Tag Archives: healthcare

Naxicap Partners and Ardian in exlusive negotiations to acquire a stake in the Emera Group alongside its founder Claude Cheton

Ardian

Emera Group, a leading provider of residential retirement homes in France, is reorganizing its capital structure involving Naxicap Partners, Ardian Co-Investment and its founders, Claude Cheton and Christophe Bergue.

Paris, July 26th, 2019 – Naxicap Partners, and Ardian, a world-leading private investment house, have entered into exclusive negotiations to acquire a significant stake in Emera Group, a leading provider of residential retirement homes in France, to help accelerate the Group’s international expansion.

Founded in 1987, Emera has built a network of 68 residential retirement homes with more than 6,000 beds across Europe. The Group is recognized as a leading provider of residential care home services, achieving a high satisfaction among its residents and their families. Emera is also the first company to have launched independent retirement homes as part of its establishments. In 2018, Emera’s turnover exceeded 230 million euros, 20% of which was generated outside of France – in Belgium, Luxembourg, Switzerland, Italy and Spain.

Naxicap Partners and Ardian were attracted by Emera’s unique strategic assets: a high-quality network of establishments with solid operational and financial performance, a highly experienced management team and a significant potential for international expansion. The Group intends to pursue the existing strategy, set out by Claude Cheton and his team, as it accelerates its international expansion while ensuring that outstanding quality of service remains at the heart of the company.

Claude Cheton, President and Founder of Emera Group, said: “I am very excited to welcome Naxicap Partners and Ardian, two experienced investors, to Emera Group. They share our vision and the strategy pursued by the Group since its creation. Naxicap Partners and Ardian will be able to share their experience, supporting The Group in the next stage of its development and help accelerate its international expansion. This is a new chapter for Emera and I am convinced that we will achieve our growth ambitions, as we have done in the past.”

Eric Baugas, Chief Executive Officer of the Emera Group, added: “This transaction marks the opening of a new chapter for Emera, as Naxicap Partners and Ardian support our ambition to expand in France and internationally. This partnership will enable us to play a leading role in the consolidation of the European residential retirement homes market.”

Eric Aveillan, Chairman of the Executive Board of Naxicap Partners, said: “Naxicap Partners is pleased to announce the acquisition of a significant stake in Emera Group, in consortium with Ardian and alongside Claude Cheton. The Group’s expertise, performance and the quality of its management team make it a unique investment opportunity in the sector. Naxicap Partners wishes to be active alongside the Group to help it accelerate its growth both organically and by seizing external opportunities”.

Antoine Lencou-Barème, Managing Director of Ardian Co-Investment, said: “We are extremely pleased and proud to invest in Emera Group alongside Naxicap Partners and Claude Cheton. The Group’s internationalization strategy and high-quality hotel and care services make it unique in the retirement residential care market. We have been particularly impressed by its growth over the past ten years and the quality of its team, and we look forward to supporting Emera on the next phase of its growth journey.”

LIST OF PARTICIPANTS

Emera: Claude Cheton, Eric Baugas, Sophie Cheton, Baptiste Bazire
Naxicap Partners: Eric Aveillan, Laurent Sallé, Aurélien Dorkel, Cyrille Seydoux, Nicolas Sebille, Clémence Rousselet
Ardian: Alexandre Motte, Antoine Lencou-Barème, Stéphane Guichard, Jean-Clément Pierre
Purchasers advisors :
M&A : Lazard Frères (Charles Andrez, Guillaume de Fréminet, Raoul Mansour, Pierre-Hadrien Francey) ; Will Consulting (Jacques Ittah)
Financing : Lazard Frères (Emmanuel Plantin, Xavier Gautrin)
Corporate lawyer : Edge (Matthieu Lochardet, Stéphanie Dourdin)
Financing lawyer : Mayer Brown (Patrick Teboul)
Financial due diligence : KPMG (Mathieu Wallich-Petit, Mohamed Macaigne, Stéphane Kuster)
Real estate due diligence : KPMG (Tanneguy de Guerpel, Louis Pelletier) ; Cushman & Wakefield
IT due diligence: KPMG (Laurent Gobbi, Paul Pillet)
Legal, social, fiscal due diligence : Fidal (Anne Fréchette-Kerbat, Mikael Maheust, Régis Hallard, Rodolphe Meneux), Depardieu (Paul Talbourdet)
Strategic Due diligence : BCG (Benjamin Entraygues, Quentin Decouvelaere, Mathilde Marret)
Insurance due diligence: Marsh (Charles Amblard, Jean-Marie Dargaignaratz)
Management advisors :
Financial counsel : Oloryn Partners (Eric Lesieur)
Lawyer : SVZ (Franck Sekri)
Seller’s advisors :
M&A : Transactions & Cie (François Paillier, Sébastien Chabre)
Corporate lawyers : Frieh Associés (Michel Frieh)
Financial due diligence : KPMG (Hervé Richard)

