Tag Archives: healthcare

EQT Life Sciences leads USD 20 Million Financing Round in FundamentalVR

eqt

FundamentalVR receives Series B growth investments to disrupt the medical simulation market – expected to be worth USD 4.2 billion by 2025.

FundamentalVR has raised USD 20 million to significantly accelerate medical skill-transfer and to increase surgical proficiency through its world-leading medical simulation platform, Fundamental Surgery.

The transaction was led by EQT Life Sciences, investing from the LSP Health Economics Fund 2, and joined by prior investors Downing Ventures. The new investments follows a Series A round from October 2019, and brings the company’s total funding to over USD 30 million.

FundamentalVR is the world’s first scalable medical simulation platform to combine virtual reality and haptics through data, artificial intelligence, and multimodal learning. FundamentalVR’s patented HapticVR™ technology mimics the physical touch of surgical actions which allows users to experience the sights, sounds, and physical sensations of real-life surgery. Scalable and hardware agnostic, the platform immerses users in a controlled training environment that lowers the surgical risk to patients.

Deployed in over 30 countries, FundamentalVR’s high-fidelity simulations helps life sciences, pharmaceutical and med-device companies deploy medical innovations in disciplines from ophthalmology, to robotics, gene therapy, and more. The growth investment will enable further development of HapticVR™, the machine learning data insights product, and geographic expansion throughout the US. FundamentalVR’s multiuser platform enables medical institutions, hospitals, and surgical educators, to scale professionally accredited surgical training throughout their organisations. Partnerships with hospital groups, including flagship clients and investors Mayo Clinic and Sana Kliniken, will drive further growth.

Richard Vincent, co-Founder and Chief Executive of FundamentalVR, said, “Our platform can conduct a walkthrough of a procedure through to a full operation, facilitating surgical skills transfer – which is why we have been enthusiastically embraced throughout the medical industry, from med-device manufacturers to pharmaceuticals. Our immersive environments transform surgical skills acquisition in a scalable, low-cost, multiuser way. We are excited to scale our vision of creating a medical education environment unhindered by borders.”

Drew Burdon, Partner at EQT Life Sciences, said, “With increasingly complex surgical procedures, it is important to provide medical professionals with new methods for surgical skills transfer and continued training and education, whilst managing both the cost and time burden associated with these activities. HapticVR™, is a differentiated approach which has already been adopted by a number of high-quality customers, in a short period of time, demonstrating the value that this system can add today”.

As part of the transaction, Drew Burdon will join the Board of Directors.

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New Mountain Capital Announces Intent to Acquire PerkinElmer’s Applied, Food and Enterprise Services Businesses for up to $2.45 Billion

New Mountain Capital
NEW YORK, N.Y., August 1, 2022 – New Mountain Capital, a growth-oriented investment firm with over $37 billion in assets under management, today announced that it has entered into a definitive agreement with the intention to acquire PerkinElmer’s Applied, Food and Enterprise Services businesses, a carve-out from the Discovery & Analytical Solutions segment of PerkinElmer, Inc. (NYSE: PKI), for up to $2.45 billion in total consideration.The business being acquired includes PerkinElmer’s leading OneSource laboratory and field services, along with a portfolio of atomic spectroscopy, molecular spectroscopy, and chromatography instruments, consumables and reagents that serve the biopharma, food, environmental & safety and applied end markets.  The PerkinElmer brand will be transferred with the business, and the transaction is expected to close in the first quarter of 2023, subject to regulatory approvals and other customary closing conditions.

Andre Moura, Managing Director at New Mountain Capital, said: “PerkinElmer has a long history of market-leading innovation, and we are excited to partner with this dedicated team to support the next phase of growth. The business we are acquiring provides mission-critical solutions that enable scientists and researchers to perform their important work, including developing and manufacturing biopharmaceuticals, ensuring a cleaner and safer environment and food supply, and helping to provide high-quality products to demanding customers. New Mountain intends to continue to invest behind the business as we pursue a dynamic growth strategy.”

Joe Walker, Managing Director at New Mountain Capital, added: “We look forward to supporting the business as we invest in continued product innovation, cutting-edge technology, market expansion, add-on M&A and other strategic partnerships to further expand and build on the business’ strong value proposition to its customers and partners.”

Matt Holt, President of Private Equity and Managing Director at New Mountain Capital, added: “We view this investment as a platform for growth and business building at the intersection of two long-standing sector efforts, healthcare technology and life science materials & supplies. We plan to invest significantly in the resources of this business, for the benefit of all stakeholders including customers, the workforce and other business partners.”

Prahlad Singh, President and CEO of PerkinElmer, commented: “This milestone has been made possible by the hard work of our nearly 17,000 employees across the globe. It is validation of our people and the incredible businesses we have built. With this transaction, the Applied, Food and Enterprise Services businesses are gaining a partner who is committed to building on their record of success. Upon closing of the transaction, I believe both organizations will benefit significantly from increased focus and aligned investment on their unique market opportunities.”

New Mountain Capital was advised by Jefferies as exclusive financial advisor and Simpson Thacher & Bartlett as lead legal counsel. Owl Rock Capital, a division of Blue Owl, served as administrative agent and joint lead arranger for the credit facilities. Goldman Sachs & Co. LLC, Inc., is serving as exclusive financial advisor to PerkinElmer, with WilmerHale, McDermott Will & Emery, and Hogan Lovells serving as legal counsel to the Company.

About New Mountain Capital

New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, credit, and net lease real estate funds with over $37 billion in assets under management. New Mountain seeks out what it believes to be the highest quality leaders in carefully selected “defensive growth” industry sectors and works intensively with management to build the value of these companies. Additional information about New Mountain Capital is available at www.newmountaincapital.com.

About PerkinElmer

PerkinElmer is a leading, global provider of end-to-end solutions that help scientists, researchers and clinicians better diagnose disease, discover new and more personalized drugs, monitor the safety and quality of our food, and drive environmental and applied analysis excellence. With an 85-year legacy of advancing science and a mission of innovating for a healthier world, our dedicated team of more than 16,000 collaborates closely with commercial, government, academic and healthcare customers to deliver reagents, assays, instruments, automation, informatics and strategic services that accelerate workflows, deliver actionable insights and support improved decision making. We are also deeply committed to good corporate citizenship through our dynamic ESG and sustainability programs. The Company reported revenues of approximately $5 billion in 2021, serves customers in 190 countries, and is a component of the S&P 500 index. Additional information is available at www.perkinelmer.com. Follow PerkinElmer on LinkedIn, Twitter, Facebook, Instagram, and YouTube.

