Heart Medical Europe BV is a distributor of interventional (paediatric) cardiology, interventional radiology and cardio-thoracic surgery products in the Benelux. As a Belgian top player and reference in the distribution of medical and paramedical products, Arseus Medical wants to be a partner in innovation for the healthcare sector and offer their customers the best brands in their domain.
We are convinced that this partnership makes both the Arseus Medical Group and Heart Medical Europe BV a lot stronger. The motto of our group is ‘Together strong in patient care’. As a distributor, we want to be a partner to our customers in the healthcare sector in terms of
innovation and expertise. We want to be a house of specialists that our customers can rely on. And Heart Medical’s philosophy fits in nicely with that. The extensive expertise of their people over the years has enabled them to build a strong position and make a difference for their customers.
We look forward to setting out on the road to further growth and innovation together in 2022.
Latest investment will help fuel the next phase of RLDatix’s rapid growth in governance, risk and compliance while accelerating its mission of making healthcare safer around the world
RLDatix, the international leader in governance, risk and compliance (GRC) solutions for healthcare, announced today that Nordic Capital has made a minority equity investment in the company. Existing investors Five Arrows and TA Associates will continue to maintain a majority equity stake. Financial terms of the transaction were not disclosed.
Nordic Capital brings decades of experience supporting the growth of innovative healthcare IT companies as well as additional financial strength and is joining Five Arrows and TA to support RLDatix in its organic and inorganic growth objectives. Most recently, RLDatix acquired Allocate Software, the leading provider of human capital management solutions that help healthcare organizations deliver safe and effective care.
“We are excited to welcome Nordic Capital to our collaborative team of strategic investors,” said Jeff Surges, CEO, RLDatix. “Nordic Capital offers the right balance of global reach, domain expertise and capital strength, that we need in our next phase of rapid growth. With this investment, we are well poised to accelerate our journey as the leading provider of SaaS solutions that make healthcare safer for patients, the workforce and organizations alike. I would also like to thank all of our employees, as well as our current investors Five Arrows and TA, for their incredible support in helping us evolve into a global healthcare IT leader and look forward to continuing the partnership in this next chapter of our growth.”
About RLDatix
RLDatix is on a mission to change healthcare. We help organizations drive safer, more efficient care by providing governance, risk and compliance tools that drive overall improvement and safety. Our suite of cloud-based software helps organizations report on adverse events, reduce healthcare-acquired infections and ensure patient safety learnings are implemented across the continuum of care. With more than 5,000 customers in over 20 countries, RLDatix software protects hundreds of millions of patients around the world. RLDatix is controlled by Five Arrows, TA Associates and Nordic Capital as major shareholders. For more information, visit www.rldatix.com.
About Nordic Capital
Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and selectively, Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested more than EUR 19 billion in over 120 investments. The most recent entities are Nordic Capital X with EUR 6.1 billion in committed capital and Nordic Capital Evolution with EUR 1.2 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland, Norway and South Korea. For further information about Nordic Capital, please visit www.nordiccapital.com.
“Nordic Capital” refers to, depending on the context, any, or all, Nordic Capital branded entities, vehicles, structures and associated entities. The general partners and/or delegated portfolio managers of Nordic Capital’s entities and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors”
About Five Arrows
Five Arrows Principal Investments (FAPI) and Five Arrows Capital Partners (FACP) (together, “Five Arrows”) are the European and US corporate private equity arms, respectively, of Rothschild & Co’s Merchant Banking business. Five Arrows is focused on investing in middle-market companies with highly defensible market positions; strong management teams; business models with high visibility of organic unit volume growth and strong free cash flow conversion; and multiple operational levers that can be used to unlock latent value. The sector focus at Five Arrows is limited to healthcare, data & software and technology-enabled business services.
About TA Associates
TA is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – the firm invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 550 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $47.5 billion in capital since its founding in 1968. The firm’s more than 100 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA can be found at www.ta.com.