ABOUT NAXICAP PARTNERS

As one of the top private equity firms in France, Naxicap Partners has €3.1 billion in assets under management. As a committed, responsible investor, Naxicap Partners builds solid, constructive partnerships with entrepreneurs so that their projects can succeed. The firm has 39 investment professionals spread across five offices in Paris, Lyon, Toulouse, Nantes and Frankfurt.
  www.naxicap.fr/en

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$96bn 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 610 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 around 970 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
www.ardian.com

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Gimv and other shareholders sell biopharmaceutical company Breath Therapeutics to Zambon after a fast development

GIMV

25/07/2019 – 08:00 | Portfolio

Today, Gimv, Sofinnova and Gilde Healthcare announced the sale of biopharmaceutical company Breath Therapeutics. Specialising in advanced and first-in-class inhalation therapies for severe respiratory diseases, Breath Therapeutics collected around EUR 43.5 million in one of the largest start-up financing rounds in 2017. With the support of the investors, two global Phase III trials are currently underway for inhalation therapy solutions for bronchiolitis obliterans syndrome (BOS), an orphan lung disease with fatal outcome and no therapies approved. The strategic buyer is the Italian family-owned pharmaceutical and chemical company Zambon.

In March 2017 Gimv and Sofinnova Partners (France) led an investment in Breath Therapeutics. Other investors included Gilde Healthcare (Netherlands) and PARI Pharma as the licensor of the inhalation devices. In addition to financial resources, Gimv was instrumental in supporting Breath Therapeutics with its expertise during the spin-off process, the setup of a syndicated financing structure, and during the implementation of both strategy and streamlined internal processes. By bringing in this external expertise, Breath Therapeutics was able to grow their in house innovation into a mature therapy and to establish an excellent expert team in Europe and USA.

Dr. Karl Nägler, Partner and responsible for Life Sciences within Gimv’s Health & Care team, says: “ We are pleased about the successful development of the company over the last two years, as Gimv has played a key role in the strategic alignment and setup of the platform for growth right from the start. The potential impact of Breath Therapeutics and the drug was apparent to us at an early stage, since lung diseases are unfortunately becoming more common at a dramatic rate – especially due to environmental factors and changing lifestyle habits. Breath Therapeutics – with the help of Zambon – is well-positioned for successfully further developing and marketing the product in the future and expanding into new fields of application.”

Dr. Jens Stegemann, Chief Executive Officer of Breath Therapeutics, commented: “At Breath Therapeutics, we have created a product capable of changing lives around the world. In Zambon, an ethical company with a strong heritage of innovation and a genuine commitment to a patient-orientated approach, we have a partner who shares our vision. We have advanced a potential first-in-class therapy for BOS, just started two global Phase III studies, to a strong position but with Zambon’s infrastructure, expertise and commitment to R&D, we have the chance to expedite the process of bringing this critical treatment to as many patients as possible, as soon as possible. We thank our former partners Gimv, Sofinnova and Gilde Healthcare for supporting us in the important first few years, while we were taking the first steps towards developing our business.”

This exit has an immediate positive impact of around EUR 20 million on the Net Asset Value of Gimv as of 31 March 2019. Gimv has realised a return on this investment which is far above its long-term target of 15%.