New Mountain Capital Media Contact
Dana Gorman / Matthew Butler
Abernathy MacGregor
212-371-5999
dtg@abmac.com / msb@abmac.com

PerkinElmer Contacts

Investor Relations:
Steve Willoughby
(781) 663-5677
steve.willoughby@perkinelmer.com

Media Relations:
Chet Murray
(781) 663-5719
chet.murray@perkinelmer.com

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Bluegem III acquires Nutrimuscle

Bleugem

On July 12, 2022, Bluegem Capital Partners acquired Nutrimuscle (the “Company”), the leading French digital D2C community-driven brand in sustainable active nutrition, from Groupe Finoli and the management team.

Théo-Ange Copolata, the current CEO and shareholder of the company will reinvest into the business and remain as CEO to lead its expansion in the coming years.

 Headquartered in Paris with manufacturing operations in Belgium, Nutrimuscle is a pioneer and digitally native D2C brand in the fast-growing sport and health supplement markets. Founded in 1993 as an answer to a lack of good quality sport supplements in Europe, Nutrimuscle has a differentiated and superior value proposition based on natural ingredients, organic & clean formulas and transparent sourcing. The Company benefits from a large and fast-growing community of brand lovers with long history of unparalleled loyalty, engagement and repeat purchase behaviour.

The Company has best-in class digital marketing, e-commerce and community-management capabilities surpassing industry standards. Its end-to-end vertically integrated business model allows full traceability and control over the entire value chain. Nutrimuscle has strong R&D capabilities in new product development and formulation leveraging on a highly skilled team and long-term relationships with leading suppliers. The Company has a proprietary portfolio of over 100 products and 850 SKUs.

Nutrimuscle is highly focused on ESG practices as an “Entreprise à Mission” and on its path to become certified B-Corp by 2023.

Groupe Finoli acquired, alongside Théo-Ange Copolata, Nutrimuscle in 2018 from the Company’s founder and successfully transformed the business to position it as a fast growing brand while maintaining its core values. Since 2018, Nutrimuscle generated impressive organic growth track record with best-in class profitability. Today the group has 62 employees distributed over France (Paris) and Belgium (Aubange).

Théo-Ange Copolata, Shareholder and CEO of Nutrimuscle said:

“I am thrilled to pursue the phenomenous brand expansion we had since 2018 thanks to the brilliant support of Groupe Finoli and look forward to achieve a great implantation in Europe alongside Bluegem support and expertise”

Mathieu Develay, Partner of Bluegem, commented:

“We are very excited to partner with Nutrimuscle and have been impressed by Nutrimuscle’s commitment to clean-ingredient, traceable products with ESG factors at the core of the company’s values. We look forward to helping Nutrimuscle educate the public on nutrition and wellness, and expand its offerings beyond Nutrimuscle’s native French market.”

Emilio Di Spiezio Sardo, Founding Partner of Bluegem commented:

“With an ever increasing focus on health and nutrition we believe Nutrimuscle is a fantastic addition to the Bluegem III portfolio, which includes a diverse range of resilient consumer brands underpinned by megatrend tailwinds.”

Pierre Juhen and Grégory Declercq, co-CEOs of Groupe Finoli added:

“We are delighted to have worked alongside Théo and his team to achieve the impressive growth journey of Nutrimuscle since 2018, and we believe the brand and the team are now ideally positioned to further develop their footprint in France and accelerate their internationalization with the support of a skilled shareholder”

On the buyside, Oaklins acted as M&A advisor,  Alvarez & Marsal advised on finance DD, Arsene Taxand advised on tax DD and Agilys Avocats acted as Bluegem’s legal advisor. Marlborough Partners acted as financing and debt advisor, with Céréa and Indigo providing debt financing, and debt and equity financing respectively.

J.P. Morgan acted as exclusive sell-side financial advisor to Groupe Finoli. BCG carried out the vendor commercial DD while KPMG performed the vendor financial / IT / legal and tax DD. McDermott Will & Emery AARPI and Jeausserand-Audouard acted respectively as legal advisors for the shareholders and the management team.

BLUEGEM CAPITAL PARTNERS

Bluegem is a specialist consumer-focused private equity firm that partners with management teams and founders to accelerate growth of strong consumer brands. With a track record of investing across Europe through different economic cycles, industry and market conditions, Bluegem have refined their investment strategy to focus on resilient consumer segments benefiting from secular megatrends, including Beauty and Personal Care; Household Care; Food and Beverage; Baby Care; Pet Care; Consumer Health and Nutrition; and Hobby and Craft. More information about Bluegem can be found at www.bluegemcp.com.

GROUPE FINOLI

Groupe Finoli is a French industrial conglomerate founded in 2008, mainly active in the fields of beauty, wellbeing and healthcare. Through its subsidiaries and activity, the Finoli Group has been pursuing a vision of long-term development for over 10 years and promoting strong values: Excellence, Innovation, Ethics and Merit. The Finoli Group is a private, independent company controlled and managed by its founders.

Groupe Finoli is growing, with approximately 150 staff, a consolidated turnover of about 50 million euros and equity capital of over 200 million euros. Positioned in particularly buoyant and resilient markets, the Finoli Group foresees its development continuing rapidly, both organically and through external growth.

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FDA Approves Arcutis’ ZORYVE™ (Roflumilast) Cream 0.3% For the Treatment of Plaque Psoriasis in Individuals Age 12 and Older

Frazier Helathcare partners
  • First and only topical PDE4 inhibitor approved for the treatment of plaque psoriasis, including intertriginous psoriasis
  • Approved for once-daily treatment in mild, moderate, and severe plaque psoriasis with no limitations on duration of use
  • Established efficacy – provides rapid clearance of plaques and reduction of itch in all affected areas of the body
  • Safe and very well-tolerated, steroid-free cream with minimal application site reactions
  • Commercial product expected to be available by mid-August
  • Management will host conference call on Monday, August 1 at 8:30 a.m. EDT
  • Arcutis expects to draw an additional $125 million from the Company’s debt facility with SLR Capital Partners

WESTLAKE VILLAGE, Calif., July 29, 2022 (GLOBE NEWSWIRE) — Arcutis Biotherapeutics, Inc. (NASDAQ: ARQT), an early commercial-stage biopharmaceutical company focused on developing meaningful innovations in immuno-dermatology, announced today that the U.S. Food and Drug Administration (FDA) has approved the New Drug Application (NDA) for ZORYVE (roflumilast) cream 0.3% for the treatment of plaque psoriasis, including intertriginous areas, in patients 12 years of age or older. The first and only topical phosphodiesterase-4 (PDE4) inhibitor approved for the treatment of plaque psoriasis, ZORYVE provides rapid clearance of psoriasis plaques and reduces itch in all affected areas of the body. ZORYVE — a once-daily, steroid-free cream in a safe and well tolerated, patient-friendly formulation — is uniquely formulated to simplify disease management for people living with plaque psoriasis.

