Tag Archives: healthcare

Bergman Clinics opens a new clinic in Rijswijk with a focus on eye care

NPM Capital

Bergman Clinics has opened a new focus clinic in Rijswijk. The new location offers the best possible eye care as a result of our ultimately modern complex with advanced equipment and facilities. The care provided here can be fully reimbursed by your health insurer, providing this is medically indicated and following a referral by your GP.

The opening of this modern, state-of-the-art location has enabled Bergman Clinics to respond to a growing demand for top quality, client-focussed treatments for plannable medical care. The specialisation Bergman Clinics is known for allows for very efficient working methods. This subsequently reduces access times and means more clients can be seen at an earlier stage.

The new location offers specialist treatments for a variety of eye diseases and conditions, including cataracts, glaucoma and macular degeneration. Clients can rely on a multidisciplinary approach, whereby experienced ophthalmologists work together with optometrists to realise the best possible care results. Cataract surgery is by far the most common procedure. Bergman Clinics | Rijswijk is expected to be able to help around 4000 clients get rid of their cataract problems every year.

The focus clinic has a brand new class 2 operating room at its disposal, especially designed for ophthalmic operations. The clinic also boasts twelve optimally equipped consulting rooms, allowing us to assist a large number of clients.

Dr Flora Berkhout is an Ophthalmologist at Bergman Clinics. She is very enthusiastic about the new focus clinic: “It’s hugely beneficial to form part of such a large ophthalmic organisation. We have gained an incredible amount of experience with eye care and how to organise this as optimally as possible in our other Bergman Clinics locations. I have personally worked at several Bergman Clinics locations: Ede, Den Bosch and Amsterdam. We can individually adopt each and every one of these best practices. Plus it’s certainly also going to be a very nice location. Fantastic for both our clients and our employees. Setting up this focus clinic together with the team is going to be a very exciting challenge to rise to!” according to Dr Berkhout.

Expansion of several care programmes later on this year
The new focus clinic will also be introducing other specialisms later on this year, in addition to ophthalmic care, including Skin & Vessels (dermatology & proctology), Woman (gynaecology) and ENT (ear, nose and throat). This will allow Bergman Clinics to offer an extensive care programme, making sure clients in Rijswijk and the surrounding area have access to top quality medical treatments in a variety of different areas.

 

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Nordic Capital-backed EDG embarks on transformative step via the separation and sale of its European laboratory business

Nordic Capital

European Dental Group (“EDG” or the “Company”), a leading pan-European oral care services platform, has announced a significant, transformative milestone on its journey. After rapidly growing its European clinics platform while in parallel establishing a European laboratory business, the Company has decided to separate and sell its laboratory activities (including Excent, Flemming, Artinorway Group), which will be acquired by Oakley Capital (“Oakley”) in the Transaction.

“Under EDG stewardship, we’ve built one of the leading dental laboratory players in Europe,” said Toby Anderson, CEO of EDG.

“Following an internal strategic review, we identified considerable benefits of separating our clinic and dental laboratory activities and believe that the separation will optimise the future growth of both.”

This strategic decision allows EDG to solely focus its resources on continuing the rapid development of its leading oral care clinic networks in the Netherlands, Germany, the UK, France, Switzerland, and Belgium. Its commitment to providing best-in-class oral care to patients and being the preferred partner for clinicians and staff remains at the centre of EDG’s mission.

EDG’s dental clinics will maintain a close partnership with the departing dental laboratories, preserving an ongoing collaboration that has contributed significantly to joint success.

The transaction’s completion remains subject to regulatory approval.

For more information, please contact:
Christoph Mosebach
Deputy Head of BD and M&A
tel: +31 627845159
email: christoph.mosebach@europeandentalgroup.eu

About European Dental Group
Founded in 2018 by Nordic Capital via the acquisitions of Dental Clinics and TopOrtho in the Netherlands, Flemming dental labs and a small dental chain in Germany and Adent in Switzerland, the European Dental Group is a leading European dental care and services provider that relies on quality leadership, a strong team concept and well-established processes.