Successor Fund Reaffirms Firm’s Commitment to Investing in Innovative Health Care Growth Companies
MENLO PARK, Calif. & NEW YORK–(BUSINESS WIRE)– KKR, a leading global investment firm, today announced the final closing of KKR Health Care Strategic Growth Fund II (“HCSG II” or the “Fund”), a $4.0 billion fund dedicated to health care growth equity investment opportunities primarily in North America and Europe.
HCSG II is the successor fund to KKR Health Care Strategic Growth Fund (“HCSG I”), KKR’s first dedicated health care growth equity vehicle, which held its final closing in November 2017 on $1.45 billion in capital commitments. Similar to its predecessor fund, HCSG II will aim to generate strong returns for clients by investing in innovative health care companies with proven products and services that are seeking a partner to commercialize and scale. With a diversified portfolio approach, HCSG II will focus on the biopharmaceutical, medical device, health care services, life science tools / diagnostics, and health care information technology sub-sectors.
“Now more than ever there is a significant demand both for innovative products and services in the health care sector and for an experienced and flexible capital partner to invest in their growth and further their reach,” said Ali Satvat, Partner, Global Head of Health Care Strategic Growth, and Co-Head of Americas Health Care Private Equity at KKR. “Building on the robust momentum and tangible results that we have achieved thus far through HCSG I, we look forward to continuing to partner with best-in-class health care businesses to bring these much-needed products and services to market for the benefit of patients globally while delivering strong returns for our investors.”
HCSG II received strong support from a diverse group of both new and existing investors globally, including public pension plans, sovereign wealth funds, insurance companies, financial institutions, endowments, private wealth and fintech platforms, family offices, and high-net-worth individual investors. KKR will be investing approximately $500 million of capital in the Fund alongside these investors through the Firm’s balance sheet, affiliates, and employee commitments.
“We are pleased to have the backing of this diverse group of investors who share our passion for the opportunities that we see in this growing market,” said Alisa Amarosa Wood, Partner and Head of the Private Markets Strategies Group at KKR. “At nearly three times the size of its predecessor, HCSG II not only speaks to the attractive investment opportunities that we are seeing but also demonstrates the strength of our health care investment team, our Health Care Strategic Growth strategy, and our strong investment performance to date.”
KKR has established a strong track record of supporting companies across the health care ecosystem, having invested approximately $18 billion across the sector since 2004. KKR’s health care team has grown to nearly 35 dedicated investment professionals globally. In addition to providing capital, the Firm helps companies grow through its industry experience and relationships, operational expertise, global infrastructure, and resources from more than 100 portfolio companies worldwide. In 2021, KKR executed a number of new investments as part of its Health Care Strategic Growth initiatives, including in Argenta, Nordic Bioscience, Sapphiros, Geode Health, and Cordis.
About KKR
KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit, and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life, and reinsurance products under the management of The Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.
Revolutionizing Modern Healthcare through a Unique RPM Solution
January 9, 2022 · New Investment
When it comes to healthcare, the United States has become a leader in strategic innovations to improve patient care, outcomes, and the patient experience. That said, when it comes to chronic conditions that plague millions of Americans annually, there are few resources available to maintain top-tier healthcare from home. However, Welby Health, whose revolutionary WelbyCare platform to enhance at-home, longitudinal care, has recently closed a seed funding round from New Stack Ventures. The capital infusion will help Welby progress toward its goal to offer physicians and patients across the nation access to best-in-class support for the management of chronic diseases.
Created by doctors, for doctors, the WelbyCare platform was designed to help physicians manage patients with chronic conditions and complex health needs from their homes. CEO Seth Merritt works with an outstanding clinical team led by Dr. Taib Rawi, to ensure that the WelbyCare program is an extension of clinical practices, and provides physicians and patients greater support in managing chronic health conditions like diabetes and hypertension. Welby is combining a licensed clinical staff with hardware and software–including biometric data collection and digital engagement tools–to support physician offices in promoting patient engagement outside of the clinic.
“Physicians are already overworked, and asking them to take the burden of managing patients outside of the clinic themselves is just not realistic. By providing an opportunity to promote our tech-enabled clinical services to more physicians, we will be able to impact the lives of more patients and help them improve their health outcomes while also helping physicians get more enjoyment out of their profession” says Merritt.
In addition to a state-of-the-art remote patient monitoring program, the WelbyCare platform provides clinics with nationally recognized and clinically validated care guidelines to generate patient-specific care plans that comply with NCQA requirements for value-based care. Access to this level of clinical support would typically cost a clinic more than $20K annually to license and deploy, but the WelbyCare platform provides access to these guidelines to all participating clinics for no additional cost or fees, enabling the greatest possible outcomes from their remote patient monitoring programs.
By partnering with New Stack Ventures, Welby Health will be able to leverage its proprietary technology platform to break into new markets, reach new physicians, and partner with renowned clinics across the country to bring the future of healthcare to the millions of Americans requiring oversight to their chronic conditions while reducing the total cost of care. WelbyCare leverages the expertise of registered nurses and certified case managers for all patient-facing interactions, as opposed to other programs that often use non-clinically trained administrative staff that may satisfy regulatory requirements but have failed to deliver significant clinical results that physicians are looking for.
Austin Ju, deal lead at New Stack Ventures noted, “Remote patient monitoring is one of the fastest-growing segments in healthcare, projected to reach $117B by 2025. Despite this, existing solutions face poor adoption and retention. Welby’s white-gloved approach with their clinical partners addresses these major concerns.”
ProcessMap partners with Hg, a global software investor, to accelerate its strategy towards becoming a global software leader in worker health and safety management
Hg’s strategic investment will accelerate ProcessMAP’s position towards a category leader in the rapidly growing EHS Risk and Compliance software sector.
Ft. Lauderdale, Florida, USA and New York, New York, USA. 5 January 2022.
ProcessMAP Corporation (“ProcessMAP”), a leading Environmental, Health and Safety (“EHS”) software platform provider, announced today that Hg, a leading software and services investor with nearly $40 billion funds under management, has agreed to make a significant investment in the business to accelerate ProcessMAP’s growth and expansion, and help solidify the company’s position as a global leader in the EHS software sector.
Following the transaction, ProcessMAP’s management team will retain a significant stake in the business. The terms of the transaction are not disclosed.
Founded in 2000, ProcessMAP’s vision is to enable businesses to proactively mitigate workplace health and safety risks for workers. ProcessMAP’s SaaS and mobile solutions serve mid-market and enterprise customers across large industry verticals such as automotive and manufacturing. ProcessMAP’s solutions are used by global customers in more than 140 countries, covering 2 million workers across 80,000 sites. Headquartered in Florida, ProcessMAP has nearly 300 employees based in the USA, Canada, the UK, Germany and India. The company is regularly recognized as a “Leader” in the biennial Green Quadrant report for EHS software published by Verdantix, an independent industry analyst for the EHS sector.
Accelerating the Innovation Momentum for ProcessMAP Customers
ProcessMAP will leverage the financial investment as well as Hg’s 20+ years of industry-leading experience in building and rapidly growing innovative software businesses. The financial partnership with Hg will also enable ProcessMAP to deliver next-generation, smart and connected EHS solutions to its customers globally. Additionally, the company will also make investments to expand its team globally, strengthen its position further, and broaden its global customer base, particularly in Europe and Asia-Pacific.
Comments on the News
“We share our customers’ commitment to create and offer the safest and the healthiest workplaces, while minimizing the environmental impact of day-to-day operations. Bringing in Hg to invest in our business comes at a very interesting time as we see an opportunity to help customers protect millions more workers globally.”