“Today Arcutis has reached a major milestone, with our ability to offer this next generation topical PDE4 inhibitor to both adults and adolescents with plaque psoriasis. ZORYVE’s combination of efficacy, safety, and tolerability, coupled with our proprietary HydroARQ Technology formulation, is designed to fit into patients’ everyday lives with no restrictions on duration of use,” said Frank Watanabe, President and CEO of Arcutis. “Additionally, ZORYVE has been shown to rapidly clear plaques and reduce itch across all areas of the body. ZORYVE is the only topical for which data focused on the treatment of intertriginous plaques — a common area affected by plaque psoriasis — have been specifically generated. This FDA approval is the fruition of our efforts, and we are excited to launch ZORYVE, with expected product availability by mid-August.”

Topical therapies remain the primary treatment option for the vast majority of individuals with plaque psoriasis, a common immune-mediated skin disease that affects approximately nine million people in the U.S. and is the most frequent type of psoriasis occurring in both adults and adolescents. Severity can range between mild, moderate, and severe, with itch being the most burdensome and frequently reported symptom.

While the disease may affect any area of the body, plaques in certain areas, like the face, elbows and knees, genitalia, and intertriginous areas (areas of skin-to-skin contact), present unique treatment challenges. As a result, individuals with psoriasis are often prescribed multiple topical medications for different areas, which makes for a complicated treatment regimen.

“In multiple clinical trials, ZORYVE was proven to be safe and effective, with improvements in disease clearance in hard-to-treat areas like knees and elbows, as well as in sensitive areas such as the face, genitalia, and intertriginous areas. ZORYVE is very well tolerated, which is an important consideration for treating a chronic skin disease such as plaque psoriasis,” said Mark Lebwohl M.D., FAAD, principal investigator and Dean for Clinical Therapeutics and Chairman Emeritus of the Kimberly and Eric J. Waldman Department of Dermatology at the Icahn School of Medicine at Mount Sinai. “With this FDA approval, adults and adolescents with psoriasis and their dermatologists have a new steroid-free treatment option for use on all affected areas of the body.”

ZORYVE features HydroARQ Technology™, a proprietary drug delivery formulation that creates a non-greasy moisturizing cream that spreads easily and absorbs quickly.

“Plaque psoriasis is a challenging disease and finding the right treatment option can be complicated, especially if individuals have to use multiple treatments for different parts of their body. We welcome a new treatment option that can make a meaningful difference for adults and adolescents with plaque psoriasis,” says Leah M. Howard, President and CEO of the National Psoriasis Foundation. “Our hope is that new treatments translate into improved outcomes and help alleviate the burdens of chronic disease for people impacted by psoriasis.”

Arcutis intends to make ZORYVE widely available via key wholesaler and national dermatology pharmacy channels as a new treatment option by mid-August, and the Company is dedicated to affordable access to therapy. The ZORYVE Direct patient support program will help commercially insured individuals with plaque psoriasis get access and start ZORYVE treatment as prescribed by their healthcare provider quickly and easily by helping them navigate the payer process, lowering the out-of-pocket cost for eligible patients, and offering programs that support staying on therapy.† Arcutis will also offer the Arcutis Cares patient assistance program (PAP) – the first of its kind for a topical psoriasis treatment – that will provide ZORYVE at no cost for financially eligible patients who are uninsured or underinsured.‡

With this approval, Arcutis has access to, and plans to draw, an additional $125 million tranche as part of the Company’s non-dilutive financing agreement with SLR Capital Partners. Combined with the Company’s cash, cash equivalents, restricted cash, and marketable securities as of June 30, 2022, this additional $125 million will provide for capital resources of over $400 million to support the launch and commercialization efforts for ZORYVE, as well as continue to advance the Company’s pipeline development initiatives.

Management will host a conference call on Monday, August 1 at 8:30 a.m. EDT. Dial-in information for conference participants may be obtained by registering for the event here. A live webcast of the call and presentation material will be available on the “Events” section of the Company’s Investor website. An archived version of the webcast will be available on the Arcutis website after the call.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

ZORYVE Clinical Data

The approval is based on comprehensive results from the pivotal DERMIS-1 and DERMIS-2 (trials of PDE4 inhibition with Roflumilast for the Management of plaque psoriasIS One and Two) Phase 3 studies. In these trials, significantly more patients treated with ZORYVE achieved Investigator Global Assessment (IGA) success at Week 8 compared to vehicle (42% in DERMIS-1 and 37% in DERMIS-2 with ZORYVE compared to 6% in DERMIS-1 and 7% in DERMIS-2 with vehicle (P<0.0001 in both studies)). IGA success is defined as an IGA score of clear (0) or almost clear (1), plus a ≥2-grade IGA score improvement from baseline.

ZORYVE improved the severity and impact of itch, as early as Week 2. Two-thirds of patients with a Worst Itch-Numerical Rating Score (WI-NRS) of 4 or higher at baseline achieved a > 4-point reduction in itch at Week 8 with ZORYVE (67% vs. 26% in DERMIS-1 and 69% vs. 33% in DERMIS-2 at Week 8 (P<0.0001)).

ZORYVE is the only topical for which efficacy has been specifically demonstrated in the treatment of intertriginous psoriasis, as measured by Intertriginous IGA (I-IGA) Success (72% vs. 14% in DERMIS-1 and 68% vs. 17% in DERMIS-2 at Week 8 (P<0.0001)).

In both trials, ZORYVE was very well-tolerated with a favorable safety and tolerability profile. The most common adverse reactions reported in DERMIS-1 and -2 (≥1% of subjects treated with ZORYVE for 8 weeks), and for which the rate exceeded the rate for vehicle-treated patients, included diarrhea (3%), headache (2%), insomnia (1%), nausea (1%), application site pain (1%), upper respiratory tract infection (1%), and urinary tract infection (1%).

Of 239 individuals who continued treatment with ZORYVE for at least 52 weeks in an open-label long-term safety trial, 45% were evaluated as an IGA of “Clear” or “Almost Clear” at Week 52.

ZORYVE also demonstrated statistically significant improvements over vehicle on key secondary endpoints, including Psoriasis Area Severity Index-75 (PASI-75), and patient perceptions of signs and symptoms, such as itching, pain, and scaling, as measured by the Psoriasis Symptoms Diary (PSD). In both studies, ZORYVE improved overall signs and symptoms of psoriasis at Weeks 4 and 8 compared to vehicle.

Dr. Lebwohl reports receiving grant support and consulting fees from Arcutis Biotherapeutics.

About Psoriasis
Psoriasis is a common, non-contagious, immune-mediated skin disease that affects approximately nine million people in the United States. The majority of individuals with psoriasis develop “plaques,” or raised, red areas of skin covered with a silver or white layer of dead skin cells. The plaques’ clinical presentation may have more grayish, purplish, or brownish tones in people with darker skin tones. Psoriatic plaques are often itchy and sometimes painful and can appear on any area of the body. Plaques in certain anatomical areas present unique treatment challenges, including the face, elbows and knees, scalp, and intertriginous areas (where two skin areas may touch or rub together).

