Tag Archives: healthcare

Funds advised by Apax sell Unilabs to A.P. Moller Holding

Apax

Funds advised by Apax Partners LLP (the “Apax Funds”) announced today that they have agreed to sell their controlling stake in Unilabs (the “Company”), a leading pan-European provider of laboratory and imaging diagnostics services, to A.P. Moller Holding, the parent company of the Danish A.P. Moller Group founded and run by the Maersk family. Financial details of the transaction were not disclosed.

Drawing on Apax’s deep knowledge of the healthcare sector, the Apax team identified Unilabs as an attractive company operating in a highly fragmented market with significant expertise in best practice lab and imaging operations. The Apax Funds first invested in a minority stake in Unilabs in 2007, taking the Company private from the Swiss Stock Exchange and subsequently merging it with Capio Diagnostics, a Nordic laboratory and imaging business.

In 2017, the Apax Funds gained majority control of the Company, acquiring the outstanding shareholding in Unilabs. The Apax Funds subsequently proceeded to invest in people, technology, and M&A and, under the Apax Funds’ ownership, Unilabs accelerated its organic growth to become a European leader in digital imaging and digital pathology diagnostics. During this period, Unilabs also completed over 50 add-on acquisitions, helping enhance the Company’s product offering and expand its geographical footprint.

Today Unilabs is the only European player covering the full spectrum of diagnostics across laboratory, imaging and pathology services at scale. Headquartered in Switzerland, Unilabs now employs over 12,000 people across 15 countries.

Steven Dyson, Partner at Apax, said: “Unilabs is an excellent example of the Apax Funds’ transformative ownership approach, focusing on healthcare fundamentals and partnering with exceptional management teams. It has been great to work with Jos, Michiel and the whole Unilabs team over the past few years. The Company has undergone significant transformation which includes accelerating organic growth, expanding into new markets through strategic acquisitions and leading the digitalisation of healthcare, to become a leading provider of diagnostics services in Europe.”

Arthur Brothag, Partner at Apax, added: “We are proud to have helped Unilabs build and scale the business and we would like to thank Jos, Michiel, and the team and wish them every success for the future in this new exciting chapter with their new partner.”

Michiel Boehmer, Chief Executive Officer of Unilabs, said “Unilabs has truly scaled its operations in the last few years and Apax has been an outstanding partner for me and the management team. Their combined experience in healthcare and technology has not only helped us enhance our existing offering and geographic reach, but also allowed us to become a pioneer in digital diagnostics and in the adoption of artificial intelligence in telemedicine. As we embark on our next chapter, I want to thank both the Apax and the Unilabs team for all their hard work and dedication over the last few years.”

Jos Lamers, Chairman of Unilabs, added: “I would like to thank Apax, who have been part of Unilabs’ journey since 2007. Apax supported our strategy, helped us grow into the international diagnostics champion we are today, and set us up perfectly for the next chapter. Also, I’d like to share my appreciation and admiration to all the Unilabs colleagues, for their tireless efforts to support our customers and patients every day.”

The Apax Funds have a strong track record of investing in the Healthcare sector, having completed more than 80 investments over the last 30 years across multiple geographies, including the US, Europe and Asia. Current and recent investments include Eating Recovery Center, a US provider of eating disorder and mood and anxiety treatments, Rodenstock, a European provider of premium, highly individualised ophthalmic lenses, InnovAge, a US provider of senior care services, the medical device companies Candela and Vyaire, as well as the specialty pharma company Neuraxpharm.

Apax was advised by Rothschild&Co (M&A adviser), and Linklaters (legal advisers). The transaction is expected to close in the next few months, subject to customary closing conditions and regulatory approvals.

Categories: News

Tags:

Specialist for medical polymer materials DETAX resolves ownership succession in the course of a management buy-out

Ecm
  • DETAX is a leading global supplier of biocompatible silicones and light-curing 3D resins for medical applications in the dental and audio sector.
  • As an innovative specialist in polymer materials, DETAX offers its customers a high-quality and extensively MDR-certified product portfolio and positions itself as a pioneer in the dynamic environment of 3D printing materials.
  • The company considers itself as a partner to a broad and loyal customer base, thereby enjoying an excellent reputation thanks to its consistently high product and service quality.
  • The Investor Consortium of ECM, PINOVA and Gilde Healthcare Private Equity supports DETAX and the management team in settling the ownership succession through a management buy-out. Together, the partners want to build on and further expand DETAX’s successful growth track.

An Investor Consortium consisting of funds managed by ECM Equity Capital Management GmbH (“ECM”), PINOVA Capital GmbH (“PINOVA”) and Gilde Healthcare (“Gilde Healthcare Private Equity”) (together the “Investor Consortium”) has acquired a majority stake in DETAX Group, the leading supplier of polymer materials for medical applications, in the context of a management buy-out. The two long-term managing directors, Mrs. Ursula Juretzki-Mangold and Mr. Ralf König, have invested alongside the Investor Consortium as part of the transaction. After more than 65 years of ownership, the transition from the owner family Regneri to the new owners has been completed. Together with the Investor Consortium, the management team will continue the successful development and will lead DETAX into the next growth phase. The transaction is subject to merger control approvals and financial details are not disclosed.

Specialist for medical materials

DETAX, based in Ettlingen, Germany, was founded in 1953 and today employs approx. 110 people. As a specialist in polymer materials, the group offers its customers a comprehensive product portfolio of dental and otoplastic consumables. The group serves an international, broadly diversified and loyal customer base. End users of the products include dental practices, dental laboratories as well as audiologists and audio laboratories. The group operates in a non-cyclical, highly regulated market environment. Complying with such regulation, DETAX holds all relevant MDR certificates. This makes DETAX one of the first companies in the industry with an extensive MDR-certified product portfolio.

