to contribute to a more convenient and simpler everyday life. With this investment we will be able to achieve fantastic results going forward.”

For further information, visit www.kinnevik.com or contact:

Torun Litzén, Director Investor Relations
Phone +46 (0)70 762 00 50
Email press@kinnevik.com

Kinnevik’s ambition is to be Europe’s leading listed growth investor, and we back the best digital companies to make people’ lives better and deliver significant returns. We understand complex and fast-changing consumer behaviours, and have a strong and expanding portfolio in healthtech, consumer services, foodtech and fintech. As a long-term investor, we strongly believe that investing in sustainable business models and diverse teams will bring the greatest returns for shareholders. We back our companies at every stage of their journey and invest in Europe, with a focus on the Nordics, and in the US. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families. Kinnevik’s shares are listed on Nasdaq Stockholm’s list for large cap companies under the ticker codes KINV A and KINV B.

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Gimv partners with Apraxon to support the company’s growth ambitions

GIMV

14/04/2021 – 07:30 | Portfolio

Gimv has completed its investment into the Apraxon Group, a leading homecare provider focusing on wound care services in Germany. This transaction is part of a joint growth plan with the company’s founder and CEO Oliver Pokrzewinski, who will continue to be an important shareholder in the company. 

Apraxon, (Hofbieber (DE) – apraxon.com), offers high quality wound care for (mostly elderly) people suffering from chronic wounds in a homecare setting. Typical wound indications include decubitus, diabetic foot or ulcus cruris. In providing this service, the company acts as an intermediary between patients, doctors, nursing services or homes and insurance companies.

Due to its high degree of specialization, Apraxon continuously provides high quality medical care and is able to tailor the treatment process according to each patient’s individual needs. In a market with steadily increasing patient numbers, primarily driven by demographic change, specialized medical care is gaining in importance. Services provided are reimbursed by health insurance companies, for whom Apraxon has been a reliable partner for many years.

“I am convinced that Gimv is the right partner to realize the company’s growth ambitions and expand Apraxon’s footprint in Germany,” explains Oliver Pokrzewinski, Managing Director and CEO of Apraxon. 

”Thanks to Apraxon’s clear commitment to quality, highly qualified nursing staff and strongly digitised and scalable processes, we believe that Apraxon is the right platform to build a true leader in the German wound care market. We are very much looking forward to supporting Mr. Pokrzewinski and the entire Apraxon team in realising their ambitious growth plans,” says Philipp v. Hammerstein, Partner at Gimv in the Health & Care team in Munich.

The new investment marks Gimv’s fifth acquisition in the German-speaking healthcare market over the last four years. Gimv currently has 23 participations in companies in the healthcare and life sciences sector. This acquisition further underpins Gimv’s position as one of the most active European investors in the healthcare industry and its ambition to positively contribute to the United Nations Sustainable Development Goals of good health and well-being. The Gimv portfolio also includes several clinic and practice groups, as well as medical technology and biotech companies

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