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£3.1mn investment in leading digital health platform Mable Therapy

Gresham House

We are pleased to announce a £3.1 million investment into Mable Therapy, the UK’s leading digital health platform for children’s speech and language therapy and counselling services.

The business addresses a significant and growing area of need – 1.4mn children in the UK have long-term speech, language or communication needs and one in five children aged 5-16 have a diagnosed mental health problem.

Founded by Martha Currie and Elliot Agró in 2015, Mable provides easy access to a nationwide network of therapists who deliver live, 1-2-1 sessions through a bespoke online platform that facilitates improved therapeutic outcomes in a child-friendly environment.

Mable offers an affordable direct-to-consumer service, as well as solutions for the education and healthcare sectors, where technology adoption is now seen as vital to address the growing unmet demand.

In the last year alone, Mable has delivered over 22,000 hours of therapy to over 3,000 children.

As part of the investment, Gresham House Ventures has supported the appointment of Oli White as Mable’s CEO, bringing significant commercial expertise in the health and education technology sectors, most recently as Chief Commercial Officer at Doc Abode. Education business leader, Andrea Carr, will also join Mable as independent Chair.

The investment, led by Benjamin Faulkner and Tom Makey, follows several recent investments in the healthcare and education sectors.

In April 2023, Gresham House Ventures invested £4.0mn into neuro-inclusion solutions provider Cognassist, whose software platform supports individuals with hidden learning needs across education and the workplace. This followed a £4.5mn investment in September 2022 in Orri, a specialist clinic for the treatment of eating disorders. The investment in Mable represents the fourth new investment by Gresham House Ventures in 2023.

Mable Therapy was advised on the transaction by Zuleika Salter and James Balicki at finnCap Group.

Benjamin Faulkner, Associate Director at Gresham House Ventures said:

“Mable’s technology transforms the lives of children in their crucial early stages of development. There is significant growth potential for Mable within the wider education and health sectors where its technology offering can drive meaningful efficiencies for public service providers. Martha and Elliot have built an excellent business that is backed by a wealth of clinical and technological expertise, and we are confident that Mable can continue to revolutionise the provision of this vital support across the UK.”

Co-founders, Martha Currie and Elliot Agró said:

“Mable’s mission has always been to design therapy that puts children at its core, giving them the best chance to reach their full potential. Our pioneering technology has already helped thousands of families across the UK, and with this investment by Gresham House Ventures we can take this support even further. The investment will facilitate the development of an intra-therapy app designed to engage and empower children beyond session hours, and school screening tools to help educators in assessing students’ mental health and speech and language needs. We also look forward to welcoming to the team Oli and Andrea, whose expertise will be instrumental as we continue to enhance and expand our service beyond the UK.”

Oli White, Chief Executive said:

“This investment will enable us to extend our reach in the sectors where our technology is already helping schools and other care providers to support children facing complex challenges. With Gresham House Ventures’ outstanding track record of working with businesses in this sector, Mable is well-positioned to accelerate its growth trajectory in the coming years.”

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Oakley Capital invests in Flemming Dental, Excent and Artinorway Group

Oakley

Oakley Capital (“Oakley”), a leading pan-European private equity investor, is pleased to announce that Oakley Capital Fund V (“Fund V”) has agreed to acquire Flemming Dental, Excent, and Artinorway Group (combined as the “Company”) in a carve-out from European Dental Group (“EDG”), a leading pan-European oral care and services provider, to form one of the leading dental laboratories groups in Europe. 

The Company provides a comprehensive range of services, including the design and manufacture of dental prostheses (crowns, bridges and dentures) and orthodontics (braces, retainers and aligners), utilising technology including CAD software, computer-aided milling and 3D printing, as well as local craftmanship. The Company currently services c.5,000 clinics across nearly 70 dental laboratories throughout Europe.

 

The Company currently services c.5,000 clinics across nearly 70 dental laboratories throughout Europe.