Potential for internationalization, digitization, and innovations in a growing market environment

The company’s attractive end markets are continuously growing, driven by sustainable trends such as socio demographics, digitization and increasing regulatory requirements. Particularly 3D printing materials, an area in which DETAX is a pioneer with an excellent market standing, are experiencing a dynamic development. The Investor Consortium and the management team aim to further promote growth with targeted investments in DETAX’s headquarters in Ettlingen. Due to its long-standing, strong market positioning and high innovative strength, DETAX is in an excellent position to leverage such growth. Particularly strong growth potential stems from further internationalization, new customer acquisitions as well as active market consolidation. The Investor Consortium will contribute with its extensive and complementary experience in accompanying growth and internationalization as well as executing buy-and-build strategies.

Following the transaction, Peter Regneri, long-time shareholder and managing director, emphasizes the importance of handing over DETAX to an experienced consortium of mid-market investors with an international positioning, that is equipped to secure and continue the successful development of the company.

Ursula Juretzki-Mangold and Ralf König, managing directors and future shareholders say: “We are proud of what the entire DETAX team has achieved in recent years. Together, we were able to accomplish dynamic growth, particularly through internationalization and new product innovations. With the Investor Consortium, we have found strong partners who support us with many years of experience and international know-how in the healthcare and medical technology markets. Together with our partners, we plan to invest in further product innovations and digitization as well as the further strengthening of our headquarters in Ettlingen.”

Tim Krume, Director at ECM, adds: “DETAX is an exceptionally attractive company. We are excited about the highly professional organization, led by a high-calibre, experienced and motivated management team, the strong market positioning as well as the excellent reputation of the group as a leading specialist for medical materials. We are extremely pleased to accompany DETAX’s successful growth trajectory in partnership with the management team.”

Herbert Seggewiß, Partner at PINOVA, further adds: “We are impressed by the development of the group and the entrepreneurial performance of the management team. We were particularly impressed by the high-quality and extensively MDR-certified product portfolio, the long-standing loyal partnerships with customers and suppliers, and the high level of innovation with a strong track record. We look forward to a successful collaboration with the management team.”

Robert Stein, Partner at Gilde Healthcare Private Equity, notes, “DETAX represents an excellent basis for further organic and inorganic growth. We look forward to adding value in the future with our broad international network as well as our deep industry expertise, especially with respect to buy-and-build.”

The Investor Consortium was advised on the transaction by KWM (legal and structuring), CODEX (market), PwC (finance & tax), Shearman & Sterling (financing documentation), GCA Altium (debt advisor) and Willis Towers Watson (insurance). Responsible for the transaction at ECM are Tim Krume, Axel Eichmeyer and Paul Hansen, at PINOVA Herbert Seggewiß, David Gilli and Aylin Akkay and at Gilde Healthcare Private Equity Robert Stein, Tom Klein Robbenhaar and Julian Primer. DETAX was jointly advised on the transaction by CMS, Crowe BPG and Kanzlei Wangler.

About DETAX Group

DETAX, headquartered in Ettlingen with around 110 employees, is a specialist for medical materials. For more than 65 years, DETAX has been developing silicones and light-curing resins for medical applications and 3D printing. The company is one of the world’s leading specialists in polymer materials with a focus on the dental and audio sectors.

Further information at: www.detax.de

About PINOVA Capital GmbH

PINOVA Capital is an independent private equity firm investing in high-growth technology companies in German-speaking regions. PINOVA Capital focuses on “Mittelstand” companies with sales between €10 million and €75 million in the sectors industrial technology and information technology, characterized by significant growth potential, sustainable competitive advantages and a strong market position in their niche.

Further information at: www.pinovacapital.com

About Gilde Healthcare

Gilde Healthcare is a specialized healthcare investor with two fund strategies: Venture&Growth and Private Equity. The firm is headquartered in Utrecht (The Netherlands) with local offices in Frankfurt (Germany) and Cambridge (United States). Gilde Healthcare Private Equity participates in profitable lower mid-market healthcare companies based in North-Western Europe. The Private Equity fund targets healthcare providers, suppliers of medical products and service providers in the healthcare market. Gilde Healthcare Venture & Growth invests in medtech, healthtech and therapeutics in Europe and North America.

Further information at: www.gildehealthcare.com

About ECM Equity Capital Management GmbH

ECM is a trusted growth partner for mid-sized enterprises and entrepreneurs in German-speaking Europe. Since 1995, ECM has raised the private equity funds GEP I-V with aggregate equity commitments of more than €1 billion and currently invests out of the fifth fund GEP V (€325 million). The funds invest primarily in leading mid-market companies with attractive growth potential in the context of ownership successions, partnership transactions and corporate spin-offs.

Further information at: www.ecm-pe.de

Categories: News

Tags:

Gilde Healthcare Private Equity as part of Investor Consortium acquires DETAX

GIlde Healthcare
December 3, 2021
Frankfurt am Main, Munich and Ettlingen (Germany)
Specialist for medical polymer materials DETAX resolves ownership succession in the course of a management buy-out and continues its successful growth track together with a strong Investor Consortium

 ·    DETAX is a leading global supplier of biocompatible silicones and light-curing 3D resins for medical applications in the dental and audio sector.
·    As an innovative specialist in polymer materials, DETAX offers its customers a high-quality and extensively MDR-certified product portfolio and positions itself as a pioneer in the dynamic environment of 3D printing materials.
·    The company considers itself as a partner to a broad and loyal customer base, thereby enjoying an excellent reputation thanks to its consistently high product and service quality.
·    The Investor Consortium of ECM, PINOVA and Gilde Healthcare Private Equity supports DETAX and the management team in settling the ownership succession through a management buy-out. Together, the partners want to build on and further expand DETAX’s successful growth track.