Dave Rath, CEO and Co-Founder of ProcessMAP
“This partnership, built on software knowledge and experience, will enable us to develop our analytics-driven software further, helping more customers across the globe optimize their EHS processes while, critically, mitigating operational and sustainability risk.”
Jagan Garimella, CTO and Co-Founder of ProcessMAP
“Hg has been focused on risk and compliance software for two decades and we see strong tailwinds continuing to drive demand in this sector. The impressive work from Dave Rath, Jagan Garimella, and the team means that ProcessMAP is well-positioned to benefit from this dynamic. They’ve built a high-quality platform which receives consistent, strong feedback from a loyal customer base. We believe that together, Hg and ProcessMAP, will form a strong partnership and we look forward to supporting the team, investing in the business and continuing to realize its growth potential.”
KPMG Corporate Finance acted as the exclusive investment banking advisor to ProcessMAP.
Media Contacts
Hg
Tom Eckersley
Tom.Eckersley@hgcapital.com
+44 208 148 5401
Alex Yankus and Harry Mayfield (Brunswick, USA)
+1 917 818 5204
ProcessMAP
Sandeep Rath
Director, Global Product Marketing and Analyst Relations
srath@processmap.com
About ProcessMAP Corporation
ProcessMAP Corporation is the most trusted name for a digitization and process transformation platform that empowers customers to ensure workers’ health & safety, minimize risk, and assure compliance. The ProcessMAP Platform includes solutions for Environmental, Health and Safety (EHS), Environmental, Social and Governance (ESG), and Operational Risk Management (ORM), Industrial IoT, and actionable data analytics to connect people, systems, assets, and facilities to drive a Sustainable Enterprise. ProcessMAP is headquartered in Ft. Lauderdale, Florida, with locations across the globe, serving customers in over 140 countries. Visit https://www.processmap.com/ to learn more.
About Hg
Hg is a growth platform for software and services champions, focused on backing businesses that change how we all do business. Deep technology expertise, complemented by vertical application specialisation and dedicated operational support, provides a compelling proposition to management teams looking to scale their businesses. Hg has funds under management of around $40 billion, with an investment team of over 140 professionals, plus a portfolio team of around 40 operators, providing practical support to help our businesses to realise their growth ambitions. Based in London, Munich and New York, Hg has a portfolio of over 35 software and technology businesses, worth around $92 billion aggregate enterprise value, with over 55,000 employees globally, growing at over 20% per year. Visitwww.hgcapital.com for more information.
Metals business will become Resolve Surgical Technologies
Tissues & Biologics business will retain the RTI Surgical name
RTI Surgical, a global private label OEM company, announced today that the company will spin off its Metals business, creating two independent companies that are focused on the needs of customers and patients in their distinct market segments. Ownership of both companies will be retained by Montagu, a leading private equity firm specialized in finding and growing businesses that make the world work.
As industry-leading surgical implant suppliers, both businesses partner with leading medical technology companies to design and develop medical devices. The spin-off will reinforce market focus for both the Metals and Tissue & Biologics businesses and better position each company to capitalize on strategic growth opportunities as the need for outsourced private label medical device manufacturing and product life cycle management increases.
Metals Business Introduces New Market Brand
As a result of the spin-off, the Metals business, which acts as a full-service partner covering design, development, manufacturing, and regulatory support of metal and polymer implants and instruments used in orthopedics, spine and cardiothoracic applications, will change its name and market brand to Resolve Surgical Technologies. The new name reflects the company’s commitment to resolve customers’ end-to-end manufacturing and product lifecycle challenges, so they are free to focus on their strategic priorities.
The current President of the Metals business, Megan Osorio, will become CEO of Resolve Surgical Technologies, focusing on meeting the growing demand for fully outsourced solutions, “Since the company was founded 30 years ago, our hallmark has been innovative product development, world-class manufacturing, rigorous quality management, and regulatory expertise. Our new brand carries this equity forward and communicates our exciting direction as an independent company,” said Osorio.
Since the company was founded 30 years ago, our hallmark has been innovative product development, world-class manufacturing, rigorous quality management, and regulatory expertise.
Megan Osorio, CEO, Resolve Surgical Technologies
Resolve Surgical Technologies was founded in Marquette, Mich. in 1992 as Pioneer Surgical Technologies and was acquired by RTI Surgical in 2013. The company will build on its Marquette facility and workforce.
Tissues & Biologics Business to Retain RTI Surgical Name
The Tissues & Biologics business, which provides a comprehensive portfolio of tissue-based surgical implants across multiple market segments and commercial channels, will retain the RTI Surgical name. Olivier Visa, CEO, will continue to lead this company, which is based in Alachua, Fla., and has manufacturing facilities in Greenville, N.C. and Neunkirchen, Germany. “Our team is passionate about partnering with our customers to develop and deliver solutions that restore quality of life for patients while maximizing the gift of tissue donation. With RTI Surgical’s singular focus on allograft and xenograft tissue-based implants, our team will provide expanded private label solutions for customers. Our expertise includes design, development, and processing in addition to all aspects of product life cycle management, regulatory compliance and Design History File ownership,” said Visa.
Our team is passionate about partnering with our customers to develop and deliver solutions that restore quality of life for patients while maximizing the gift of tissue donation.
Olivier Visa, CEO, RTI Surgical
RTI was the first company to offer precision-tooled bone implants and assembled technology to maximize each gift of tissue donation. The company was also the first to introduce proprietary, validated, tissue-specific sterilization processes that address the risk of donor-to-recipient disease transmission.
“This is an exciting opportunity for both businesses to pursue their growth potential as strong, independent companies,” said Adrien Sassi, Director at Montagu. “This milestone builds on our expertise in carve-outs and commitment to helping our businesses reach their full potential. We are fully committed to supporting Olivier, Megan and their teams as they build on their respective track records of innovation.”
This is an exciting opportunity for both businesses to pursue their growth potential as strong, independent companies.
EQT VIII and Santo Holdings to acquire EQT VI and its co-investors’ stakes in WS Audiology, the number one global pure play producer of hearing aids
WS Audiology is supported by strong, underlying macro trends, such as a growing aging population, urban noise pollution, and increased penetration and growing demand for hearing aids in developing countries
The investment by EQT Private Equity illustrates the long-term commitment and support for WS Audiology’s mission of helping people regain or improve their hear
EQT is pleased to announce that the EQT VIII fund (“EQT VIII” or “EQT Private Equity”) and Santo Holdings (“Santo”), together with co-investors,have agreed to acquire the EQT VI fundand its co-investors’ stakes in WS Audiology (“the Company”). Following the closing of the transaction, EQT VII, EQT VIII, Santo Holdings, the Tøpholm and Westermann families, and a group of minority co-investors, will own WS Audiology.
Headquartered in Lynge, Denmark, WS Audiology is the number one global pure play producer of hearing aids and accessories in terms of volumes with more than 170 years of combined experience and a proven track record as an industry innovator.
WS Audiology was created in February 2019 through the merger of Sivantos, acquired by EQT VI in 2014 and previously named Siemens Audiology Solutions, and Widex, at the time owned by the Tøpholm and Westermann families. As part of the merger EQT VII and EQT VIII jointly invested in the combined company alongside EQT VI, Santo, the Tøpholm and Westermann families, and other minority shareholders. Today, WS Audiology has revenues of more than EUR 2.0 billion, over 11,000 employees and one of the strongest R&D teams in the industry.
WS Audiology operates in a highly attractive market characterized by healthy, non-cyclical growth and broadened addressable customer groups. The Company is supported by underlying trends, such as an overall aging population, urban noise pollution resulting in higher numbers of hearing-impaired people, an increasing penetration of hearing aids users among the hearing impaired thanks to improved technology and social acceptance, and a growing demand for hearing aids in developing countries.
Since acquisition, WS Audiology’s EBITDA has increased more than 20 percent. EQT and the owner families have supported the Company’s efforts to invest significantly in R&D to entrench as the industry innovator, benefitting from a unique digital ecosystem. WS Audiology is the leader in remote fitting of hearing aid equipment through its subsidiary hear.com, and COVID-19 has accelerated tele-audiology and remote fitting trends.
Kasper Knokgaard, Partner within EQT Private Equity Advisory Team, “Every year, WS Audiology helps millions of people around the world to regain or improve their hearing. The Company’s hearing aids not only improve quality of life but they also offer the possibility to change people’s economic opportunities to the better in less developed countries. EQT Private Equity is therefore proud to renew its long-term support for WS Audiology alongside its other co-investors.”
The transaction is subject to customary conditions and approvals and it closed in December 2021.
With this transaction, EQT VIII is expected to be 80-85 percent invested (including closed and/or signed investments, announced public offers, if applicable, and less any expected syndication).
About EQT
EQT is a purpose-driven global investment organization with more than EUR 70 billion in assets under management across 27 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
About WS Audiology
Formed in 2019, through the merger of Sivantos and Widex, WS Audiology combines over 140 years’ experience in pioneering the use of technology to help people with hearing loss hear the sounds that make life wonderful. With truly differentiated brands like Widex, Signia, Rexton, Audio Service and Vibe, and with diverse assets across wholesale, retail, online, managed care and diagnostic solutions, we are active in over 125 markets. As a global leader, our ambition is to unlock human potential by making wonderful sound part of everyone’s life.
Marseille, France, Providence (Rhode Island), USA & Utrecht, the Netherlands
Volta Medical, a pioneering health tech company developing artificial intelligence (AI)-based software solutions to treat cardiac arrythmias, today announced the introduction of its leading-edge product, VX1, at three leading U.S. hospitals. New York Presbyterian Queens, Northwell Health’s Lenox Hill Hospital in New York City, and Ascension St. Vincent’s Riverside, Jacksonville, FL, are the first U.S. hospitals to implement VX1, which is designed to improve outcomes for patients undergoing atrial fibrillation (AF) ablation procedures.
All three hospitals also are recruiting AF ablation patients to participate in an international, randomized controlled clinical trial to evaluate the outcomes of VX1-guided ablation versus standard ablation called TAILORED-AF trial. The international, multi-center trial will involve 25 sites and 342 patients and is expected to report results in 2024. VX1 is cleared as a medical device by the U.S. Food and Drug Administration and CE-certified by the European Union.
VX1 is the first commercially available AI software to help clinicians combat high failure rates in the use of ablation for treating persistent, drug-resistant AF. AF, characterized by an irregular and chaotic heartbeat (cardiac arrythmia), can lead to more serious health issues such as heart failure and stroke. During AF ablation, a specialized cardiologist known as an electrophysiologist inserts catheters through the blood vessels into the heart to burn or freeze tissue that is causing abnormal electrical signals in the upper chamber, or atrium. The procedure creates scarring that restores a normal heartbeat.
The VX1 system analyzes electrical signals measured during the procedure and identifies abnormalities in real-time. VX1 is versatile and can be installed in most operating rooms and is compatible with the main multipolar catheters and mapping systems.
About atrial fibrillation (AFib or AF) An estimated 6.1 million people in the United States have AF with projections to reach nearly 12.1 million in 2030. Worldwide, it affects more than 33 million people. Symptoms include palpitations, lightheadedness and shortness of breath. In some patients, AF can lead to heart failure. AF is not only an extremely costly public health issue but also a major risk factor for stroke, posing a 4-to-5 times greater risk than for the general population. AF is commonly treated with medication that regulates or slows the heart rate. For patients who cannot tolerate or are resistant to anti-arrhythmic drug therapy, ablation is the current standard of care. Ablation uses heat or cold energy to create tiny scars in the heart to block abnormal electrical signals and restore a normal heartbeat. However, the efficacy of this approach depends largely on the experience and intuition of the electrophysiologist. With 50% of persistent AF patients requiring repeat treatments, the need for more precise therapies is significant.
About the TAILORED-AF trial TAILORED-AF is an international, multicenter trial designed to determine if a tailored VX1 AI software-guided ablation strategy targeting areas of spatiotemporal dispersion in combination with pulmonary vein isolation (PVI) is superior to a conventional anatomical ablation strategy targeting PVI alone for the treatment of persistent AF. The primary endpoint of the study is the absence of documented AF episodes > 30 seconds, with or without anti-arrhythmic drugs (AADs), 12 months after a single index ablation procedure. Secondary endpoints include absence of AF and/or atrial tachycardia (AT) episodes after a 12-month period, following one or more procedures, as well as safety. Volta Medical expects results from the TAILORED-AF trial in 2024.
About Volta Medical Volta Medical is a health tech company developing AI software solutions to assist cardiac electrophysiologists in the operating room. Volta’s overarching goal is to significantly improve cardiac arrythmia management by developing state-of-the-art, data-driven medical devices based on large databases of procedural data with the highest standards of data protection. Founded by three physicians and a data scientist in 2016 in Marseille, France, Volta’s first product, VX1, assists cardiologists in the real-time identification of specific abnormal electrograms, known as dispersed electrograms. For more information, visit the company’s website at www.volta-medical.com.
About Gilde Healthcare Gilde Healthcare is a specialized healthcare investor with two fund strategies: Venture&Growth and Private Equity. The firm operates out of offices in Utrecht (The Netherlands), Frankfurt (Germany) and Cambridge (United States). Gilde Healthcare Venture&Growth invests in fast growing, innovative companies active in (bio)pharmaceuticals, healthtech and medtech that are based in Europe and North America. For more information, please visit: www.gildehealthcare.com.
Frankfurt am Main/Kleinostheim, December 21, 2021 – Ardian, a world-leading private investment house, has reached an agreement to sell its majority stake in SCHWIND eye-tech-solutions GmbH (“SCHWIND”) – one of the world’s leading specialists in laser systems for the treatment of vision defects and corneal diseases – to the private equity company Adagia Partners.
Through its partnership with Ardian, SCHWIND’s management team, led by CEO Rolf Schwind, was strengthened with the appointment of COO Domenic von Planta and CFO Dirk Rosenlöcher and will continue to manage the business in the future. The parties have agreed not to disclose details of the transaction.
Founded in 1958, the company develops, produces and distributes an extensive and highly sophisticated range of products. These include diagnostic tools and state-of-the-art laser systems for the treatment of vision defects and corneal diseases, as well as corresponding software solutions and services.
Worldwide, more than 1,300 SCHWIND laser systems are currently installed in ophthalmology practices, eye clinics, laser centers and university hospitals in over 100 countries. SCHWIND laser systems are used in LASIK, LASEK, PRK, TransPRK and Femto-LASIK eye surgery as well as in minimally invasive lenticle extraction. The combination of innovative technology and intelligent device design ensures maximum precision and safety in refractive corneal surgery. SCHWIND offers clients a one-step solution for the entire course of treatment, through an approach that encompasses the digital networking of diagnostic tools and eye laser system, as well as other supplementary services.
“SCHWIND is recognized as the most technologically advanced company in the sector. With Ardian as our partner, we have been able to successfully expand our unique specialization in the market. Investment in research and development to create the world’s most innovative and precise laser systems for refractive corneal has helped substantially strengthen our product portfolio and tap into new application areas. Our products in the growing market for ophthalmology stand for the highest quality and absolute reliability. We would like to thank the Ardian team as well as the new partner Adagia Partners for their excellent cooperation over the past five years.” Rolf Schwind, CEO of SCHWIND eye-tech-solutions GmbH
“SCHWIND enjoys a worldwide reputation for cutting-edge technology in eye surgery. We are proud to have made a contribution to the successful development of the company in recent years and to have played a part in laying the foundation for a successful future with the addition of the ATOS Femtosecond laser to the product portfolio. We would like to thank the management team led by CEO Rolf Schwind and COO Domenic von Planta for the cooperation. Together with the extended leadership team and the employees of SCHWIND, management have steadily and systematically developed the company with innovative technology solutions and strengthened their global leadership position in refractive corneal surgery. We wish the company and its employees all the best for the future.” Dirk Wittneben, Managing Director & Head of Expansion Germany at Ardian
With Ardian as a partner, the company has invested significantly in research and development since 2016, and Ardian has supported the company with experienced sector experts. As a result, the product range, which previously consisted of various excimer lasers and diagnostic devices, could be expanded with a specially developed intelligent femtosecond laser system (ATOS). Femtosecond lasers enable state-of-the-art surgical methods on the eye to improve vision, such as minimally invasive lenticle extraction or flap creation as part of FemtoLASIK. For each operation with a femtosecond laser, high-quality consumables developed by SCHWIND (patient interfaces) are used, which physically connect the laser device to the patient’s eye. As a result, SCHWIND was able to expand its core business of developing and marketing eye laser and diagnostic systems with additional recurring revenues through patient interfaces for ATOS femtosecond laser treatments. In addition to the successful core business with excimer laser systems and diagnostic devices, the entry into the market segment of femtosecond lasers represents a key step in continuing the strong organic growth and the successful corporate development of SCHWIND.
ABOUT ARDIAN
Ardian is a world-leading private investment house with assets of US$120bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base.
Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world.
Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 800 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of more than 1,200 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
SCHWIND eye-tech-solutions is one of the technological leaders in the global market for refractive and therapeutic corneal surgery. The family business develops, produces and markets a comprehensive, highly developed product portfolio for the treatment of vision defects and corneal diseases. With the SCHWIND AMARIS Excimer Laser product family and the SCHWIND ATOS femtosecond laser, the company covers the most important all-laser procedures of modern refractive surgery from a single source: the touch free TransPRK/SmartSurfACE surface treatment, intrastromal FemtoLASIK and minimally invasive SCHWIND SmartSight lenticle extraction of the new generation. Eye surgeons in more than 100 countries treat their patients with SCHWIND technologies.
Adagia Partners is a pan-European mid-market private equity firm with offices in Frankfurt and Paris. The firm was created and is owned by its Partners. The team is made of 15 professionals with international and operational background. The firm is delivering performance for all stakeholders by fostering entrepreneurship and humanism.
Adagia Capital Europe, the €750m investment vehicle currently in fund raising, will be deployed in Midcap companies in France, Germany, Benelux, Switzerland and Austria. The fund has an industry specialist approach and focusses on Healthcare, Business Services and Tech Industries.
The fund backs entrepreneurs in the implementation of their growth strategies, build-up and Tech-Digital approach.
Finnish 9Lives, specialised in demanding mobile health services, acquires Stella Kotipalvelut Ltd. The personnel of Stella, the company having seen strong growth in recent years, continues to work under 9Lives. By 2025, 9Lives aims to become the Northern-European leading provider of mobile, local social and healthcare services.
The fusion will be finalised during 2022. Stella is owned by Intera Fund II Ky, Tesi (Finnish Industry Investment Ltd), Posti Group Ltd as well as the management. Tesi made the initial investment in the company in 2014, to support the good conditions for growth and social impact the company had in social and healthcare services sector.
Tesi (Finnish Industry Investment Ltd) is a state-owned investment company that wants to raise Finland to the front ranks of transformative economic growth by investing in funds and directly in companies. We invest profitably and responsibly, hand-in-hand with private co-investors, to create new success stories. Our investments under management total 2.1 billion euros. www.tesi.fi | @TesiFII