Liberty 2

Oakley will work closely with the management to establish Flemming Dental, Excent and Artinorway Group as an independent business and to become a leader in the global dental lab market. Through this transaction, Oakley is leveraging its network of entrepreneurs, partnering with Hidde Hoeve, the co-founder of Excent Tandtechniek, a group of dental laboratories acquired by EDG in 2018. The collaboration between Oakley and the Company’s experienced management team will see the execution of an ambitious growth strategy, driven by organic growth, international expansion and targeted M&A.

Fund V’s investment

Through Fund V’s investment, the Company will benefit from Oakley’s extensive expertise in digitalisation, helping the Company to capitalise on technological innovation in the dental lab industry and the rapid digital transformation of the market. Fund V’s investment will enable Flemming Dental, Excent and Artinorway Group to accelerate innovation and the adoption of cutting-edge technology, providing solutions with unparalleled precision for dental clinics and their patients across Europe and beyond. The European dental lab market is large and growing with strong customer stickiness, valued at approximately €10 billion today, and is also highly fragmented offering compelling opportunities for value creation through buy-and-build, which is an area Oakley has extensive expertise in.

In Oakley we have the ideal partner to support Flemming Dental, Excent and Artinorway Group as they begin the next chapter as an independent business. We are well positioned to capitalise on the accelerating digitalisation of dental laboratories. Together with the current management we will maintain focus on our clients, local craftsmanship and innovation. Oakley’s expertise will be invaluable as we execute our growth strategy to become the leader in the global dental lab market.

Hidde Hoeve

Excent Co-founder and CEO of the new combined entity

Oakley was advised by Paul Hastings, PwC, LEK and KPMG in connection with this transaction.

Quote Peter Dubens

This is a key inflection point for the dental laboratory industry, with rapid digitalisation poised to revolutionise dental design and manufacturing, and patient care. We look forward to working closely with Hidde Hoeve and the management team as we establish Flemming Dental, Excent and Artinorway Group as an independent company and leverage transformational new technologies to unlock its full potential for future growth.

Peter Dubens

Managing Partner and co-Founder — Oakley Capital

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Nordic Capital-backed Prospitalia Group becomes Vivecti Group, Dr. Benjamin I. Behar appointed as new CEO

Nordic Capital

Prospitalia Group has appointed Dr. Benjamin I. Behar as new CEO and will operate under the new brand Vivecti Group.

Prospitalia Group, a leading purchasing service company in the German healthcare market, today announced the appointment of Dr. Benjamin I. Behar as new Group CEO. As lever, catalysator and reliable partner, the companies of the group will in future provide their expertise to healthcare providers and other market participants under the new brand Vivecti Group. The new Group brand reflects the evolved and integrated approach to serve clients as a full service partner for all key challenges in hospitals and adjacent fields.

Dr. Benjamin I. Behar brings a particularly deep understanding of the challenges and management of hospitals. Before joining Vivecti Group, he played a significant role in establishing one of the fastest-growing hospital groups, Artemed SE. From the founding stage of Artemed with three hospitals to a nationally operating hospital group with 18 high-performance hospitals, he was responsible for both, the restructuring and integration of the new hospitals, as well as for purchasing and communications. Prior to that, he worked for McKinsey & Company, advising hospital operators such as Vivantes, the University Medical Center Mainz, and the Klinikverbund Südwest.

“Being the catalyst that helps healthcare providers and other market participants operate more effectively is an immensely fulfilling mission for me, as economic efficiency is the fundamental premise for medical quality, ultimately benefiting the patients. Economic efficiency and medical quality are not contradictory but mutually reinforcing. That’s why the Vivecti Group provides our partners with a comprehensive and integrated range of services and products, enhancing their performance unlike any other corporate group,” said Dr. Benjamin I. Behar.