An Investor Consortium consisting of funds managed by ECM Equity Capital Management GmbH (“ECM”), PINOVA Capital GmbH (“PINOVA”) and Gilde Healthcare Private Equity (“Gilde Healthcare”) (together the “Investor Consortium”) has acquired a majority stake in DETAX Group, the leading supplier of polymer materials for medical applications, in the context of a management buy-out. The two long-term managing directors, Mrs. Ursula Juretzki-Mangold and Mr. Ralf König, have invested alongside the Investor Consortium as part of the transaction. After more than 65 years of ownership, the transition from the owner family Regneri to the new owners has been completed. Together with the Investor Consortium, the management team will continue the successful development and will lead DETAX into the next growth phase. The transaction is subject to merger control approvals and financial details are not disclosed.

Specialist for medical materials
DETAX, based in Ettlingen, Germany, was founded in 1953 and today employs approx. 110 people. As a specialist in polymer materials, the group offers its customers a comprehensive product portfolio of dental and otoplastic consumables. The group serves an international, broadly diversified and loyal customer base. End users of the products include dental practices, dental laboratories as well as audiologists and audio laboratories. The group operates in a non-cyclical, highly regulated market environment. Complying with such regulation, DETAX holds all relevant MDR certificates. This makes DETAX one of the first companies in the industry with an extensive MDR-certified product portfolio.

Potential for internationalization, digitization, and innovations in a growing market environment
The company’s attractive end markets are continuously growing, driven by sustainable trends such as socio demographics, digitization and increasing regulatory requirements. Particularly 3D printing materials, an area in which DETAX is a pioneer with an excellent market standing, are experiencing a dynamic development. The Investor Consortium and the management team aim to further promote growth with targeted investments in DETAX’s headquarters in Ettlingen. Due to its long-standing, strong market positioning and high innovative strength, DETAX is in an excellent position to leverage such growth. Particularly strong growth potential stems from further internationalization, new customer acquisitions as well as active market consolidation. The Investor Consortium will contribute with its extensive and complementary experience in accompanying growth and internationalization as well as executing buy-and-build strategies.

Following the transaction, Peter Regneri, long-time shareholder and managing director, emphasizes the importance of handing over DETAX to an experienced consortium of mid-market investors with an international positioning, that is equipped to secure and continue the successful development of the company.

Ursula Juretzki-Mangold and Ralf König, managing directors and future shareholders say: “We are proud of what the entire DETAX team has achieved in recent years. Together, we were able to accomplish dynamic growth, particularly through internationalization and new product innovations. With the Investor Consortium, we have found strong partners who support us with many years of experience and international know-how in the healthcare and medical technology markets. Together with our partners, we plan to invest in further product innovations and digitization as well as the further strengthening of our headquarters in Ettlingen.”

Tim Krume, Director at ECM, adds: “DETAX is an exceptionally attractive company. We are excited about the highly professional organization, led by a high-calibre, experienced and motivated management team, the strong market positioning as well as the excellent reputation of the group as a leading specialist for medical materials. We are extremely pleased to accompany DETAX’s successful growth trajectory in partnership with the management team.”

Herbert Seggewiß, Partner at PINOVA, further adds: “We are impressed by the development of the group and the entrepreneurial performance of the management team. We were particularly impressed by the high-quality and extensively MDR-certified product portfolio, the long-standing loyal partnerships with customers and suppliers, and the high level of innovation with a strong track record. We look forward to a successful collaboration with the management team.”

Robert Stein, Partner at Gilde Healthcare Private Equity, notes, “DETAX represents an excellent basis for further organic and inorganic growth. We look forward to adding value in the future with our broad international network as well as our deep industry expertise, especially with respect to buy-and-build.”

The Investor Consortium was advised on the transaction by KWM (legal and structuring), CODEX (market), PwC (finance & tax), Shearman & Sterling (financing documentation), GCA Altium (debt advisor) and Willis Towers Watson (insurance). Responsible for the transaction at ECM are Tim Krume, Axel Eichmeyer and Paul Hansen, at PINOVA Herbert Seggewiß, David Gilli and Aylin Akkay and at Gilde Healthcare Private Equity Robert Stein, Tom Klein Robbenhaar and Julian Primer. DETAX was jointly advised on the transaction by CMS, Crowe BPG and Kanzlei Wangler.

About ECM Equity Capital Management GmbH (‘ECM’)
ECM is a trusted growth partner for mid-sized enterprises and entrepreneurs in German-speaking Europe. Since 1995, ECM has raised the private equity funds GEP I-V with aggregate equity commitments of more than €1 billion and currently invests out of the fifth fund GEP V (€325 million). The funds invest primarily in leading mid-market companies with attractive growth potential in the context of ownership successions, partnership transactions and corporate spin-offs. Further information at: www.ecm-pe.de.

About PINOVA Capital GmbH („PINOVA”)
PINOVA Capital is an independent private equity firm investing in high-growth technology companies in German-speaking regions. PINOVA Capital focuses on “Mittelstand” companies with sales between €10 million and €75 million in the sectors industrial technology and information technology, characterized by significant growth potential, sustainable competitive advantages and a strong market position in their niche. Further information at: www.pinovacapital.com

About Gilde Healthcare
Gilde Healthcare is a specialized healthcare investor with two fund strategies: Venture&Growth and Private Equity. The firm is headquartered in Utrecht (The Netherlands) with local offices in Frankfurt (Germany) and Cambridge (United States). Gilde Healthcare Private Equity participates in profitable lower mid-market healthcare companies based in North-Western Europe. The Private Equity fund targets healthcare providers, suppliers of medical products and service providers in the healthcare market. Gilde Healthcare Venture & Growth invests in medtech, healthtech and therapeutics in Europe and North America. Further information at: www.gildehealthcare.com

About DETAX Group („DETAX“)
DETAX, headquartered in Ettlingen with around 110 employees, is a specialist for medical materials. For more than 65 years, DETAX has been developing silicones and light-curing resins for medical applications and 3D printing. The company is one of the world’s leading specialists in polymer materials with a focus on the dental and audio sectors. Further information at: www.detax.de

Categories: News

Tags:

HARRISON.AI RAISES AUD$129 MILLION AND PARTNERS WITH SONIC HEALTHCARE TO DEVELOP PATHOLOGY AI, ACCELERATING ITS MISSION TO EXPAND CAPACITY OF GLOBAL HEALTHCARE

Horizons Ventures

$129 million funding raised from global venture firms and strategic investors including Horizons Ventures, I-MED Radiology and Sonic Healthcare in one of Australia’s largest Series B funding rounds ever

New pathology Joint Venture combines Harrison.ai’s expertise in clinical artificial intelligence with Sonic Healthcare’s clinical expertise and network

SYDNEY, 1 DECEMBER 2021 — Harrison.ai, the breakthrough healthcare AI company, today announced it has raised AU$129 million (USD$97 million) in one of Australia’s largest-ever Series B funding rounds. The funding will go to helping Harrison.ai expand on its mission to scale critical capacity in the global healthcare system through rapid commercialisation of comprehensive clinical AI applications.