For more information on this transaction, we refer to the attached press release of Zambon.

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Divestment of Aleris

Investor

Patricia Industries, a part of Investor AB, has signed an agreement to divest Aleris to Triton at an enterprise value of SEK 2.8bn. Adjusted for net debt of approximately SEK 550m and estimated transaction costs of SEK 200m this equals an equity value of SEK 2bn. Doktor24 will remain within Patricia Industries and be included in Financial Investments.

Aleris is a provider of specialty care, healthcare and diagnostics with a strong footprint across Scandinavia with high medical quality, customer satisfaction and strong offerings. Aleris serves 1.1 million patients and conducts 1 million radiological examinations annually.

“During our ownership since 2010, Aleris has developed and strengthened its offering and achieved higher customer satisfaction. However, the financial performance has not been satisfactory. As owners we always strive to do what we deem is best for our companies and our shareholders. In late 2018, Aleris divested Aleris Care to Ambea, a new good owner of the business. Now the healthcare business is divested to Triton, which we see as a good owner that will continue to develop the offering to the patients and customers. Through this transaction we will free up resources for further development of our strong platforms within Patricia Industries”, says Johan Forssell, CEO of Investor.

“As a focused healthcare company, Aleris has further developed its business, accelerated the restructuring of the Swedish operations and won new contracts. With Triton as an owner with broad industry experience, the company has a strong platform to continue to provide high-quality healthcare services with satisfied customers”, says Christian Cederholm, Co-Head, Patricia Industries.

The transaction is subject to regulatory approvals and closing is expected during the third quarter 2019.

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Rhapsody and Corepoint Merge to Advance Interoperability in Healthcare

HG Capital

Combined Entity Brings Complementary Resources and Expertise to Support Critical Interoperability Initiatives Including FHIR®, Cloud Transformation and National Data Exchange Networks

 

BOSTON, Massachusetts – July 10, 2019 – Rhapsody, a global leader in healthcare data interoperability, today announced that the company will merge with Corepoint Health, the supplier of the Best in KLAS® healthcare integration platform. The transaction will bring together two companies at the forefront of interoperability and create a dynamic combination of technology, talent, services, and trusted customer relationships to address the most complex healthcare interoperability challenges.

Both companies will continue to support and advance their respective solutions, while the combined entity will also devote its expanded resources to addressing the growing need for interoperability among regional, national and international healthcare providers and vendors.

“Corepoint’s platform offers incredibly fast, turn-key operations for provider organizations, HIEs and OEM partners, all with industry leading customer satisfaction. Complementing this with Rhapsody’s fully customizable and multi-platform capabilities creates great synergies for our current and future customers,” said Erkan Akyuz, President and CEO, Rhapsody. “Both entities share great technical depth and breadth and both have maintained long-standing customer relationships, which together yields a broader foundation on which to build the future of interoperability in healthcare. Together, we can better support our customers to fulfill all of their changing and future needs.”

Available on premises and as a cloud-based service, the Rhapsody and Corepoint interoperability platforms offer comprehensive routing and transformation functionality for every operating environment, offering highly differentiated features, applications and end customer focuses. The two platforms also support commonly used messaging standards and protocols such as FHIR®, HL7® V2, CCD/C-CDA and DICOM. These integration engines are among the most secure technology platforms in the healthcare industry, with customer bases that include the entire healthcare ecosystem and across the globe, including provider organizations, technology vendors, HIEs and public health systems.

“We are entering a new era in healthcare where the emphasis will be on expanding ecosystems and establishing new data trading partner relationships to optimize clinical and operational workflows. These initiatives will be powered by interoperability and data management: healthcare organizations that can excel in these areas will have a significant competitive advantage,” said Sean Cassidy, CEO of Corepoint Health. “The combination of Rhapsody and Corepoint enables our customers to continue to get tremendous value out of the products and services they love, while having the confidence that their interoperability partner is heavily invested in helping them confront the challenges they will face in the future.”