 

Press contacts: 

For Vivecti Group:
Beilquadrat GmbH I Agentur für Identität und Identifikation
Tel +49 40 8821532-22
E-Mail: Vivecti@beilquadrat.de

About Vivecti Group

As a lever, catalyst and reliable partner, the Vivecti Group, under the leadership of Dr. Benjamin Behar, is the performance partner for healthcare facilities. Founded in 2015 with 450 employees and an annual turnover of 120 million euros over the past five years, the company originally originated from a purchasing group for hospitals founded in 1993. Today, Prospitalia, Pro Care Management, Wawibox, Miralytik, Prospitalia h-trak as well as the companies of WMC and the Hospital Management Group (HMG) belong to the Vivecti Group and thus cover an unparalleled range of products and services in the German market. In this way, healthcare providers are comprehensively supported strategically and operationally in the areas of purchasing and material cost optimisation, digital products and data analytics as well as managed services and consulting – with the aim of helping healthcare facilities to gain new strengths in times of transformation of the entire system. For more information, please visit: www.vivecti-group.com

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Alantra Private Equity portfolio company Health in Code acquires Genologica

Alantra

With this acquisition Health in Code achieves its goal of doubling its size in three years

  • This is Health in Code’s first acquisition since 2020 when it was created through the merger of three leading companies in the clinical genetics sector in Spain: Imegen, Genycell Biotech, and Health in Code
  • Since 2020, Health in Code has delivered organic annual growth of more than 20%
  • Health in Code’s expansion plans include the acquisition of other genomic diagnostics companies in Spain and the rest of Europe

Health in Code, a leading clinical genetic diagnostics company in Spain and an Alantra Private Equity portfolio company, has acquired genetic analysis laboratory Genologica to consolidate its leading position in Spain. Both parties have agreed not to disclose financial details of the transaction.

Founded in Malaga and with a strong presence in Andalusia, Genologica has more than 15 years of experience in genetic analysis for the prevention, diagnosis, assessment, and treatment of hereditary or genetic diseases. Its founders and main executives, Javier, José María and Daniel Porta, will continue to lead Genologica and will join Health in Code’s management team.

Health in Code is the result of the merger of three leading companies in the clinical genetics sector in Spain at the beginning of 2020: Imegen, Genycell Biotech and Health in Code. Alantra Private Equity is the majority shareholder of the Group, which includes among its shareholders the founding partners of the three former companies.

The acquisition of Genologica is the Group’s first add-on since its foundation and is in line with a buy-and-build strategy targeting companies or projects characterized by differentiation and clinical excellence.

Health in Code expects to reach €45m in revenues this year, of which approximately €4m will be contributed by Genologica. This represents an annual growth rate of more than 20% since 2020, doubling the initial size of the Group and demonstrating the sector’s strong growth.

The Group’s expansion plans include the acquisition of other medical genetics companies to complement its portfolio of services and products, as well as the organic development of new international markets based on a differential value proposition and unique technological capabilities. Health in Code currently has operational centers in Valencia, where it is headquartered, La Coruña, Granada and Malaga, employing more than 200 professionals. Last June, Health in Code installed the first NovaSeq X Plus in Spain, reaffirming its position as a leader in sequencing committed to whole genome studies.

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Apax Funds and Fremman Capital invest in Palex Medical, a leading provider of medical technology solutions for healthcare professionals

Fremman

Funds advised by Apax Partners LLP (“Apax”) and funds advised by Fremman Capital (“Fremman”) announced today that they have reached a definitive agreement to jointly acquire co-controlling stakes in Palex Medical (“Palex” or the “Company”). The selling shareholders are funds advised by Fremman, the current majority shareholder, and other minority shareholders.

Palex is the leading provider of high value-added medical technology (“MedTech”) equipment and solutions in Southern Europe. Following the transaction, Apax and Fremman will partner with Palex’s management team to help drive future value creation and pursue international growth.

Founded in 1955 and headquartered in Barcelona, Palex is the leading independent MedTech solutions provider in Southern Europe, focused on the marketing, sales and logistics of high value-added MedTech equipment for public and private hospitals and laboratories in Spain, Portugal and Italy. The Company has a strong reputation for innovation, quality and service and offers a wide product portfolio of over 150,000 product references from 600+ world-leading tier-1 manufacturers.