The Series B funding round, led by existing investor Horizons Ventures, featured new equity investment from Sonic Healthcare and I-MED Radiology Network, alongside existing investors Blackbird Ventures and Skip Capital. It brings the total raised by Harrison.ai within the past two years to AU$158 million (USD$118 million).

Harrison.ai also announced a new partnership with Sonic Healthcare (ASX:SHL), a leader in medical diagnostics, to co-develop and commercialise new clinical AI solutions in pathology. The Joint Venture will culminate in new AI applications to improve efficiency and efficacy of pathology diagnosis with AI support.

New funding to help push Harrison.ai’s proven healthcare AI model to the global stage

Harrison.ai will use the new capital to rapidly expand its team of AI data scientists and engineers, while expanding into new areas of healthcare with global clinical partners. The combination of global investors like Horizons Ventures with strategic clinical investors will enable Harrison.ai to expand globally while leveraging medical expertise and reach.

Capacity in many areas of clinical diagnosis and treatment are under strain due to ongoing increases in healthcare demand contrasted with skills shortages and pandemic- related backlogs in clinical demand. Developed healthcare systems such as the United Kingdom (UK) and United States (US) face massive shortages in skilled radiologists and clinicians, with significantly more staff required to meet surging demand for diagnosis. Despite this shortage, there is a stark disparity to other markets — the US has approximately 11 radiologists per 100,000 people compared to just 0.35 radiologists per 100,000 people in Kenya.

This increased demand for equitable, accurate and effective healthcare delivery requires complementary systems like Artificial Intelligence (AI) to provide human-aided diagnosis and help relieve some of this disparity.

Harrison.ai and its partners have pioneered a unique and proven model to rapidly develop, commercialise and deploy accurate and clinically effective AI tools that support clinical diagnosis in a range of medical areas. It has developed deep artificial intelligence expertise and methodology that, when combined with the clinical expertise and data of medical partners, significantly shortens the path to market for new healthcare AI applications.

Harrison.ai and I-MED Radiology partnered to form Annalise.ai in early 2020 to develop comprehensive solutions across radiology modalities. Annalise.ai’s first product, the world’s most comprehensive AI clinical decision-support solution for Chest X-Rays, is already in more than 350 radiologists each day in Australia and rolling out to hundreds more. The partnership saw Annalise.ai co-research, develop and commercialise the solution within 18 months. The solution, which is capable of detecting 124 findings, was recently featured in peer-reviewed publication the Lancet Digital Health journal.

Dr Aengus Tran, Co-Founder and CEO of Harrison.ai, said: “Delivering equitable, effective and accurate healthcare to more people is a critical part of our mission at Harrison.ai, and as we emerge from the pandemic that mission is more important than ever. With our model and methodology now proven across multiple clinical areas, we are in a position to expand to new clinical areas and deliver on our mission with the support of our investors and partners.”

Chris Liu from Horizons Ventures, said: “Harrison.ai‘s distinct approach to AI healthcare has enabled the team to commercialise market leading solutions at record pace with its partners. We look forward to working closely with the team and our partners to help augment the capacity of healthcare systems globally.”

New Sonic Healthcare Joint Venture provides new opportunities in pathology

The new partnership with Sonic Healthcare marks the next stage on the mission to deliver equitable healthcare. It will combine Harrison.ai’s depth of expertise with Sonic Healthcare’s clinical experience and distribution to commercialise an effective and accurate AI solution in pathology rapidly.

Globally, pathology faces an even more stark skills shortage, with the number of US pathologists decreasing 18% between 2007 and 2017 despite an increase in workload. Building comprehensive AI solutions for pathology will help scale the capacity of diagnostic care across the globe.

“Sonic Healthcare’s deep clinical experience and understanding combined with our proven AI methodologies will create a powerful new way to support clinicians to more effectively and efficiently diagnose patients in pathology,” Dr Tran said.

Dr Colin Goldschmidt, CEO of Sonic Healthcare, said: “The formation of a joint venture with Harrison.ai is an exciting moment in Sonic Healthcare’s progression as a healthcare company. Harrison.ai is a smart, agile, and medically led company with a proven track record in the healthcare AI space. The partnership with Sonic and our deep healthcare experience and global reach represents a synergistic union and a powerful force in healthcare AI.”

Media contact

Jacqueline Rutledge
Sling & Stone for Harrison.ai
+61 402 266 163
jacquelinerutledge@slingstone.com

About Harrison.ai

Harrison.ai is a clinician-led healthcare artificial intelligence (AI) company rapidly developing and deploying AI solutions to address persistent healthcare challenges. With a mission to make world-class healthcare available and affordable to all, Harrison.ai works closely with clinical partners to deliver clinical-grade AI software at scale.

Harrison.ai works with partners to develop and deploy AI healthcare solutions that impact 50,000 patients each month in Australia, Europe and other countries. These include working with Virtus Health Limited to develop AI in IVF, as well as I-MED on Annalise CXR, the world’s most comprehensive AI clinical decision- support solution for chest X-rays. In July 2021, a Annalise CXR validation study published in the Lancet Digital Health found the AI model was capable of identifying 124 findings on chest x-rays to support and improve radiologist findings.