INDICATION

ZORYVE is indicated for topical treatment of plaque psoriasis, including intertriginous areas, in patients 12 years of age and older.

IMPORTANT SAFETY INFORMATION

The use of ZORYVE is contraindicated in patients with moderate to severe liver impairment (Child-Pugh B or C).

The most common adverse reactions (≥1%) include diarrhea (3%), headache (2%), insomnia (1%), nausea (1%), application site pain (1%), upper respiratory tract infection (1%), and urinary tract infection (1%).

Please see full Prescribing Information.

About Arcutis
Arcutis Biotherapeutics, Inc. (Nasdaq: ARQT) is a medical dermatology company that champions meaningful innovation to address the urgent needs of individuals living with immune-mediated dermatological diseases and conditions. With a commitment to solving the most persistent patient challenges in dermatology, Arcutis harnesses our unique dermatology development platform coupled with our dermatology expertise to build differentiated therapies against biologically validated targets. Arcutis’ dermatology development platform includes a robust pipeline with multiple clinical programs for a range of inflammatory dermatological conditions including plaque psoriasis, atopic dermatitis, and seborrheic dermatitis. For more information, visit www.arcutis.com or follow Arcutis on LinkedIn, Facebook, and Twitter.

Forward-Looking Statements
Arcutis cautions you that statements contained in this press release regarding matters that are not historical facts are forward-looking statements. These statements are based on the Company’s current beliefs and expectations. Such forward-looking statements include, but are not limited to, statements regarding the potential for ZORYVE to simplify disease management for care of plaque psoriasis; the Company’s expected timing and plan to commercially launch ZORYVE by mid-August; and the Company’s plan to draw down on its loan agreement. These statements are subject to substantial known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from the information expressed or implied by these forward-looking statements. Risks and uncertainties that may cause our actual results to differ include risks inherent in our business, conditions limiting our ability to access additional capital under our debt financing agreement, the impact of competition and other important factors discussed in the “Risk Factors” section of our Form 10-K filed with U.S. Securities and Exchange Commission (SEC) on February 22, 2022, as amended, as well as any subsequent filings with the SEC. You should not place undue reliance on any forward-looking statements in this press release. We undertake no obligation to revise or update information herein to reflect events or circumstances in the future, even if new information becomes available. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

Contacts:

Media
Amanda Sheldon, Head of Corporate Communications
asheldon@arcutis.com

Investors
Eric McIntyre, Head of Investor Relations
emcintyre@arcutis.com

† *Uninsured patients and patients with government insurance are not eligible for the ZORYVE Direct savings program; Other terms and restrictions apply

‡ Subject to financial eligibility requirements. Other terms and restrictions apply

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Stairlift producer Otolift brings investor NPM Capital on board

NPM Capital

Bergambacht, Koninklijke Otolift Trapliften, the Dutch market leader in the development, production, installation and maintenance of stairlifts, has reached an agreement with investment company NPM Capital to welcome them as a new shareholder. The family business, which was founded in 1891 and is currently led by its fourth generation, will bring a new family on board with NPM Capital, part of the multinational and family-owned company SHV.

With this transaction, Otolift does not only secure its shareholder base for the long term: the company will also be empowered to accelerate its current international expansion strategy and its growth in designated export markets. The family business exports stairlifts to 48 countries through its expansive dealership network and has multiple offices in the Netherlands, as well as local sales offices in Belgium, France, Italy, Spain, and the United Kingdom.

Over the last few years, Otolift benefitted from elevated sales and rentals of new and secondhand stairlifts. Under the leadership of the current Board, consisting of Jan Otto, André and Alex Ooms (the great grandchildren of founder Otto Ooms), Otolift grew into a significant European player with a total annual revenue of over €150M in 2021. Spread out over the company headquarters and the 15,000 square metre production hall in Bergambacht, the Netherlands, a second production site in Slovakia, and the company’s various daughter companies, the family business now employs approximately 700 people. In addition, the company has an expansive European service network: within the Netherlands alone, over 110 mechanics are on call to provide 24/7 service.

Otolift sees opportunities for growth in international markets, which can be capitalised on by opening new sales offices, among other things. Achieving this growth also requires further professionalisation of the business. “We believe we will be able to take this step faster, better, and more easily with an external investor on board. NPM Capital has the means, the knowhow, the long-term vision and the commitment to bring Otolift to a new stage of growth. The fact that NPM understands the dynamics of a family business is very appealing to us. NPM has a great deal of experience supporting companies of our type and size, with similar potential and growth ambitions. And they are familiar with the complexity and professionalisation efforts involved with that,” said the three Ooms brothers in a shared statement.

Innovative
Otolift is known to be very innovative. The company was the first to use production techniques like CNC-controlled lathes, robots, and lasers. Otolift developed its own app in-house, enabling sales consultants to accurately measure – down to the millimetre – any staircase within twenty minutes. A built-in Augmented Reality (AR) option then shows the customer precisely how the stairlift would look once installed. In 2016, the company launched the Otolift Modul-Air, a fully modular stairlift that enabled significant reductions of lead times. The rail is also unique: it is the most slender single rail in the world.

Otolift has won several awards in recent years, including the Smart Manufacturing Award and the Red Dot Design Award for the design of its stairlift.

Rutger Ruigrok, Managing Director of NPM Capital commented: “We consider the quality, sustainability and reusability of Otolift’s stairlifts to be major assets for the further growth of the business. Otolift is very accessible to end users as well, thanks to its short delivery times and its stairlifts’ compatibility with any type of staircase. This investment aligns perfectly with our strategic investment theme ‘Healthy Life’. As stairlifts enable growing numbers of people to live an independent life in their own homes and in their familiar environments for a longer time. We are impressed by the knowledge, expertise and engagement of Otolift’s teams and we look forward to working with them to help the company achieve further growth.”

The closing of the planned transaction is subject to the usual conditions applicable to transactions of this nature. The parties involved will not disclose any financial details of the acquisition.

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EQT Life Sciences announces its portfolio company NewAmsterdam Pharma going public

eqt

Leading institutional investors commit $235 million through an oversubscribed and upsized private investment in public equity (“PIPE”) led by Frazier Healthcare Partners and Bain Capital Life Sciences.

Total proceeds expected to bring pro forma cash balance to at least $470 million; expected to extend cash runway of NewAmsterdam through 2026, funding all expected pre-approval milestones for lead candidate obicetrapib, including readouts of Phase 3 PREVAIL study, a global cardiovascular outcomes trial (“CVOT”) and two other pivotal Phase 3 studies.

NewAmsterdam’s lead therapeutic candidate, obicetrapib, is a next-generation oral, low-dose and once-daily CETP inhibitor for which promising safety and >50% LDL-lowering efficacy has been observed on top of high-intensity statins in patients with dyslipidemia through Phase 2b, which could potentially serve a global population of over 30 million patients with unmet medical need in cardiovascular disease.