Xavier Carbonell, CEO of Palex, said: “We’re incredibly excited to continue our partnership with Fremman and to have secured the backing of Apax as a joint-lead investor for the next phase of our growth journey. Since 2007, the current management team has built Palex into a leading business that is trusted by the healthcare community, and I’m proud of our relentless focus on innovation, quality, and trust. We are very happy with the support that we have received, and will continue receiving from Fremman, which has allowed the Company to make the jump to become the leading provider of medical technology solutions in Southern Europe. By bringing a strong and experienced partner like Apax into our shareholder base, we expect to be able to further accelerate our growth, both locally and internationally. I’m confident we have the right strategic partners in place to execute on our ambitious plans and I’m excited for the future.” He also adds: “I would also like to take this opportunity to look back at all the successes achieved so far and thank Apheon and Corpfin Capital for their trust and involvement in the project”

Ricardo de Serdio, Founding Partner and CEO, Fremman Capital, added: “Since our entry in Palex in December 2021, we have pursued a clear strategy to support the Company in becoming an international leader in MedTech distribution. By leveraging our sector expertise, consolidation experience, and pan-European network, we have helped the Company complete 8 acquisitions – some of them transformational – across 4 countries, enter new geographies, and more than doubled the size of the business in less than two years. We are thrilled with the sale transaction and with our subsequent investment to continue supporting Xavier and the Company on this next phase of pan-European
growth.”

Frank Ehmer, Partner, Apax, commented: “We couldn’t be happier to be partnering with Xavier and the wider Palex team, along with Fremman Capital. We have long identified the healthcare distribution sector as an ideal intersection between Apax’s deep expertise in MedTech and strong track record of investment in distribution-focused businesses. Throughout our engagement, it became immediately clear to us that Palex is a stand-out operator with the potential to establish itself as a Pan-European leader. Palex has consistently outperformed over decades, with an unrivalled reputation and offering, and we look forward to building on this success to date, leveraging our experience and insights to help the team accelerate growth and execute on our joint vision for the future.”
The transaction is subject to customary closing conditions and is expected to close in Q4 2023. Financial terms were not disclosed.

Bank of America, Jefferies and Credit Suisse are acting as financial advisors on the transaction.
Pérez-Lorca and Uría Menéndez are acting as legal counsel to Fremman and management, Sullivan & Cromwell and Garrigues are acting as legal counsel to Apax. Dextra Corporate and Deloitte have participated advising the management.

-ENDS-

About Palex Medical

Palex, founded in 1955 by the Knuth family, is a company focused on the marketing, sales and logistics of high value-added MedTech equipment and solutions in the Spanish, Portuguese and Italian markets. The Company has a strong reputation for innovation, quality and service and offers a wide product portfolio (+150,000 references) from world-leading Tier-1 manufacturers (+600 partnerships) and own products across numerous therapeutic areas. Palex counts with ~928 employees, has an income forecast of 485 millions in 2023 and is headquartered in Sant Cugat del Vallès (Barcelona, Spain).

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.

About Fremman

Founded in 2020, Fremman is a pan-European, mid-market investment firm with offices in London, Luxembourg, Madrid, Munich, and Paris. The firm is an establish multi-geography platform consisting of c.40 professionals that operate as one team. It is supported by a highly experienced Board of Advisors of 14 individuals that provide unique sector expertise and insights. The firm focuses on investments in four core sectors, including business & tech services, healthcare, consumer goods & distribution, and industrials. Utilising our reputation as trusted advisors, Fremman looks to partner with companies’ management teams to deploy multiple growth strategies, transforming businesses from national to multinational sustainable leaders. For more information, please visit www.fremman.com.

Media Contacts:

FOR PALEX
Xavier Balsa
x.balsa@palex.es
+34600278823

FOR APAX:
Luke Charalambous
Luke.Charalambous@apax.com
+44 20 7872 6300

FOR FREMMAN:
investorrelations@fremman.com
+44 20 7458 4626

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Apax Funds and Fremman Capital invest in Palex Medical, a leading provider of medical technology solutions for healthcare professionals

Apax

Funds advised by Apax Partners LLP (“Apax”) and funds advised by Fremman Capital (“Fremman”) announced today that they have reached a definitive agreement to jointly acquire co-controlling stakes in Palex Medical (“Palex” or the “Company”). The selling shareholders are funds advised by Fremman, the current majority shareholder, and other minority shareholders.

Palex is the leading provider of high value-added medical technology (“MedTech”) equipment and solutions in Southern Europe. Following the transaction, Apax and Fremman will partner with Palex’s management team to help drive future value creation and pursue international growth.

Founded in 1955 and headquartered in Barcelona, Palex is the leading independent MedTech solutions provider in Southern Europe, focused on the marketing, sales and logistics of high value-added MedTech equipment for public and private hospitals and laboratories in Spain, Portugal and Italy. The Company has a strong reputation for innovation, quality and service and offers a wide product portfolio of over 150,000 product references from 600+ world-leading tier-1 manufacturers.

Xavier Carbonell, CEO of Palex, said: “We’re incredibly excited to continue our partnership with Fremman and to have secured the backing of Apax as a joint-lead investor for the next phase of our growth journey. Since 2007, the current management team has built Palex into a leading business that is trusted by the healthcare community, and I’m proud of our relentless focus on innovation, quality, and trust. We are very happy with the support that we have received, and will continue receiving from Fremman, which has allowed the Company to make the jump to become the leading provider of medical technology solutions in Southern Europe. By bringing a strong and experienced partner like Apax into our shareholder base, we expect to be able to further accelerate our growth, both locally and internationally. I’m confident we have the right strategic partners in place to execute on our ambitious plans and I’m excited for the future.” He also adds: “I would also like to take this opportunity to look back at all the successes achieved so far and thank Apheon and Corpfin Capital for their trust and involvement in the project”

Ricardo de Serdio, Founding Partner and CEO, Fremman Capital, added: “Since our entry in Palex in December 2021, we have pursued a clear strategy to support the Company in becoming an international leader in MedTech distribution. By leveraging our sector expertise, consolidation experience, and pan-European network, we have helped the Company complete 8 acquisitions – some of them transformational – across 4 countries, enter new geographies, and more than doubled the size of the business in less than two years. We are thrilled with the sale transaction and with our subsequent investment to continue supporting Xavier and the Company on this next phase of pan-European growth.”

Frank Ehmer, Partner, Apax, commented: “We couldn’t be happier to be partnering with Xavier and the wider Palex team, along with Fremman Capital. We have long identified the healthcare distribution sector as an ideal intersection between Apax’s deep expertise in MedTech and strong track record of investment in distribution-focused businesses. Throughout our engagement, it became immediately clear to us that Palex is a stand-out operator with the potential to establish itself as a pan-European leader. Palex has consistently outperformed over decades, with an unrivalled reputation and offering, and we look forward to building on this success to date, leveraging our experience and insights to help the team accelerate growth and execute on our joint vision for the future.”

The transaction is subject to customary closing conditions and is expected to close in Q4 2023. Financial terms were not disclosed.

Bank of America, Jefferies and Credit Suisse are acting as financial advisors on the transaction.

Pérez-Lorca and Uría Menéndez are acting as legal counsel to Fremman and management, Sullivan & Cromwell and Garrigues are acting as legal counsel to Apax. Dextra Corporate and Deloitte have participated advising the management.

 

-ENDS-

 

About Palex Medical

Palex, founded in 1955 by the Knuth family, is a company focused on the marketing, sales and logistics of high value-added MedTech equipment and solutions in the Spanish, Portuguese and Italian markets. The Company has a strong reputation for innovation, quality and service and offers a wide product portfolio (+150,000 references) from world-leading Tier-1 manufacturers (+600 partnerships) and own products across numerous therapeutic areas. Palex counts with ~928 employees, has an income forecast of 485 millions in 2023 and is headquartered in Sant Cugat del Vallès (Barcelona, Spain).

 

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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L Catterton Announces Completion of Continuation Fund to Extend its Partnership with PatientPoint Health Technologies

LCatterton
GREENWICH, Conn., July 28, 2023 /PRNewswire/ — L Catterton, a leading global consumer-focused investment firm, today announced the successful closing of a continuation fund transaction for its portfolio company PatientPoint Health Technologies™ (“PatientPoint”), a leading tech-enabled point-of-care patient engagement company. The transaction reaffirms L Catterton’s long-term commitment and maintains its ownership in the business, allows L Catterton to return capital to investors, and provides PatientPoint with additional capital to support growth initiatives. Terms of the transaction were not disclosed.