About Horizons Ventures

Horizons Ventures was co-founded by Solina Chau and Debbie Chang in 2005. It is known for backing era-defining companies making lasting and positive impact in the world. Amongst its string of notable early stage investments are Zoom, Impossible Foods, Perfect Day, Spotify, Siri and DeepMind, reflecting Horizons Ventures’ methodical long-term investment approach.

Categories: News

Tags:

Vivalto Partners, alongside a consortium of minority shareholders, announces the acquisition of Vivalto Santé, the third leading group of private hospitals in France

ik-investment-partners

Vivalto Partners, a management company created in 2021 by Daniel Caille, the founding CEO of Vivalto Santé, announces the closing of the acquisition of Vivalto Santé, the third leading group of private hospitals in France which brings together 50 healthcare facilities and relies on more than 10,000 caregivers and 3,000 practitioners with a turnover of over €1 billion.

Vivalto Partners, as controlling shareholder, is supported in this transaction by the historical institutional shareholders of the group – MACSF, Arkéa Capital, BNP Paribas Développement, Groupe Crédit Agricole, Mubadala and Bpifrance – and welcomes two new partners: IK Partners (“IK”) and Hayfin.

The Group’s dual ownership model – with financial investors and doctors sharing capital and governance – will be strengthened with a target of around 1,000 practitioner-shareholders at the end of a public offering1 to be launched in December 2021.

The employee shareholding, which already brings together 25% of the workforce, through a company mutual fund, will also be expanded, with an objective to enroll at least 35% of employees.

This unique and powerful shared governance gives Vivalto Santé the means to achieve its goals as first “Entreprise à Mission” of the acute care sector. This shall be the backbone of an ambitious sustainable growth journey, supporting patients through their care pathway, in France and internationally, where developments could be initiated.

Daniel Caille, President of Vivalto Partners, said: “With the support of its financial investors and the strong commitment of its practitioner-shareholders, Vivalto Santé enthusiastically contemplates the next steps of its development as an “Entreprise à Mission” in a context of sustained growth. The firm will continue to deploy its centres of excellence and live by its unconditional commitment to care and strong values. I firmly believe that, under this shared governance, Vivalto Santé’s management team will consolidate the group’s position as the benchmark of private hospitals owner and operator on the French market.”

Roger Caniard (MACSF) and Thomas Trideau (Arkéa), on behalf of historical institutional shareholders which reinvest with Vivalto Partners, said: “All the existing investors are proud to have supported this remarkable journey achieved since the creation of Vivalto Santé, with BNP Paribas Développement, the funds of Crédit Agricole group and Arkéa Capital as cornerstone investors. Since 2016, with the strong support of new shareholders (MACSF, Bpifrance and Mubadala), the group has moved up to a new dimension while accentuating its specificities. We are delighted to continue this entrepreneurial adventure in a unique project that brings together practitioners, management and employees.”

Thomas Grob, Partner at IK, added: “We are happy to join the financial round table of Vivalto Santé, a company which combines a great entrepreneurial spirit driven by its founder Daniel Caille, a balanced governance model including medical practitioners and financial shareholders and a strong culture, reflected by its status of “Entreprise à Mission”. This reinforces its competitive advantage and point of differentiation in the private hospitalisation landscape.”

[1] Public offering addressed to the practitioners only

For further questions, please contact:

Vivalto Partners

Yonel Genin – Vivalto Partners – yonel.genin@vivaltopartners.com

IK Partners

James McFarlane – Maitland/AMO – +44 (0) 7584 142665 – jmcfarlane@maitland.co.uk

Categories: News

Tags:

Equity consortium led by Nordic Capital and including Insight Partners completes acquisition of Inovalon – Partnership to advance Inovalon’s mission of empowering data-driven healthcare

Nordic Capital
Equity consortium led by Nordic Capital and including Insight Partners completes acquisition of Inovalon Image

 

Inovalon (Nasdaq: INOV), a leading provider of cloud-based platforms empowering data-driven healthcare, today announced the completion of its acquisition by an equity consortium led by Nordic Capital, and joined by Insight Partners, as lead co-investor, 22C Capital, and Inovalon founder and chief executive officer Keith Dunleavy, M.D. and certain Class B stockholders of Inovalon. The acquisition was previously announced on August 19, 2021, and was approved by Inovalon’s stockholders on November 16, 2021. In accordance with the terms of the agreement, Inovalon stockholders will receive $41.00 in cash for each share of Class A Common Stock and Class B Common Stock.  As a result of the transaction, Inovalon is now a privately held company and shares of Inovalon Class A Common Stock are no longer listed on the Nasdaq Global Select Market. 

“The closing of this transaction is a significant milestone for Inovalon, and we are excited to begin our company’s next chapter with our partners at Nordic Capital, Insight Partners, and 22C Capital,” said Keith Dunleavy, M.D., Inovalon’s founder and chief executive officer. “I am tremendously proud of what Inovalon and our associates have accomplished over more than two decades empowering data-driven improvements across the healthcare ecosystem. We look forward to working together with our new partners to advance Inovalon’s mission, expand our reach, and further expand the value that we bring to our customers and the patients they serve.”

“Nordic Capital is pleased to complete this compelling transaction and look forward to the partnership with Inovalon, whom we have long admired for their industry leadership, cloud-based technologies, and commitment to customers,” said Fredrik Näslund, partner, Nordic Capital Advisors. “Our commitment to accelerating innovation that delivers meaningful value and measurable results for all stakeholders across the healthcare landscape is steadfast. Nordic Capital looks forward to building upon Inovalon’s strong foundation and the significant opportunities ahead.”

“The importance of leveraging data and advanced analytics to drive improved healthcare outcomes and economics continues to grow,” said Deven Parekh, managing director at Insight Partners. “As new partners to Inovalon, we look forward to supporting the leadership team and exceptional associates across the organization as they continue to empower customer success through data-driven healthcare.”