NewAmsterdam shareholders, Frazier Lifesciences Acquisition Corporation (Nasdaq: FLAC) shareholders and PIPE investors will hold ordinary shares in a newly formed company, NewAmsterdam Pharma Company N.V., which is expected to list its ordinary shares on Nasdaq under the ticker “NAMS”.

Merger expected to be completed in the second half of 2022.

EQT Life Sciences is happy to announce that its portfolio company NewAmsterdam Pharma Holding B.V. is entering into a merger agreement with Frazier Lifesciences Acquisition Corporation to create a publicly listed company focused on transformative oral therapies for major cardiometabolic diseases.

NewAmsterdam Pharma Holding B.V. (“Company”), a late clinical-stage company focused on the research and development of transformative oral therapies for major cardiometabolic diseases, and Frazier Lifesciences Acquisition Corporation (“FLAC”), a special purpose acquisition company sponsored by an affiliate of Frazier Healthcare Partners, today announced that they have entered into a definitive business combination agreement. Upon closing of the transaction, a newly formed holding company, NewAmsterdam Pharma Company N.V. (“NewAmsterdam”) will be led by Michael Davidson, M.D., Chief Executive Officer of the Company. NewAmsterdam’s ordinary shares are expected to be listed on Nasdaq under the ticker symbol “NAMS.”

NewAmsterdam is expected to receive approximately $235 million from an upsized and oversubscribed PIPE at $10.00 per share plus funds held in FLAC’s trust account following any redemptions. The PIPE was upsized from the initial target of $100 million due to significant investor demand. The PIPE was co-led by Frazier Healthcare Partners and Bain Capital Life Sciences, and includes new investors RA Capital Management, GMT Capital, Medicxi Ventures, Panacea Venture and other institutional investors, in addition to existing NewAmsterdam shareholders Forbion, LSP Dementia Fund and Morningside Ventures. The proceeds from this transaction, combined with the upfront payment of $123 million (€115 million) received from NewAmsterdam’s recently announced licensing agreement with the Menarini Group and NewAmsterdam’s existing cash and cash equivalents, would bring NewAmsterdam’s total pro forma cash balance to at least $470 million, which the Company believes would be sufficient to fund operations through 2026, beyond the readout of NewAmsterdam’s Phase 3 PREVAIL CVOT study and two other pivotal Phase 3 studies.

The transaction is expected to close in the second half of 2022, subject to approval by FLAC’s shareholders and the satisfaction or waiver of certain other customary closing conditions. The Boards of Directors of both the Company and FLAC have unanimously approved the transaction. Following the close of the transaction, James Topper, M.D., Ph.D., Managing Partner at Frazier Healthcare Partners and Chairman of the Board of Directors and Chief Executive Officer of FLAC, and Nicholas Downing, M.D., Principal at Bain Capital Life Sciences, will join the NewAmsterdam Board of Directors.

“Today’s announcement marks a major milestone for NewAmsterdam. We believe that the transaction, if consummated, would provide us with the necessary capital to fund our business through 2026 and beyond multiple Phase 3 data readouts for obicetrapib, including our ongoing cardiovascular outcomes trial, and a potential global product launch,” said Dr. Davidson. “Cardiovascular disease remains a significant unmet need and is the number one cause of death in western countries, with high LDL levels being the chief culprit responsible for adverse outcomes and two-thirds of patients not reaching LDL goals despite the wide availability of statins. Adding a potential new convenient oral therapy that has been observed to confer an additional 51% of LDL-lowering on top of high dose statins could transform the treatment paradigm for this large patient population. We are grateful to the FLAC team, as well as our new and existing investors, for their support throughout this transaction and look forward to a continued partnership as we mature into a publicly traded company and pursue our mission of improving patient care globally for this large patient population with substantial unmet need despite existing therapies.”

“We founded FLAC in hopes of acquiring a therapeutics-focused company with near-term inflection points, experienced and highly credentialed leadership and sufficient capital to support planned operations well into the future,” said James Topper, M.D., Ph.D., Managing Partner at Frazier Healthcare Partners and Chairman of the Board of Directors and Chief Executive Officer of FLAC. “We have found exactly this in NewAmsterdam. NewAmsterdam’s lead program, obicetrapib, is a potentially first- and best-in-class once-daily, oral CETP inhibitor, for which potent LDL-lowering activity on top of high-intensity statins and a positive safety and tolerability profile have been observed in clinical trials. We congratulate NewAmsterdam on their recent success in securing a $1B+ partnership with the Menarini Group for Europe and we are eager to support NewAmsterdam’s world-class team as it advances obicetrapib through Phase 3 development and aims to deliver a new transformative oral therapy to the tens of millions of people worldwide who remain at high-risk of experiencing a major adverse cardiac event, despite the availability of statins and other prescription therapies.”

Proceeds from the transaction are expected to provide NewAmsterdam with the capital needed to further develop obicetrapib through several value-creating clinical and regulatory milestones, including the following:

  • Data from the ongoing Phase 3 BROADWAY trial of obicetrapib in adults with heterozygous familial hypercholesterolemia (“HeFH”) and/or established atherosclerotic cardiovascular disease (“ASCVD”) who require additional lowering of low‑density lipoprotein cholesterol (“LDL-C”) on top of high intensity statins in 2024;
  • Data from the ongoing Phase 3 BROOKLYN trial of obicetrapib in adults with HeFH, whose LDL-C is not adequately controlled despite being on maximally tolerated lipid-modifying therapies in 2024;
  • Data from the ongoing Phase 3 PREVAIL study, a global cardiovascular outcomes trial, in patients with ASCVD who have inadequate control of their LDL-C despite being on maximally tolerated lipid-modifying therapies in 2026;
  • Data from the ongoing Phase 2b ROSE2 trial, evaluating the combination of obicetrapib with ezetimibe as an adjunct to high-intensity statin therapy in 2023;
  • Potential new drug application filings for obicetrapib in the United States, Europe, Japan and China and potential commercial launch.

Summary of Transaction
The closing of the business combination would bring NewAmsterdam’s total pro forma cash balance to at least $470 million, in addition to a total enterprise value to $326 million.

Current Company shareholders are converting 100% of their existing equity interests into ordinary shares of NewAmsterdam. In addition to the funds held in FLAC’s trust account following any redemptions, an additional group of premier healthcare investors has committed to participate in the transaction through an oversubscribed and upsized PIPE of approximately $235 million at $10.00 per share.

The Boards of Directors of both the Company and FLAC have unanimously approved the proposed transaction, which is expected to close in the second half of 2022, subject to the approval by FLAC’s shareholders and the satisfaction or waiver of certain other customary closing conditions.

The description of the business combination contained herein is only a high-level summary. Additional information about the transaction will be provided in a Current Report on Form 8-K to be filed by FLAC with the Securities and Exchange Commission (“SEC”) and will be available at www.sec.gov. In addition, NewAmsterdam intends to file a registration statement on Form F-4 with the SEC, which will include a proxy statement/prospectus, and will file other documents regarding the proposed transaction with the SEC.

Advisors
Credit Suisse Securities (USA) LLC is acting as lead PIPE placement agent, financial advisor and capital markets advisor to FLAC. Jefferies LLC, SVB Securities LLC and William Blair & Company, L.L.C. are also acting as PIPE placement agents to FLAC and Jefferies LLC and William Blair & Company, L.L.C. are also acting as financial advisor and capital markets advisor to FLAC. SVB Securities LLC is acting as financial advisor and capital markets advisor to the Company. Moelis & Co. is also acting as financial advisor to the Company. Covington & Burling LLP is acting as legal counsel to the Company. Goodwin Procter LLP is acting as legal counsel to FLAC. Kirkland & Ellis LLP is acting as legal counsel to the PIPE placement agents.

Important Information About the Merger and Where to Find it
A full description of the terms of the transaction will be provided in a registration statement on Form F-4 to be filed with the SEC by NewAmsterdam that will include a prospectus with respect to the NewAmsterdam securities to be issued in connection with the business combination and a proxy statement with respect to the shareholder meeting of FLAC to vote on the business combination. FLAC, the Company and NewAmsterdam urge its investors, shareholders and other interested persons to read, when available, the preliminary proxy statement/prospectus, as well as other documents filed with the SEC, because these documents will contain important information about FLAC, the Company, NewAmsterdam and the transaction. After the registration statement is declared effective, the definitive proxy statement/prospectus to be included in the registration statement will be mailed to shareholders of FLAC as of a record date to be established for voting on the proposed business combination. Once available, shareholders of FLAC will also be able to obtain a copy of the Form F-4, including the proxy statement/prospectus, and other documents filed with the SEC without charge, by directing a request to: Frazier Lifesciences Acquisition Corporation, Two Union Square, 601 Union St., Suite 3200, Seattle, WA 98101, Attn: Secretary. The preliminary and definitive proxy statement/prospectus to be included in the registration statement, once available, can also be obtained, without charge, at the SEC’s website at www.sec.gov.

Participants in the Solicitation
FLAC, the Company and NewAmsterdam and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from FLAC’s shareholders in connection with the proposed transaction. Information about the directors and executive officers of FLAC is set forth in FLAC’s annual report on Form 10-K filed with the SEC on March 25, 2022 and is available free of charge at the SEC’s website at www.sec.gov or by directing a request to: Frazier Lifesciences Acquisition Corporation, Two Union Square, 601 Union St., Suite 3200, Seattle, WA 98101, Attn: Secretary. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of FLAC’s shareholders in connection with the potential transaction will be set forth in the registration statement containing the preliminary proxy statement/prospectus when it is filed with the SEC. These documents can be obtained free of charge from the sources indicated above.

Non-Solicitation
This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed business combination and shall not constitute an offer to sell or a solicitation of an offer to buy any securities nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act.

Forward-Looking Statements
Certain statements included in this document that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward looking statements include, but are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity; expectations and timing related to the success, cost and timing of product development activities, including timing of initiation, completion and data readouts for clinical trials and the potential approval of NewAmsterdam’s product candidate; the size and growth potential of the markets for NewAmsterdam’s product candidate; the therapeutic and curative potential of NewAmsterdam’s product candidate; financing and other business milestones; potential benefits of the proposed transactions; and expectations relating to the proposed transactions, including the proceeds of the business combination and NewAmsterdam’s expected cash runway. These statements are based on various assumptions, whether or not identified in this document, and on the current expectations of NewAmsterdam’s, the Company’s and FLAC’s management and are not predictions of actual performance. These forward looking statements are provided for illustrative purposes only and are not intended to serve as and must not be relied on as a guarantee, an assurance, a prediction, or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from assumptions. Many actual events and circumstances are beyond the control of NewAmsterdam, the Company and FLAC. These forward looking statements are subject to a number of risks and uncertainties, including changes in domestic and foreign business, market, financial, political, and legal conditions; the inability of the parties to successfully or timely enter into definitive agreements with respect to the proposed transactions or consummate the proposed transactions, including the risk that any regulatory approvals are not obtained, are delayed or are subject to unanticipated conditions (such as any SEC statements or enforcements or other actions relating to special purpose acquisition companies) that could adversely affect NewAmsterdam or the expected benefits of the proposed transactions, or the risk that the approval of the shareholders of FLAC, the Company or NewAmsterdam is not obtained; failure to realize the anticipated benefits of the proposed transactions; matters discovered by FLAC, the Company or NewAmsterdam as they complete their respective due diligence investigations of each other; risks relating to the uncertainty of the projected financial information with respect to NewAmsterdam and the Company; risks related to the approval of NewAmsterdam’s product candidate and the timing of expected regulatory and business milestones; ability to negotiate definitive contractual arrangements with potential customers; the impact of competitive product candidates; ability to obtain sufficient supply of materials; the impact of COVID 19; global economic and political conditions, including the Russia-Ukraine conflict; the effects of competition on NewAmsterdam’s future business; the amount of redemption requests made by FLAC’s public shareholders; and those factors discussed in documents FLAC has filed or will file with the SEC, including the other risks and uncertainties described in the “Risk Factors” section of FLAC’s registration statement on Form S-1, as amended (File No. 333-250858), the registration statement to be filed on Form F-4 in connection with the proposed transactions and other documents filed from time to time. Additional risks related to NewAmsterdam’s business include, but are not limited to: uncertainty regarding outcomes of NewAmsterdam’s ongoing clinical trials, particularly as they relate to regulatory review and potential approval for its product candidate; risks associated with NewAmsterdam’s efforts to commercialize a product candidate; NewAmsterdam’s ability to negotiate and enter into definitive agreements on favorable terms, if at all; the impact of competing product candidates on NewAmsterdam’s business; intellectual property related claims; NewAmsterdam’s ability to attract and retain qualified personnel; ability to continue to source the raw materials for its product candidate. If any of these risks materialize or FLAC’s, the Company’s or NewAmsterdam’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither FLAC, the Company nor NewAmsterdam presently know or that FLAC, the Company and NewAmsterdam currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect FLAC’s, the Company’s and NewAmsterdam’s expectations, plans, or forecasts of future events and views as of the date of this document and are qualified in their entirety by reference to the cautionary statements herein. FLAC, the Company and NewAmsterdam anticipate that subsequent events and developments will cause FLAC’s, the Company’s and NewAmsterdam’s assessments to change. These forward-looking statements should not be relied upon as representing FLAC’s, the Company’s and NewAmsterdam’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements. Neither FLAC, the Company, NewAmsterdam nor any of their respective affiliates undertake any obligation to update these forward-looking statements, except as required by law.

NewAmsterdam or Company Media Contact
Spectrum Science on behalf of NewAmsterdam
Carmen Lopez
P: 1 773-306-6285
clopez@spectrumscience.com

NewAmsterdam or Company Investor Contact
Stern Investor Relations on behalf of NewAmsterdam
Hannah Deresiewicz
P: 1 212-362-1200
hannah.deresiewicz@sternir.com

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

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AbbVie and iSTAR Medical Announce Strategic Alliance for the Treatment of Glaucoma

GIMV
  • Alliance will provide opportunity for AbbVie to further expand its diverse eye care portfolio and provide additional treatment options for glaucoma patients
  • Collaboration further supports the role of MINIject® in the treatment of glaucoma and accelerates goal to bring MINIject to more patients globally
  • Deal terms include a $60M upfront payment to iSTAR Medical
  • iSTAR Medical to continue development and commercialization of the MINIject device up to completion of the U.S. PMA study

NORTH CHICAGO, Ill. and WAVRE, BELGIUM, July 20, 2022 – AbbVie (NYSE: ABBV) and iSTAR Medical SA, today announced a strategic transaction to further develop and commercialize iSTAR Medical’s MINIject® device, a next-generation minimally invasive glaucoma surgical (MIGS) device for patients with glaucoma. This complementary alliance will support iSTAR Medical’s development and commercial efforts for MINIject®, as well as provide an opportunity to expand AbbVie’s eye care business, building on its glaucoma portfolio which includes drops, sustained release implants, and stent offerings.

MINIject® received Conformité Européenne (CE) marking approval to commercialize in European countries in the last quarter of 2021 and launched commercially in select European countries in early 2022. iSTAR Medical is currently enrolling a U.S. Pre-Market Approval study (STAR-V) to enable commercialization in the U.S.

“As a leading company in eye care with a commitment to a broad and diverse portfolio from the front to the back of the eye, along with our global footprint and infrastructure in glaucoma, we are well-positioned to support bringing this MIGS offering to patients and glaucoma specialists through this strategic alliance,” said Michael Robinson, M.D, Vice President, Global Therapeutic Area Head of Eye Care, AbbVie. “This alliance with iSTAR Medical is an important step as we continue to be an innovator in glaucoma by maximizing the value of interventional approaches throughout the treatment paradigm.”

“Today’s announcement is validation of the transformational role of MINIject in the treatment of glaucoma,” said Michel Vanbrabant, Chief Executive Officer, iSTAR Medical. “Our commitment has always been to enable more glaucoma patients globally to be treated effectively in a minimally-invasive manner with our MINIject® MIGS device, and this alliance accelerates that goal, especially in the United States. We will benefit from AbbVie’s strong global experience and knowledge base already established in glaucoma, and we are excited to be working with such a world class team.”

You can download the full press release in pdf.

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Intelerad announces significant investment from TA to accelerate growth

HG Capital

TA joins Hg and ST6 in supporting Intelerad to advance clinical efficiency and patient care through innovative medical imaging technology.

RALEIGH, NC and MONTREAL, CANADA, July 14, 2022 – Intelerad, a leading global provider of enterprise medical imaging solutions, today announced that TA Associates (“TA”), a leading global growth private equity firm, has signed a definitive agreement to make a growth investment in the company. TA joins Intelerad’s majority investor, Hg, a leading software and services investor, and ST6, a highly experienced team of software operating executives and minority investor. The transaction is expected to close in the third quarter of 2022 pending customary regulatory approval.

“We’re excited to welcome TA as a partner on our continued journey to improve healthcare through innovative technology. With their deep industry knowledge and experience scaling healthcare technology companies, the addition of TA and continued support from Hg will help Intelerad to significantly advance our growth strategy and value to customers.”

Mike Lipps, CEO of Intelerad

Founded in 1999, Intelerad provides medical imaging software and enterprise workflow solutions to healthcare providers worldwide. Headquartered in Raleigh, NC and Montreal, Canada, the company serves nearly 2,000 customers around the world, including radiology groups, outpatient imaging centers, hospitals and healthcare systems, managing over 50 billion medical images and empowering more than 300,000 clinicians, who collectively read over 140 million exams on Intelerad’s platform each year.

“We have followed Intelerad for several years and continue to be impressed by its differentiated solutions, strong growth and leadership position.”

Mark Carter, a Managing Director at TA.

“Building on its momentum in the sector, we believe Intelerad is well positioned to further strengthen and expand its suite of solutions. We are supportive of Intelerad’s vision and excited to join the team as it enters the next phase of its growth journey,”

Ethan Liebermann, a Managing Director at TA

“Intelerad has built a platform that is making a difference in patient care by enabling significant efficiencies and speed-to-results for healthcare organizations. We’re proud to have supported the Intelerad team, who have achieved significant progress in such a short period, doubling the size of the business in two years.”

Hector Guinness and JB Brian, Partners at Hg

Globally, demand for scalable imaging and workflow solutions continues to increase as imaging sites consolidate and the volume of procedures grows, placing greater pressure on productivity. Intelerad’s growth strategy is to provide customers with one of the most scalable imaging platforms in the world, and as a result, Intelerad customers are already benefiting from an expanded suite of solutions, best-in-class flexibility, and increased support which will enable them to drive clinical efficiency and focus on providing enhanced patient care.

“The COVID-19 pandemic has intensified the challenges facing this industry and accelerated the demand to improve patient care. Intelerad has recognized this need and is actively working to make its customers more productive, more agile, and more responsive. We look forward to partnering with TA to promote organic development and pursue strategic growth opportunities. The new investment from TA will help Intelerad further deliver the critical value that our customers need right now.”

Mark Friedman, Intelerad Executive Chairman and Managing Director at ST6.

Kirkland & Ellis is providing legal counsel to TA. Skadden, Arps, Slate, Meagher & Flom LLP, DLA and McCarthy Tétrault LLP are providing legal counsel to Hg and Intelerad.

For further details:

Hg
Tom Eckersley
+44 (0)208 148 5401

Brunswick
Azadeh Varzi
+44 (0)207 404 5959

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Gimv transfers stake in the Eurocept group – active in

GIMV

Topic: Divestment

Throughout the Gimv investment period, the Eurocept group (“Eurocept”) has grown impressively by broadening its medical homecare services in the Benelux and by transforming its pharma company into a global rare disease player.

In 2014 Gimv acquired a minority stake in Eurocept Group, consisting of Eurocept Homecare, Da Vinci Clinic and Eurocept Pharmaceuticals. After a period of successful growth and business development, Gimv has decided to sell its share back to the founder Mike Van Woensel. Eurocept Homecare (Houten – NL, https://www.eurocept-homecare.nl/) is a pioneer in the provision of specialist medical home treatments in the Netherlands. In recent years, the company has been able to expand its product and service portfolio from pharma distribution and infusion therapies at the patient’s home to a full ‘Hospital-at-home’ offering with nutrition, home/kidney dialysis, infusion care, complex wound care and oncology aftercare in the Benelux. Besides organic growth the company also pursued an active buy-and-build strategy, including the strategic acquisitions of a.o. Medizorg, Jadim and the Da Vinci Clinic. The latter consisting of a chain of outpatient clinics for complex wound care and hyperbaric oxygen therapy (a.o. for onco aftercare). All this is done in close cooperation with hospitals, medical specialists as well as pharma companies via the so-called care pathways. This has resulted in an enormous increase of quality care for patients with often an irremediable scenario. This has turned Eurocept Homecare into one of the most innovative frontrunners in hospital-at-home care in Europe.

Eurocept Pharmaceuticals (Ankeveen – NL, https://www.euroceptpharma.com) is specialized in the development, production, registration, pharmacovigilance, marketing and sales of (mainly) rare disease pharma products. Over the past years significant efforts and investments have been made in developing a platform infrastructure from outsourced production to marketing & sales of specialty pharma products. In addition, the company acquired new assets (i.e. pain relief, metabolic diseases) and expanded its geographic footprint from Benelux to a worldwide player successfully filing its first product in the USA in 2022. Eurocept Pharmaceuticals leverages its portfolio of owned assets and selective exclusive distribution acquisitions to continue to grow rapidly in the coming years. Eurocept Pharmaceuticals has continuous focus on patients with the goal to simplify the treatment relationship between patient and physician by improving accessibility, quality and reliability of (rare disease) pharmaceuticals.

Mike van Woensel, CEO and founder of Eurocept Group, says: “Gimv has always supported our ambitions of growth and assisted the leadership teams in strategic choices. We have had years of great partnership building on each other’s strengths to fulfill the needs of patients and develop the business. We are amongst others proud at the support received regarding innovation such as hemodialysis at home and on building our own specialty pharma platform and portfolio. Together we have built a leading company, putting patients at the heart of all we do, that is now ready for the next stage of growth”.

Elderd Land, Partner in Gimv’s Healthcare platform, says: “We are proud that we were able to support Eurocept as an innovative company in its expansion of its service offering and geographies covered, resulting in a beautiful growth story. The vision and determination of Mike van Woensel and his teams were absolutely vital in this respect. Through our collaboration we have developed a scalable company that is well positioned to grow further, offering better quality, more affordable and effective care to more patients”.

The transaction is subject to the usual terms and conditions, including the approval of the healthcare authorities. It has no significant impact on the Net Asset Value of Gimv as of 31 March 2022. No further financial details will be disclosed.

 

Read the full document

English – French – Dutch
 

Gimv

Karel Oomsstraat 37, 2018 Antwerpen, Belgium

www.gimv.com

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Francisco Partners Completes Acquisition of IBM’s Healthcare Data and Analytics Assets;

Truewind

Launches Healthcare Data Company Merative

Merative will deliver industry-leading data and technology across the healthcare value chain

SAN FRANCISCO, CA – June 30, 2022 – Francisco Partners, a leading global investment firm that
specializes in partnering with technology businesses, today announced that it has completed the
acquisition of healthcare data and analytics assets that were part of IBM’s (NYSE: IBM) Watson Health
business, previously announced in January.

Under the ownership of Francisco Partners, the new standalone company will be called Merative and will
be headquartered in Ann Arbor, Michigan.

Merative brings together market-leading offerings that deliver value across the global healthcare
ecosystem, serving clients in life sciences, provider, imaging, health plan, employer, and government
health and human services sectors.

Seasoned healthcare CEO Gerry McCarthy has been tapped to lead the new organization. McCarthy has
been in healthcare information technology for 30 years, most recently serving as CEO of eSolutions, a
Francisco Partners portfolio company, which exited to Waystar in October 2020. Prior to eSolutions,
Gerry was the President of TransUnion Healthcare and an executive at McKesson.

“Merative has market leading products, top clients and talented leadership,” said McCarthy. “With the
commitment, support and deep experience of Francisco Partners, we will invest heavily in expanding the
reach of these products as we continue to work with clients to improve healthcare delivery, decision
making and performance.”

Paul Roma, General Manager of the Watson Health business, will be transitioning to Senior Advisor to
Francisco Partners. McCarthy said, “Paul has been instrumental in driving crucial transformation of the
business. His relentless focus on customers has laid a solid foundation to build on, and we thank him for
his leadership.”

Merative’s products will be organized into six product families, including Health Insights; MarketScan;
Clinical Development; Social Program Management and Phytel; Micromedex, and Merge Imaging
solutions. Francisco Partners’ investment will provide Merative with significant resources and
opportunities for new investment, acquisitions, partnerships, and growth.

“Francisco Partners is excited about the opportunity to partner with the team and employees at Merative
to help them achieve their mission, bringing technology and expertise to clients across healthcare through
industry-leading data and analytics solutions,” said Ezra Perlman and Justin Chen of Francisco Partners.

“We appreciate IBM’s work in developing this business, and our ownership will help Merative drive
crucial focus in executing on organic and inorganic growth strategies.”

True Wind Capital and Sixth Street are investing in Merative. True Wind Capital is a San Francisco-based
private equity firm focused on investing in leading technology companies, and the team has a longstanding track record of partnering with healthcare businesses. Sixth Street is a global investment firm
that uses its long-term flexible capital, data-enabled capabilities, and One Team culture to develop themes
and offer solutions to companies across all stages of growth.

Deutsche Bank served as exclusive financial advisor and Kirkland & Ellis LLP served as legal advisor to
Francisco Partners.

About Francisco Partners
Francisco Partners is a leading global investment firm that specializes in partnering with technology and
technology-enabled businesses. Since its launch over 20 years ago, Francisco Partners has invested in
over 400 technology companies, making it one of the most active and longstanding investors in the
technology industry. With more than $45 billion in assets under management, the firm invests in
opportunities where its deep sectoral knowledge and operational expertise can help companies realize
their full potential. For more information on Francisco Partners, please visit www.Franciscopartners.com.

About Merative
Merative is a data, analytics and technology partner for the global health industry – including providers,
payers, life sciences companies and governments. With trusted technology and human expertise, the
company works with clients to drive real progress. Merative helps clients orient information and insights
around the people they serve to improve healthcare delivery, decision making and performance. Formerly
IBM Watson Health, Merative became a new standalone company under Francisco Partners’ ownership in
2022. Learn more at www.merative.com.

Media Contacts

For Francisco Partners & Merative:
Whit Clay
wclay@sloanepr.com

Sarah Braunstein
sbraunstein@sloanepr.com

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