PatientPoint has become a trusted patient engagement company, and following its successful transformational combination with Outcome Health in 2021, is now an industry-leading platform serving approximately 140,000 healthcare practitioners (“HCPs”) and impacting over 750 million patient visits annually, nationwide. The Company improves doctor-patient engagement by educating patients through the nation’s largest interconnected network of digital devices in healthcare practices. With innovative solutions and unparalleled reach, PatientPoint has consistently delivered strong financial and operational excellence and is well-positioned for long-term growth.

“Over the course of our investment, PatientPoint has transformed into a leading digital patient engagement platform improving health outcomes for patients, and we believe the business continues to have opportunities to accelerate its growth,” said Andrew Taub, a Managing Partner in L Catterton’s Flagship Fund. “We are excited to continue our partnership through a transaction that not only provides new capital to PatientPoint to support product expansion, but also presents an attractive liquidity option to L Catterton’s existing investors. We look forward to continuing to work with PatientPoint’s talented team to strengthen the company’s value proposition during its next phase of growth.”

“We are thrilled to extend our successful partnership with L Catterton in a transaction that validates the significant momentum we’ve generated,” said Mike Collette, Founder and CEO of PatientPoint. “This additional investment will allow us to capitalize on meaningful near-term growth initiatives, while upholding our commitment to providing trusted, reliable solutions that improve doctor-patient engagement across the entire care journey. We thank L Catterton for their continued support and are confident that together, we will continue to drive long-term, sustainable growth.”

L Catterton will maintain its position in PatientPoint through the new dedicated continuation vehicle, which includes investments from funds advised by Neuberger Berman, lead investor, and funds advised by affiliates of Fortress Investment Group LLC, co-lead investor. Littlejohn & Co., who became a partner to L Catterton following PatientPoint’s merger with Outcome Health in 2021, will retain its ownership.

Peter Bock, Managing Director at Neuberger Berman said, “We have been impressed both by L Catterton’s consumer expertise and PatientPoint’s opportunity to leverage their expansive HCP network to offer a full set of digital solutions across the patient care journey. This transaction provides the Company with the time they need to execute their value creation strategy and offers a compelling liquidity opportunity to existing investors.”

Greg Getschow, Managing Director at Fortress added, “On behalf of our investors, we are pleased to establish this partnership with L Catterton, which provides PatientPoint with the additional capital that they need capitalize on significant growth initiatives that are ahead for the business.”

Evercore served as financial advisor to L Catterton on the transaction. Kirkland & Ellis served as legal counsel.

About L Catterton
L Catterton is a market-leading consumer-focused investment firm, managing approximately $33 billion of equity capital across three multi-product platforms: private equity, credit, and real estate. Leveraging deep category insight, operational excellence, and a broad network of strategic relationships, L Catterton’s team of more than 200 investment and operating professionals across 17 offices partners with management teams to drive differentiated value creation across its portfolio. Founded in 1989, the firm has made over 250 investments in some of the world’s most iconic consumer brands. For more information about L Catterton, please visit www.lcatterton.com.

About PatientPoint
PatientPoint® is a tech-enabled point-of-care patient engagement platform. Our innovative, tech-enabled solutions create more effective doctor-patient interactions and deliver high value for patients, providers and healthcare sponsors. Through our nearly 140k unique healthcare provider relationships, PatientPoint’s solutions impact roughly 750 million patient visits each year, further advancing our mission of making every doctor-patient engagement better®. Learn more at patientpoint.com.

Media Contacts
L Catterton
Julie Hamilton
Managing Director, Firm Communications
media@lcatterton.com
203.742.5185

PatientPoint
PatientPoint Corporate Communications
news@patientpoint.com

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IK Partners to sell Klingel Medical Group to Elos Medtech

IK Partners

Press Release
Friday, 28 July 2023

IK Partners (“IK”) is pleased to announce that the IK VIII Fund (“IK VIII”) has reached an agreement to sell its stake in KLINGEL Holding GmbH (“Klingel Medical Group”, “Klingel” or “the Group”), a leading full-service provider for complex high-end components and custom products for medical technology, to Elos Medtech AB (“Elos Medtech”) (STO: ELOS-B).