J.P. Morgan Securities LLC served as financial advisor to Inovalon, and Latham & Watkins LLP served as legal advisor to Inovalon and the Special Committee of the Board of Directors of Inovalon. Evercore served as financial advisor to the Special Committee. Goldman Sachs acted as lead financial advisor to Nordic Capital and Insight Partners. Citigroup also advised Nordic Capital and Insight Partners, and Kirkland & Ellis LLP served as legal advisor to Nordic Capital. Willkie Farr & Gallagher LLP served as legal advisor to Insight Partners.

About Inovalon

Inovalon is a leading provider of cloud-based platforms empowering data-driven healthcare. Through the Inovalon ONE® Platform, Inovalon brings to the marketplace a national-scale capability to interconnect with the healthcare ecosystem, aggregate and analyze data in real time, and empower the application of resulting insights to drive meaningful impact at the point of care. Leveraging its Platform, unparalleled proprietary datasets, and industry-leading subject matter expertise, Inovalon enables better care, efficiency, and financial performance across the healthcare ecosystem. From health plans and provider organizations, to pharmaceutical, medical device, and diagnostics companies, Inovalon’s unique achievement of value is delivered through the effective progression of “Turning Data into Insight, and Insight into Action®.” Supporting thousands of customers, including all 25 of the top 25 U.S. health plans, all 25 of the top 25 global pharma companies, 24 of the top 25 U.S. healthcare provider systems, and many of the leading pharmacy organizations, device manufacturers, and other healthcare industry constituents, Inovalon’s technology platforms and analytics are informed by data pertaining to more than one million physicians, 591,000 clinical facilities, 342 million Americans, and 64 billion medical events. For more information, visit www.inovalon.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, and Norway. 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 Insight Partners

 Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.

 

About 22C Capital

 22C Capital is a private investment firm committed to delivering capital and critical resources to companies operating at the intersection of technology enablement and data analytics adoption. The firm has a dedicated focus on the business services, healthcare and financial services sectors. 22C partners with world-class management teams to build companies that are leaders in their respective markets. The firm’s operational and technology resources, including its affiliated data science organization, deliver practical, real-world support to help convert businesses’ challenges into opportunities and unlock their full potential.

 

Contacts:

Inovalon
Kim E. Collins, Senior Vice President, Corporate Communications
kcollins@inovalon.com
Phone 301-809-4000 x1473

 

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

US media contact – Brunswick Group
NordicCapital@brunswickgroup.com

 

Insight Partners

 

Inovalon (Nasdaq: INOV), a leading provider of cloud-based platforms empowering data-driven healthcare, today announced the completion of its acquisition by an equity consortium led by Nordic Capital, and joined by Insight Partners, as lead co-investor, 22C Capital, and Inovalon founder and chief executive officer Keith Dunleavy, M.D. and certain Class B stockholders of Inovalon. The acquisition was previously announced on August 19, 2021, and was approved by Inovalon’s stockholders on November 16, 2021. In accordance with the terms of the agreement, Inovalon stockholders will receive $41.00 in cash for each share of Class A Common Stock and Class B Common Stock.  As a result of the transaction, Inovalon is now a privately held company and shares of Inovalon Class A Common Stock are no longer listed on the Nasdaq Global Select Market. 

“The closing of this transaction is a significant milestone for Inovalon, and we are excited to begin our company’s next chapter with our partners at Nordic Capital, Insight Partners, and 22C Capital,” said Keith Dunleavy, M.D., Inovalon’s founder and chief executive officer. “I am tremendously proud of what Inovalon and our associates have accomplished over more than two decades empowering data-driven improvements across the healthcare ecosystem. We look forward to working together with our new partners to advance Inovalon’s mission, expand our reach, and further expand the value that we bring to our customers and the patients they serve.”

“Nordic Capital is pleased to complete this compelling transaction and look forward to the partnership with Inovalon, whom we have long admired for their industry leadership, cloud-based technologies, and commitment to customers,” said Fredrik Näslund, partner, Nordic Capital Advisors. “Our commitment to accelerating innovation that delivers meaningful value and measurable results for all stakeholders across the healthcare landscape is steadfast. Nordic Capital looks forward to building upon Inovalon’s strong foundation and the significant opportunities ahead.”

“The importance of leveraging data and advanced analytics to drive improved healthcare outcomes and economics continues to grow,” said Deven Parekh, managing director at Insight Partners. “As new partners to Inovalon, we look forward to supporting the leadership team and exceptional associates across the organization as they continue to empower customer success through data-driven healthcare.”

J.P. Morgan Securities LLC served as financial advisor to Inovalon, and Latham & Watkins LLP served as legal advisor to Inovalon and the Special Committee of the Board of Directors of Inovalon. Evercore served as financial advisor to the Special Committee. Goldman Sachs acted as lead financial advisor to Nordic Capital and Insight Partners. Citigroup also advised Nordic Capital and Insight Partners, and Kirkland & Ellis LLP served as legal advisor to Nordic Capital. Willkie Farr & Gallagher LLP served as legal advisor to Insight Partners.

About Inovalon

Inovalon is a leading provider of cloud-based platforms empowering data-driven healthcare. Through the Inovalon ONE® Platform, Inovalon brings to the marketplace a national-scale capability to interconnect with the healthcare ecosystem, aggregate and analyze data in real time, and empower the application of resulting insights to drive meaningful impact at the point of care. Leveraging its Platform, unparalleled proprietary datasets, and industry-leading subject matter expertise, Inovalon enables better care, efficiency, and financial performance across the healthcare ecosystem. From health plans and provider organizations, to pharmaceutical, medical device, and diagnostics companies, Inovalon’s unique achievement of value is delivered through the effective progression of “Turning Data into Insight, and Insight into Action®.” Supporting thousands of customers, including all 25 of the top 25 U.S. health plans, all 25 of the top 25 global pharma companies, 24 of the top 25 U.S. healthcare provider systems, and many of the leading pharmacy organizations, device manufacturers, and other healthcare industry constituents, Inovalon’s technology platforms and analytics are informed by data pertaining to more than one million physicians, 591,000 clinical facilities, 342 million Americans, and 64 billion medical events. For more information, visit www.inovalon.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, and Norway. 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 Insight Partners

 Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.