“We move decisively when perfect opportunities present themselves,” said Philippe Houssiau, Operating Partner at Hg. “The opportunity to bring Corepoint and Rhapsody together was incredibly compelling. Our investments in these two phenomenal companies demonstrate how excited we are about the future of interoperability. Rhapsody is off to an amazing start as an independent company: joining forces with Corepoint will enable the combined team to accelerate the delivery of FHIR-based services, cloud-based integration solutions and support for regional and national interoperability frameworks.”

Learn more here.

About Corepoint 

Corepoint Health delivers a powerful yet simplified approach to internal and external health data integration and exchange for hospitals, radiology centers, laboratories, and clinics. Our software solutions help health care providers and vendors achieve their interoperability goals. For the 10thconsecutive year, Corepoint Integration Engine has earned the #1 ranking in the Best in KLAS Awards: Software & Services report. To learn more about Corepoint Health, visit https://corepointhealth.com

About Hg

Hg is a specialist private equity investor, committed to building businesses that change the way we all do business, through deep sector specialization and dedicated operational support. We are a leading European investor in software and services businesses, with increasing global presence, having built a team of 170 people over 25 years. Hg partners with the businesses and management teams we invest in, sharing best-practice ‘playbooks’ and leveraging Hg’s executive and portfolio network as a powerful tool for knowledge sharing across comparable businesses. Based in London, Munich and New York, Hg has funds under management of around $13 billion serving some of the world’s leading institutional and private investors. For further details, please see www.hgcapital.com

Media Contacts:

Rhapsody
Andrea Weiss
+1 508.269.7742		 Corepoint Health
Jeff Zinger
+1 214.618.7031		 Hg
Tom Eckersley
+44 207 089 7967

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CVC funds sign agreement for ADIA to acquire 30% of Domestic & General

Company’s appliance care plans protect 23 million appliances for 16 million customers across Europe and Australia

Domestic & General (“D&G”), the leading appliance care specialist, is pleased to announce that certain funds (“CVC Funds”) advised by CVC Capital Partners (“CVC”) have reached an agreement with Luxinva S.A., an entity ultimately wholly-owned by the Abu Dhabi Investment Authority (“ADIA”), for ADIA to acquire a circa 30% stake in D&G. CVC Funds will continue as D&G’s majority shareholder via CVC Fund VII. The acquisition is expected to close by the end of 2019, subject to customary merger control and regulatory clearances.

D&G’s appliance care plans protect individuals and families against the unexpected costs of appliance repairs and replacements. With a presence in 11 countries across Europe and Australia, D&G protects approximately 23 million appliances for approximately 16 million customers. It has a leading position in the UK and is present in 1 in 3 households.

Since CVC Funds’ investment in 2013, D&G has grown annual revenues from £633m to £811m, expanded its operations across Europe, and is currently exploring further international opportunities. D&G has also invested significantly in enhancing its customer service, technology infrastructure and digital capabilities to support continued delivery of its ambitious growth plans.

David Tyler, Chairman of D&G said: “We are delighted to welcome a significant new investor to D&G. ADIA brings a wealth of investment experience from around the globe and has a strong reputation for supporting the growth of high quality companies such as D&G. With ADIA’s investment alongside CVC Funds’ ongoing commitment, we will have a new ownership structure underpinned by two stable and well-resourced global investors. It is a strong platform enabling us to focus on our growth plans in the UK and internationally. All of us at D&G look forward to working with them.”

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Rhapsody and Corepoint merge to advance Interoperability in Healthcare

HG Capital

10 July 2019. Rhapsody, a global leader in healthcare data interoperability, today announced that the company will merge with Corepoint Health, the supplier of the Best in KLAS® healthcare integration platform. The transaction will bring together two companies at the forefront of interoperability and create a dynamic combination of technology, talent, services, and trusted customer relationships to address the most complex healthcare interoperability challenges.

Please find the full press release here

“We move decisively when perfect opportunities present themselves,” said Philippe Houssiau, Operating Partner at Hg. “The opportunity to bring Corepoint and Rhapsody together was incredibly compelling. Our investments in these two phenomenal companies demonstrate how excited we are about the future of interoperability. Rhapsody is off to an amazing start as an independent company: joining forces with Corepoint will enable the combined team to accelerate the delivery of FHIR-based services, cloud-based integration solutions and support for regional and national interoperability frameworks.”

Categories: News

Tags:

Rhapsody and Corepoint merge to advance Interoperability in Healthcare

HG Capital

10 July 2019. Rhapsody, a global leader in healthcare data interoperability, today announced that the company will merge with Corepoint Health, the supplier of the Best in KLAS® healthcare integration platform. The transaction will bring together two companies at the forefront of interoperability and create a dynamic combination of technology, talent, services, and trusted customer relationships to address the most complex healthcare interoperability challenges.

Please find the full press release here

“We move decisively when perfect opportunities present themselves,” said Philippe Houssiau, Operating Partner at Hg. “The opportunity to bring Corepoint and Rhapsody together was incredibly compelling. Our investments in these two phenomenal companies demonstrate how excited we are about the future of interoperability. Rhapsody is off to an amazing start as an independent company: joining forces with Corepoint will enable the combined team to accelerate the delivery of FHIR-based services, cloud-based integration solutions and support for regional and national interoperability frameworks.”

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Rhapsody and Corepoint merge to advance Interoperability in Healthcare

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HG Capital

10 July 2019. Rhapsody, a global leader in healthcare data interoperability, today announced that the company will merge with Corepoint Health, the supplier of the Best in KLAS® healthcare integration platform. The transaction will bring together two companies at the forefront of interoperability and create a dynamic combination of technology, talent, services, and trusted customer relationships to address the most complex healthcare interoperability challenges.

Please find the full press release here

“We move decisively when perfect opportunities present themselves,” said Philippe Houssiau, Operating Partner at Hg. “The opportunity to bring Corepoint and Rhapsody together was incredibly compelling. Our investments in these two phenomenal companies demonstrate how excited we are about the future of interoperability. Rhapsody is off to an amazing start as an independent company: joining forces with Corepoint will enable the combined team to accelerate the delivery of FHIR-based services, cloud-based integration solutions and support for regional and national interoperability frameworks.”

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Ardian arranges unitranche financing for 21 Invest France’s acquisition of controlling stake in Landanger

Ardian

Paris, July 5th 2019 – Ardian, a world leading private investment house, today announces the arrangement of a unitranche financing facility to support 21 Invest France’s partnership with Landanger, the French leader in the manufacturing and distribution of reusable surgical instruments and maintenance services. The unitranche package will also include a committed acquisition facility to finance future build-ups.
Founded in 1947 in Chaumont, Landanger has become a leading player in France with an international presence in nearly 60 countries. Through the reputable Landanger and Delacroix-Chevalier brands, the family-run company has developed a strong expertise in the design and distribution of surgical instruments for open and minimally invasive surgeries, especially in cardiovascular and thoracic applications. It has also maintained its historic expertise in the manufacturing of complex ancillaries for orthopedic implants through its Maire-Didier brand.
Thanks to a wide range of innovative products (7,500 SKUs), a strong commitment to quality of service, and a well-established presence in France, the Landanger Group works with 85% of French public and private hospitals and clinics, with which it has formed deep and long-standing relationships.
With state-of-the-art technical expertise and a recognized quality of service, Landanger has a strong position in France but also internationally, with foreign sales representing roughly 30% of its turnover. This is driven by the rising number of surgical operations and the growing need for specialty instruments in increasingly complex procedures.
21 Invest France will help Landanger strengthen its leading position in France by expanding its offer through improved innovation capacity (recent launch of a new Ear, Nose and Throat range), and to accelerate its internationalization. Targeted build-ups, facilitated by the unitranche facility provided by Ardian, are intended to further support the growth plan, bringing synergies both in terms of products and geographic coverage.
Grégory Pernot, Director in the Private Debt team of Ardian highlighted: “As an agile and flexible financing product, the unitranche immediately resonated with Landanger and 21 Invest’s ambition for its strategic growth plan, both in France and internationally.”
Benoit Landanger, CEO, commented: “The Landanger Group has historically been driven by a dynamic innovation strategy, and I am happy to partner up with 21 Invest France and benefit from the support of Ardian’s financing in order to bring the company to its next expansion phase.”
François Barbier, Managing Partner & CEO and Antoine Vigneron, Partner at 21 Invest France, commented: “Landanger has showcased its technical know-how and long-standing expertise in surgical instruments since its inception over 70 years ago. We look forward to embarking on the next stage of growth alongside the CEO. We firmly believe Landanger will become an international leader in surgical instruments, supported by Ardian’s unitranche financing, which will grant us flexibility and speed of execution to strategically enhance the company’s footprint.”
Guillaume Chinardet, Head of Private Debt France and Managing Director at Ardian, concluded: “We have been very impressed by the company’s achievements in this space, and are delighted and proud to be a key partner of Landanger going forward. Landanger stands for the 119th transaction since the creation of Ardian’s Private Debt activity, reflecting the longstanding track-record of the team since 2005.”