Founded in 1986 and headquartered in Pforzheim, Germany, Klingel has grown to become a market-leading contract development and manufacturing organisation (“CDMO”) with a strong focus on medical technology (“MedTech”) customers across Orthopaedics, Spine, Trauma, Surgical Robotics, Endoscopy and Dental. The Group’s offering spans the entire value chain from development services to production and sterile packaging, with eight production facilities in Southern Germany and Switzerland.

With IK’s support, the business has transformed from a local contract manufacturer in the DACH market into a truly international MedTech CDMO with a strong customer base of global MedTech original equipment manufacturers. During this period, sales have more than trebled, driven by an expansion of production technologies and the successful bolt-on acquisitions of GEHRING CUT, Bächler Feintech, puracon and Ruetschi. Collectively, the Group has approximately 900 employees.

In addition to its full value chain coverage, Klingel relies on deep technological expertise as well as development, production and regulatory know-how to drive outperformance versus its peers. The Group also has a very experienced management team which has more than 80 years of combined experience at C-suite level.

Ralf Petrawitz and Christoph Ruetschi, Co-CEOs at Klingel Medical Group, commented: “We would like to thank the team at IK for their unwavering support over the past five years; a period which has seen us demonstrate exceptional growth and expand our DACH footprint in MedTech. We are proud of all that we have achieved and look forward to continuing this growth trajectory with our new partner Elos Medtech.”

Anders Petersson, Managing Partner at IK and Advisor to the IK VIII Fund, said: “Since our acquisition of the business in 2018, together with management, we have successfully executed our growth strategy, helping Klingel to significantly expand its customer base to become an international MedTech company. One of the reasons we invested in Klingel, was the fragmented nature of this market and its consolidation potential. With our support, the Group has been able to make several exciting bolt-on acquisitions and become a consolidator in the market, which has enabled Klingel to become a leading CDMO in the MedTech sector. It has been a true pleasure working together with the team at the Group. The combination with Elos MedTech makes a lot of strategic sense and we believe that the cultural fit is strong.”

Stefano Alfonsi, CEO and President at Elos Medtech, added: “We firmly believe that this acquisition strengthens our position in the CDMO landscape. It marks a significant step forward in our commitment to offering an extensive array of services to our customers through the hard work of a talented combined workforce. The acquisition will reinforce our well-established reputation for excellence and our ability to cultivate enduring partnerships, aligning seamlessly with Klingel’s similar ethos. We look forward to working with Ralf, Christoph and their team.”

For further questions, please contact:

IK Partners
Vidya Verlkumar
Phone: +44 (0) 7787 558 193
vidya.verlkumar@ikpartners.com

About Klingel Medical Group

Klingel Medical Group is one of the leading manufacturers of metal products for medical technology. As a specialist for the precision processing of high-strength materials, we have been growing continuously and maintaining long and very close relations with our customers. Klingel employs roughly 900 employees across its headquarters in Pforzheim and partner companies Josef Ganter Feinmechanik in Dauchingen, puracon in Rosenheim, Bächler Feintech in Hölstein and Matzingen as well as Ruetschi in Renquishausen (Southern Germany), Muntelier and Yverdon-les-Bains (both in Switzerland). For more information, visit https://www.klingel-group.com/

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About IK Partners

IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in 180 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit https://ikpartners.com

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About Elos Medtech

Elos Medtech is a leading development and production partner for medical devices and components, with a focus on dental and orthopedic implants and instruments. The company operates from facilities in Sweden, Denmark, China, and the U.S. The customer base comprises international medical technology companies.
Elos Medtech has more than 650 employees and a turnover of approximately SEK 950 million. Elos Medtech has been listed on NASDAQ Stockholm AB since 1989. Elos Medtech’s B share is categorized as a Health Care company on the Mid Cap list. For more information, visit https://elosmedtech.se/

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