 

About 22C Capital

 22C Capital is a private investment firm committed to delivering capital and critical resources to companies operating at the intersection of technology enablement and data analytics adoption. The firm has a dedicated focus on the business services, healthcare and financial services sectors. 22C partners with world-class management teams to build companies that are leaders in their respective markets. The firm’s operational and technology resources, including its affiliated data science organization, deliver practical, real-world support to help convert businesses’ challenges into opportunities and unlock their full potential.

 

Contacts:

Inovalon
Kim E. Collins, Senior Vice President, Corporate Communications
kcollins@inovalon.com
Phone 301-809-4000 x1473

 

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

US media contact – Brunswick Group
NordicCapital@brunswickgroup.com

 

Insight Partners

Categories: News

Tags:

EQT Infrastructure to acquire Icon Group, Australia’s largest integrated cancer care provider

EQT Infrastructure has agreed to acquire Icon Group from a consortium including Goldman Sachs Asset Management, QIC and Pagoda. Goldman Sachs Asset Management will remain a minority shareholder as part of the transaction

Icon Group is Australia’s largest vertically integrated cancer care provider, offering radiation oncology, medical oncology, compounding and pharmacy services through a network of facilities across Australia, New Zealand, Singapore, Hong Kong and mainland China

EQT Infrastructure will leverage its significant healthcare sector experience and global advisory network to support Icon in providing patients with high-quality cancer treatment, while supporting Icon Group’s domestic and international growth ambitions

EQT is pleased to announce that EQT Infrastructure V (“EQT Infrastructure”) has agreed to acquire Integrated Clinical Oncology Network Pty Ltd (“Icon Group”, “Icon” or the “Company”) from a consortium including Goldman Sachs Asset Management, QIC Private Capital Pty Ltd and Pagoda Investment Advisors. Current shareholder Goldman Sachs Asset Management, will retain a minority position, with Icon’s management and doctors also re-investing in Icon Group.

Icon Group is built on a strong vision to deliver the best care possible, to as many people as possible, as close to home as possible. As Australia’s largest vertically integrated cancer-care operator, Icon brings together all aspects of high-quality cancer treatment, including radiation oncology, medical oncology, compounding and pharmacy, to deliver an end-to-end seamless service for cancer patients.

Icon Group currently operates 31 Radiation & Medical Oncology clinics in Australia and New Zealand, delivering more than 260,000 treatments per year across the two countries. Over the last few years, the Company has also expanded into Asia with 14 clinics across Singapore, Hong Kong, and mainland China. Icon Group also operates Australia’s largest private cancer clinical trials program with a growing reach across the global Icon network. Icon also produces more than one million cancer drug infusions per year through its compounding business and operates a network of 51 hospital pharmacies. Icon’s doctors and clinicians have enabled it to consistently deliver world-class cancer care to its patients.

The healthcare sector is aligned with EQT’s purpose-driven investment approach, with EQT having made more than 40 investments in the sector over the past two decades, with around 20 investments during the past five years. Icon is EQT’s fourth investment in radiology & radiotherapy, having also previously owned I-MED, the largest diagnostic imaging provider in Australia as well as recently acquiring both Blikk and Meine Radiologie Holding, which together operate more than 60 radiology, radiotherapy, and nuclear medicine locations across Germany. EQT will leverage its experience and demonstrated digitalization capabilities to support Icon’s drive for better and more advanced treatment of cancer patients and continued domestic and international expansion.

Ken Wong, Partner and Head of EQT Infrastructure Asia Pacific’s Advisory Team, said, “Icon Group is revolutionising the way cancer care is delivered through an integrated model that enables access for all patients through the decentralisation of care in major cities and bringing cancer care services to the patient in one location. This best practice cancer care model is well validated in Australia and South-East Asia, and EQT’s investment will enable this next phase of growth around the world. It’s an exciting time to be involved in Icon, and importantly for EQT to be a partner in bringing this model of care to all cancer patients.”

Stephanie Hui, co-head of alternatives investing at Goldman Sachs Asset Management in Asia, said, “In our four years as majority investor, the strength of the Icon Group model has been proven and there is potential for further growth in the years to come. Remaining as a shareholder, we will leverage our global network, capital and industry expertise to continue to support Icon’s management and doctors.”

Mark Middleton, Icon Group Chief Executive Officer, said, “Icon’s commitment to innovation and the delivery of cancer care is limitless. Our international network has a track record of delivering world-class cancer care to areas of unmet need. Now, we can drive the next phase of global growth and market leadership through further investment in critical infrastructure and cutting-edge technologies. We are proud to have partnered with EQT, a company that shares our values and will enable progress to deliver on this goal, and in turn provide for more patients.”

EQT Infrastructure was advised by Morgan Stanley, Herbert Smith Freehills, Deloitte, and PwC.

With this transaction, EQT Infrastructure V is expected to be 60-65 percent invested (including closed and/or sign investments, announced public offers, if applicable, and less any expected syndication), subject to approval.

Contact
Australian media inquiries: Jim Kelly jim@domestiqueconsulting.com.au, +61 412 549 083
International media inquiries: EQT Press Office press@eqtpartners.com, +46 8 506 55 334

Categories: News

Tags:

Klingel medical metal acquires Swiss-based MedTech company Ruetschi

Klingel medical metal group (“Klingel”), owned by the IK Partners’ funds, announces that it has signed an agreement to acquire Ruetschi Technology Holding AG (“Ruetschi”). Ruetschi is a leading contract manufacturer for medical devices, with a special focus on sterile packaged single-use procedure kits for orthopedic, spinal and dental surgery. This transaction represents the fourth acquisition for Klingel since IK Partners (“IK”) acquired a majority stake in 2018.