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$90bn 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 610 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 around 880 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.
www.ardian.com

ABOUT 21 INVEST

21 Invest supports resilient mid-market companies based in France, Italy and Poland through local Funds and accompanies them in a new stage of development. 21 Invest positions itself as an active shareholder alongside management teams, providing a strategic vision for companies, enabling them to accelerate their growth, improve their operational efficiency and achieve ambitious long-term projects. Over the past 27 years, 21 Invest has completed more than 105 investments and raised more than € 2 billion from European and global institutional investors.
www.21invest.com

LIST OF PARTIES INVOLVED

Landanger: Benoit Landanger
21 Invest: François Barbier, Antoine Vigneron, Dorothée Chatain
Ardian Private Debt: Guillaume Chinardet, Grégory Pernot, Clément Chidiac
Financing Legal Advisor (Ardian): Willkie Farr & Gallagher – Paul Lombard, Igor Kukhta, Ghita Lorabi

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SIFI to acquire a pharmaceutical product portfolio in France

SIFI, the Italian leader in ophthalmology, has acquired Dacudoses and Novoptine, leading ophthalmic antiseptic brands in France with a total turnover of about € 6 million, from Laboratoire Gifrer Barbezat.

Dacudoses is the leading reimbursed brand of the French ophthalmic antiseptic segment, prescribed by ophthalmologists and general practitioners. Dacudoses is commonly used as an eyewash in case of light conjunctivitis and/or infections, benefitting from a very strong brand recognition in France.

Novoptine is an overt-the-counter antiseptic collyrium used to treat eye infections and conjunctivitis.

SIFI will market both products directly through its subsidiary SIFI France, starting from January 2020. The reference market segment is expected to grow thanks to increased incidence of eye disorders, such as bacterial and allergic conjunctivitis, among the aging population.

According to the Ocular Surface Infections Guidelines by AFSSAPS (Agence Française de Sécurité Sanitaire des Produits de Santé), non-serious bacterial conjunctivitis in adults, in the absence of risk factors, should be treated by washing the eye with saline solution associated with antiseptic solutions instead of using antibiotics.

With a leadership position in Italy, Romania and Turkey, a consolidated presence in Mexico and more recently also in Spain, SIFI is implementing an international expansion strategy, with the aim of becoming a key independent player in ophthalmology, leveraging on its know-how, expertise and unique assets.

After this acquisition, thanks to fast growing export, SIFI’s international sales will represent about 40% of turnover and are expected to increase significantly in the coming years.

“This strategic deal represents a significant milestone for our company, being the first acquisition made since our foundation, and will accelerate our penetration into France, one of the largest and most competitive markets in Western Europe.” declared Fabrizio Chines, Chairman and CEO of SIFI “Dacudoses and Novoptine are very complementary with our proprietary portfolio, which we expect to launch through SIFI France starting from 2020, in line with a well-balanced regulatory, market access and marketing strategy.“

“SIFI is an example of excellence in our portfolio that we are proud to support in its international expansion” commented Alessandro Benetton, Founding Managing Partner of 21 Invest “This operation is strategic to reach its ambitious goal of creating a leading company in the international ophthalmic market”.

Funding for the acquisition, along with other refinancing facilities, was provided by a consortium of Italian banks.

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