Ruetschi was founded in 1960 and employs more than 200 people at three production sites in Muntelier (CH), Yverdon (CH) and Renquishausen (DE). Like Klingel, Ruetschi is a leading one-stop-shop with profound expertise in engineering, product innovation and development as well as regulatory requirements. It operates a state-of-the-art machine park and serves a number of top MedTech OEM customers.

Through the acquisition, Klingel further strengthens its leading position as MedTech CMO in Europe and a key partner for its global customer base highest quality requirements.

Ralf Petrawitz, CEO of Klingel, said: “Ruetschi is the perfect complement for our growing MedTech platform in Europe. The combination does not only add further manufacturing capabilities to Klingel’s offering, but also brings leading MedTech customers to the group. We look forward to continuing the journey and grow stronger and larger together with Ruetschi.”

Christoph Ruetschi, CEO of Ruetschi, said: “We are very happy to have found a good partner with Klingel to form a clear leader in our field. Klingel is the perfect home for our 200 employees and will enable the company to thrive as part of a European group. Together we will be able to serve our customers even better by offering a broader set of services.”

Press Contacts

Klingel medical metal
Ralf Petrawitz
+49 7231 6519 0

IK Partners
Maitland/AMO
James McFarlane
jmcfarlane@maitland.co.uk

Ruetschi

Ruetschi is a developer and producer of high-tech implants and instruments for the medical industry, with a special focus on sterile packaged procedure kits for spinal surgery and dental implantology. Based in Muntelier, the Swiss company operates a second location in Yverdon-les-Bains and a third in Renquishausen, Germany. It is managed jointly by Christoph Ruetschi and Christian Moser and employs more than 200 people. For more information, visit www.ruetschi.com

Read More

Klingel medical metal

Klingel medical metal (“Klingel”) has been a leading European company in the field of precision technology for more than 30 years with a strategic focus on the medical technology sector. With 650 employees, Klingel focuses on the processing of complex metal components and instruments made of titanium and stainless steel. Klingel provides the highest possible technical quality while maintaining aesthetic precision. For more information, visit www.klingel-med.de

Read More

IK Partners

IK Partners (“IK”) is a European private equity firm focused on investments in the Benelux, DACH, France, Nordics and the UK. Since 1989, IK has raised more than €14 billion of capital and invested in over 155 European companies. IK supports companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikpartners.com

Read More

Categories: News

Tags:

Baird Capital Portfolio Company ‘Cala Health’ Raises $77M in Financing

Baird Capital
Today, Baird Capital portfolio company Cala Health, the bioelectronic medicine leader setting a new standard of patient care for chronic disease, announced that it has received $77 million in financing from new and existing investors, led by Ascension Ventures.

Cala Health

The funds will be used to expand patient access and accelerate innovation, opening opportunities to explore indications beyond essential tremor, including other neurological indications like Parkinson’s disease as well as targets in psychiatry, cardiology and autoimmune disorders.

“Baird Capital’s Venture team is proud to continue supporting Cala Health,” said Amy Len Kobe, Principal with Baird Capital. “We are eager to see Cala Health’s continued growth and impact on those affected by chronic diseases through cost-saving, non-invasive technologies.”

Baird Capital initially invested in Cala Health in 2019. For the full news release related to today’s announcement, click here.

Categories: News

Tags:

Cooper Consumer Health announces the appointment of Bart Meermans as CEO and the acquisition of Lashilé Beauty

CVC Capital Partners

The acquisition of Cooper Consumer Health by CVC Capital Partners Fund VII is completed

Cooper Consumer Health (“Cooper”) a leading European independent over-the-counter drug manufacturer and distributor, is pleased to announce the appointment of Bart Meermans as its new Chief Executive Officer and the agreement to acquire French consumer health food supplement business, Lashilé Beauty.

Bart Meermans has a wealth of industry experience having spent the last ten years at Reckitt Benckiser in a number of roles, most recently as Senior Vice President responsible for leading the company’s health businesses in Africa, Middle East, Turkey and Pakistan. Under his leadership the regions completed a significant digital transformation, which tripled online sales. Prior to this, Bart spent fifteen years in managerial roles at Omega Pharma and Procter & Gamble. Bart will succeed Bauke Rouwers, who will step down from his current CEO role, effective immediately.

Cooper has also agreed to acquire French nutraceutical company Lashilé Beauty, the market-leader in the fast-growing gummy dietary supplement category in France. The business fits well the bolt-on strategy of Cooper, with a complementary product portfolio with attractive underlying growth, a scalable business model that can be rolled-out internationally, and strong online and digital marketing know-how.

Yvan Vindevogel, Chairman of Cooper, added: “We are thrilled to be bringing Bart on board. His wealth of experience in the sector will be central to helping us accelerate Cooper’s ambitious growth plans. I also want to thank Bauke for his dedication in building the company during an extraordinary period over the last two years. We are tremendously excited about the future and in particular about our new partnership with Lashilé Beauty, a partnership which will be highly complementary to both businesses, helping us provide our customers with more ways to look after their health and wellbeing.”

Bart Meermans, incoming CEO of Cooper, said: “I am delighted to join the Cooper team and I look forward to working with my new colleagues as we embark on the journey of becoming a leading European Healthcare company. I believe that providing self-care, by empowering people to take better care of their health, is meaningful and inspirational, and equally unlocking a significant runway for growth.”

On the acquisition of Cooper, CVC partnered with Vemedia founder Yvan Vindevogel, specialised healthcare fund Avista Capital Partners, the management team, and Charterhouse which made a significant reinvestment in the company. The Lashilé Beauty founders will also become shareholders in Cooper. The entry into exclusive negotiations was initially announced earlier this year and the new shareholders are excited to support the company’s organic and acquisitive growth plans.

Categories: News People

Tags: