Tag Archives: healthcare

StatLab Medical Products acquires Pyramid Innovation

Audax Group

StatLab Medical Products (“StatLab”), a leading developer and manufacturer of diagnostic supplies and equipment for the anatomic pathology market, has acquired Pyramid Innovation (“Pyramid”). The acquisition broadens StatLab’s instrument manufacturing capabilities by adding slide and cassette printers. StatLab is a portfolio company of Audax Private Equity and Linden Capital Partners.

Pyramid Innovation was founded in 2013 by Tom Hughes and is based in Sussex, England. Prior to founding Pyramid, Tom and his team developed the first ever automated pathology slide and cassette printers. Today, Pyramid Innovation is a global leader in developing instrumentation that improves the efficiency of pathology laboratory workflow.

“We are excited to welcome Pyramid Innovation into the StatLab family” said Mike Karsonovich, CEO of StatLab. “Partnering with Pyramid positions StatLab as a direct source of high-quality laboratory automation equipment for our U.S. customer base, in addition to expanding our reach into the international market through established channel partners.”

Tom Hughes, Managing Director of Pyramid, adds, “StatLab is an ideal fit as a partner for continued innovation in the field. We look forward to sales of our newly-launched PiSmart Cassette printers and continued investment in the product pipeline – we have more exciting innovations in development to further benefit our customers around the world.”

Pyramid operations will remain in Sussex and continue to be led by Mr. Hughes.

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Rigaku Acquires MILabs

Thuja Capital

Thuja announces the acquisition of MILabs (Houten, the Netherlands) by Rigaku Corporation (Tokyo, Japan). Founded in 2006, MILabs provides high-performance SPECT and PET equipment with higher efficiency and accuracy than conventional alternatives and unique capabilities to image nuclear therapeutics and multiple tracers simultaneously. MILabs has developed a unique multi-modal system that enables fully integrated high performance X-ray CT, PET, SPECT, and Optical Imaging, which addresses customer needs in terms of flexibility at lower costs. The company has experienced rapid growth across various imaging modalities over the last few years.

 MILabs emerged from the academic-entrepreneurial ecosystems of Utrecht and Delft, spinning out of University Medical Center Utrecht and TU Delft, both in the Netherlands. MILabs attracted first venture capital investment from Thuja Capital Healthcare Fund II and Value Creation Capital in 2016. The investment was largely based on MILabs’ commercial potential and the promise its best-in-class imaging technology holds for the development of new therapies by elucidating fundamental disease biology. The company’s successful growth and acquisition by Rigaku provides an outstanding example of academic entrepreneurship, and underscores the potential and the strength of the European innovation landscape.

“We are very excited about the sale of MILabs to Rigaku and the growth potential this acquisition creates for MILabs as part of the Rigaku/Carlyle family. We are also very pleased with the successful growth of MILabs and the excellent return we have been able to realize from the sale of this great imaging technology company”, says Willem van den Berg, managing partner Value Creation Capital.

 “MILabs technology is contributing to the quest for new therapies and new insights into disease biology in research labs around the world every day. Novel treatments emerging from this research have the potential to impact the lives of millions of patients worldwide. We are therefore very excited about the accelerated growth prospect that the acquisition of MILabs by Rigaku creates for this outstanding technology”, says Florian Ludwig, partner at Thuja.

 “We are very proud of what Dr. Beekman and the MILabs team have achieved, and are thrilled to see its next steps. Since its inception, we have been supporting MILabs and have witnessed their growth into a world leader in preclinical imaging. They exemplify our mission to bring world-class research to societal and economic impact”, says Jaap de Bruin from Utrecht Holdings, the Tech Transfer Office of UMC Utrecht.

“TU Delft not only conducts ground-breaking research, but wants to make an impact for a better society as well. That is why we support the development of a spin-off company like MILabs, which has the potential to impact the lives of patients through better imaging. We congratulate Professor Beekman with the acquisition of MILabs by Rigaku Corporation and look forward to continuing our research cooperation,” says Paul Althuis, director of Delft Enterprises, the investment arm of TU Delft.

Please read full press release here.

About Thuja
Thuja Capital Management (Thuja) manages several venture capital funds aimed at building and scaling companies in the fields of (bio)pharmaceuticals, MedTech and digital health. In addition to generating a financial return for its investors, Thuja’s investments positively impact the health and well-being of patients. Thuja serves physicians and patients worldwide by providing capital to daring entrepreneurs with ground-breaking product concepts locally. For more information visit www.thujacapital.com.

About Value Creation Capital
Value Creation Capital (VCC) invests in companies that are active in Deep Tech: High-Tech and AI (via Deep Tech Fund and TechNano Fund) en Cybersecurity (via Security of Things Fund). VCC was founded in 2005 by serial entrepreneurs who started, built and sold several interesting fast-growing IT and Tech companies. VCC differentiates by combining “Intellectual Capital”, sector experience & expertise and an extensive network with active value creation of their portfolio companies “to the next level”. The focus of VCC TechNano Fund is in high-tech companies, with especially optical applications. See www.valuecreationcapital.com.

About University Medical Center Utrecht and Utrecht Holdings
University Medical Center Utrecht (UMC Utrecht) is one of the largest public healthcare institutions in the Netherlands. UMC Utrecht is a leading international healthcare provider, medical school and research institute and its 11,000+ employees are dedicated to prevent disease, improve healthcare, develop new treatment methods and refine existing ones, with patient safety and quality as cornerstones. Strategic research programs are Brain, Child Health, Circulatory Health, Infection & Immunity, Personalized Cancer Care and Regenerative Medicine & Stem Cells. UMC Utrecht is embedded in a vibrant and entrepreneurial science community where knowledge about health, disease and healthcare is generated, validated, shared and applied. Utrecht Holdings, as its TTO, invests in promising spin-offs and intellectual property originating from scientific research. For more information, visit www.umcutrecht.nl and www.utrechtholdings.nl.

 About TU Delft
TU Delft has a strong foundation. As the builder of the world-famous Dutch waterworks and a pioneer in biotechnology, TU Delft is a leading international university that combines science, development, and design. As the oldest and largest technical university in the Netherlands, TU Delft provides world-class education, research, and innovation. Generations of its engineers have proven to be entrepreneurial problem solvers in business and social contexts. TU Delft’s eight faculties offer 16 bachelor’s and more than 32 master’s courses. More than 25,000 of its students and 6,000 of its employees share a fascination with science, design, and technology. Their shared mission: impact for a better society.

About MILabs B.V.
Since its foundation in 2006, MILabs has provided leading-edge In-Vivo imaging devices with the development of novel PET, SPECT, CT, and Optical Tomography technologies. MILabs’ devices have been installed worldwide at universities, CROs, and pharmaceutical companies.

MILabs’ U-SPECT delivers sub-quarter-mm resolution images of radiolabeled tracers. MILabs’ VECTor enables sub-mm PET, simultaneously with SPECT imaging. In 2015, MILabs launched micro-CT with outstanding performance, available as integrated modules in multi-modal systems. More recently, MILabs launched 3D automated and various Optical 2D and 3D modules. In addition, a clinical SPECT scanner (G-SPECT) with unmatched performance is currently under development.

MILabs’ single and multi-modal systems are built in more than 15 different base configurations to best meet the researcher’s application needs, offering exceptional performance and cost-effectiveness. Whether offered as stand-alone units or in multi-modal configurations, MILabs is truly pushing the performance limits in terms of image quality and In-Vivo imaging functionality. Imaging with an MILabs system is guided by a simple, intuitive and user-friendly operation to ensure highly efficient workflows. For more information, please visit www.milabs.com

Please read full press release here or link to Rigaku.

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Ardian arranges a unitranche financing to support the acquisition of Lagarrigue by Naxicap Partners

Ardian

27 July 2021 Private Debt France, Paris

Paris, July 27th, 2021 – Ardian, a world leading private investment house, today announces the arrangement of a unitranche facility with the participation of a wholly-owned subsidiary division of Caisse de dépôt et placement du Québec (CDPQ), a global investment group, to support the investment of Naxicap Partners in Lagarrigue, a leading global specialist in large scale external orthopedic devices for the treatment of disabilities, alongside the Company’s management.

Headquartered in Toulouse and founded in 1976, the French-based Group has extended its presence since 2016 into neighboring countries, such as Belgium, Switzerland and Spain. This development was enabled by an active acquisition strategy, which now results in over 30% of its sales being achieved internationally.

Together with Naxicap, the Group has built an ambitious roadmap projected to expand its network of agencies and strengthen its strategy of vertical integration into the production of components and the development of digital technologies dedicated to ortho-prosthetists. Social and Environmental Responsibility is at the heart of Lagarrigue’s business model which focuses on the well-being and care of all patients, inclusive of all ability, age or level of independence.

Jean-Pierre Mahé and Alain Montean, respectively Chairman and CEO of the Lagarrigue Group, stated: “The last five years have enabled us to accelerate the transformation of our company. In partnership with Naxicap, whom we thank for their trust, we will keep capitalizing on the Group’s values and the fundamentals of our model in order to consolidate our market and enter new geographies. We are glad to carry on our adventure with Ardian, on the financing side this time, and CDPQ around the table, and we know they will continue to be trusted partners for the Group.”

“We are thrilled to announce the acquisition of a majority stake in Lagarrigue alongside Jean-Pierre Mahé, Alain Montean, Nathalie Baracetti and their teams. The Group’s expertise, its global positioning and the values of its management team make it a rare investment opportunity and a highly motivating challenge”, said Luc Bertholat, Member of the Board of Naxicap Partners, and his team.

Grégory Pernot, Managing Director in the Private Debt team at Ardian underlined: “We are very pleased to be involved in this new chapter of Lagarrigue’s development, which has showcased an impressive historical growth both organically and via acquisitions, thanks to the excellent quality of its management team. We thank Naxicap and Lagarrigue for their trust and are eager to prove once more that Ardian is a valuable long-term partner.”

ABOUT ARDIAN

Ardian is a world-leading private investment house with assets of US$112bn 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 750 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of more than 1,200 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.

www.ardian.com

ABOUT CDPQ

At Caisse de dépôt et placement du Québec (CDPQ), we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public retirement and insurance plans, we work alongside our partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate and private debt. As at December 31, 2020, CDPQ’s net assets total CAD 365.5 billion. For more information, visit cdpq.com, follow us on Twitter or consult our Facebook or LinkedIn pages.

www.cdpq.com

ABOUT NAXICAP PARTNERS

As one of the top private equity firms in France, Naxicap Partners – an affiliate of Natixis Investment Managers* – has €4.3 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

LIST OF PARTIES INVOLVED

  • Lagarrigue

    • Alain Montean, Jean-Pierre Mahé, Nathalie Barracetti

  • Naxicap

    • Luc Bertholat, Alban Sarie, Dominique Frances, Claire Lesellier

  • Ardian Private Debt

    • Grégory Pernot, Clément Chidiac, Hadrien Barnier

  • Financing Legal Advisor (Winston & Strawn)

    • Mounir Letayf, Adeline Roboam, Alexandre Desroches

PRESS CONTACTS

ARDIAN – Headland

VIKTOR TSVETANOV

VTsvetanov@headlandconsultancy.co.uk Tel: +44 207 3435 7469

 

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Nordic Capital to invest in Dutch Equipe Zorgbedrijven in partnership with founders and management

Nordic Capital
  • Nordic Capital will further strengthen Equipe Zorgbedrijven’s successful concept of high-quality outpatient specialist care

  •  The investment will drive Equipe Zorgbedrijven’s international expansion and investments in digitalisation and innovation, benefitting both employees and clients

Nordic Capital, a leading global healthcare investor, has signed an agreement to invest in Equipe Zorgbedrijven (“Equipe” or “the Company”), a fast-growing private provider of outpatient healthcare in the Netherlands. The investment will be made in partnership with Equipe’s founders and management and aims to further strengthen the Company’s relentless focus on quality of care. It will also help Equipe to present its offer to a wider group of patients by providing further resources to accelerate growth by digitalisation and international expansion. Equipe’s current investors, the European investment company Gimv, will transfer its holding to Nordic Capital at the completion of the transaction.

Equipe is one of the leading providers of specialised care and outpatient clinics in the Netherlands. The Company was founded in 1995 and is active in hand and wrist surgery & therapy and aesthetic care, with a growing presence in orthopaedics, ophthalmology & general surgery. Equipe’s management has a strong focus on growing the Company in a sustainable way to deliver high-quality care, innovative treatments and high standards, which in turn allows for greater specialisation and additional sub-specialities.

“Nordic Capital is excited to support Equipe’s successful strategy in partnership with its strong management team and skilled employees. Nordic Capital will help Equipe to further accelerate growth by strengthening and expanding Equipe’s differentiated integrated high-quality care model and customer offering by investing in medical excellence and digitalisation initiatives,” says Philippe Neuschäfer, Partner, Nordic Capital Advisors.

Equipe has experienced strong development in recent years and has grown significantly in size. It currently has 6 large clinics (serving 87,000 patients in total in 2020) and over 20 outpatient centres in the Netherlands. In 2020, Equipe performed more than 110,000 treatments with over 700 employees, of which 130 are physicians.

“I’m very pleased to welcome Nordic Capital as our new partner. Together, we will focus on further developing Equipe’s strategic agenda in line with our emphasis on quality, patient care, operational excellence and our entrepreneurial DNA. Nordic Capital has extensive experience in successfully growing healthcare companies and is the ideal partner to help us reach more patients with our care offering” says Jak Dekker, CEO and Founder of Equipe Group.

“Equipe has an ambitious agenda, with quality and patient orientation at the forefront. I look forward to working together with Nordic Capital to further focus on a sustainable development and leverage on their operational knowledge, broad network and strong expertise,” says Joris van Eijck, CEO of Equipe Netherlands.

Nordic Capital is one of the most experienced healthcare investors with 30 investments across Europe and North America and over EUR 7 bn invested in the sector since its inception in 1989. The investment in Equipe lies at the heart of Nordic Capital’s healthcare investment strategy and focus on responsible investments and will be made as part of its mid-market strategy.

The transaction is subject to customary regulatory approvals. The terms of the transaction were not disclosed.

 

Media contacts:

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

Equipe Zorgbedrijven
Marco van der Broeck, Marketing & Sales Manager
Tel. +31 636 408 763
e-mail: m.vanderbroeck@equipezorgbedrijven.nl

 

About Equipe Zorgbedrijven  

Equipe Zorgbedrijven was founded in 1995 and is one of the leading providers of specialist care in the Netherlands. In 2020, over 87,000 patients were treated at the 6 main locations (clinics) and over 20 outpatient clinics throughout the Netherlands. Equipe Zorgbedrijven includes Xpert Clinics (hand and wrist care, orthopaedics and proctology), Xpert Handtherapie, Velthuis kliniek (cosmetic treatments),CosMedic and Oogkliniek Heuvelrug (ophthalmology). In total, there are more than 700 employees, including 130 doctors, working at the aforementioned brands. Equipe Zorgbedrijven continually invests in its staff, clinics, facilities, IT infrastructure and e-Health applications with the ambition of offering the right care in the right place at the right price. Equipe Zorgbedrijven has been a pioneer in the field of entrepreneurship in healthcare in the Netherlands for years. For more information please see www.equipezorgbedrijven.nl.

 

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 17 billion in close to 120 investments. The most recent funds are Nordic Capital Fund X with EUR 6.1 billion in committed capital and Nordic Capital Evolution Fund 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 any, or all, Nordic Capital branded funds and vehicles and associated entities. The general partners and/or delegated portfolio manager of Nordic Capital’s funds and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors”.

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Gimv transfers stake in Equipe Zorgbedrijven – Dutch group of specialised care clinics – to Nordic Capital

GIMV
Topic: Divestment

Equipe Zorgbedrijven today announces an important step in its further (international) growth. Following the group’s successful development, based on its high-quality concept of specialist outpatient care, Gimv is transferring its stake in Equipe Zorgbedrijven to Nordic Capital. Together, the founders, management and the new shareholder will focus on international expansion, digitalisation and innovation.

In 2015 Gimv acquired an equity stake in Equipe Zorgbedrijven (Eindhoven – NL, www.equipezorgbedrijven.nl), a leading provider of specialist care through outpatient clinics in the Netherlands. Founded in 1995, the company is today the market leader in the Netherlands in hand and wrist surgery & therapy, has a strong position in aesthetic care and a growing presence in orthopaedics, ophthalmology & general surgery. In recent years, Equipe Zorgbedrijven’s management has focused on growing the company in a sustainable way to deliver high quality care, innovative treatments and improving standards. These in turn have opened the way to greater specialisation and additional sub-specialties, ultimately resulting in demonstrably better and meaningful care.

From the start, Equipe Zorgbedrijven has continuously invested in staff, care paths, clinics, facilities and an optimal IT infrastructure aimed at offering the right care in the right place at the right price. Creating sufficient critical mass, strengthening management and being at the forefront of developments and innovations have been essential here. During the years of Gimv’s shareholding, Equipe Zorgbedrijven has grown strongly in size and quality.

The company currently has 6 larger clinics and over 20 outpatient centres, with 700 employees, including 130 physicians, where more than 110,000 treatments were performed in 2020 in hand and wrist surgery & therapy, cosmetic surgery & dermatology, orthopaedics, ophthalmology and proctology.

The transaction announced today will strengthen the company’s relentless focus on quality care. Nordic Capital’s investment will help Equipe Zorgbedrijven to facilitate the roll-out of its successful concept abroad and to invest further in its organisation and digitalisation to become an even better partner for both patients and staff.

Jak Dekker, CEO and co-founder of Equipe Zorgbedrijven, explains: “With Gimv’s support, Equipe has been able to develop strongly in recent years. Through a number of targeted acquisitions we have taken our model for value-driven, integrated care provision to a higher level and expanded into multiple specialties. We have also invested in our network of clinics, our IT infrastructure and applications and have expanded our research activities. The partnership with Gimv has brought us to the point where we will be taking our first steps abroad. We are grateful to Gimv for this and look forward to working with Nordic Capital in realising our national and international ambitions.”

Elderd Land, Partner in Gimv’s Health & Care platform, on this growth story: “Gimv is proud to have been able to support Equipe Zorgbedrijven in its growth strategy where focus on quality and meaningful care has always been paramount. The company has developed strongly in recent years, growing both in size and quality. The result is a well-established player with a strong position in the Netherlands and now also great opportunities abroad. We thank the management of Equipe Zorgbedrijven for the successful and excellent cooperation and wish them – together with Nordic Capital – all the best in their further growth trajectory.”

The transaction is subject to customary conditions, including the approval of the healthcare and competition authorities. This transaction has a positive impact of about 1 euro per share on the net asset value of Gimv as of 31 March 2021. No further financial details will be disclosed.

Read the full press release:

English – French – Dutch
Gimv
Karel Oomsstraat 37, 2018 Antwerpen, Belgium
www.gimv.com

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EQT Private Equity to sell Igenomix to Vitrolife for an enterprise value of EUR 1.25 billion

eqt
  • Igenomix is a global leader in molecular genetic diagnostics for reproductive medicine and rare diseases – assisting approximately 90,000 patients per year through a diversified portfolio of in vitro fertilization (IVF) and rare diseases genetic testing services
  • The combination of Igenomix and Vitrolife will create a global leader in reproductive health by combining the knowledge, product portfolios and market presence of two leading companies within IVF medical devices and reproductive genetic testing services
  • As part of the transaction, EQT Private Equity will become a minority shareholder in Vitrolife, a global developer of IVF products listed on Stockholm Nasdaq – and will support in integration of the two businesses and the extraction of synergies
  • During EQT Private Equity’s ownership, Igenomix has experienced strong growth and made significant investments into its product portfolio and R&D capabilities, as well as supported international expansion

EQT is pleased to announce that the EQT VIII fund (“EQT Private Equity”) has agreed to sell Igenomix (or “the Company”) to Vitrolife AB publ (“Vitrolife”), The enterprise value amounts to EUR 1.25 billion and will be funded in a mix of upfront cash and newly issued shares directed to EQT and the partnering minority shareholders. As part of the transaction, Igenomix’s key shareholders will retain a minority shareholder stake in Vitrolife representing 7 percent.

Founded in 2011 as a spin-off from IVI Group, Igenomix is a leading global provider of molecular genetic testing diagnosis for IVF and rare diseases, assisting approximately 90,000 patients per year through a diversified portfolio of testing services. The Company is globally recognized for its R&D expertise, led by Dr. Carlos Simón and under the leadership of CEO, David Jiménez. Igenomix employs approximately 560 people and is headquartered in Valencia, Spain, with additional laboratories in 21 countries.

EQT Private Equity acquired a majority stake in Igenomix in 2019, alongside Charme Capital Partners, Igenomix’s founder, and management. Together with the management team, EQT supported Igenomix in its mission to provide personalized genetic information to improve clinical practices in infertility, women’s health and rare diseases. With science at its core, Igenomix has a patient-oriented approach and works to deliver high-quality genetic testing services at affordable prices.

Under EQT Private Equity’s ownership, Igenomix has strengthened the organization in particular through the improvement of digital go-to-market and sales capabilities. Additionally, the Company has made substantial investments into product portfolio and R&D, launching non-invasive Pre-implantation Genetic Testing (PGT), a Covid-19 test as well as a new business line, Genetic Precision Diagnostics (GDPx) testing for rare diseases. Igenomix has also continued to consolidate its international presence, including expanding to, among others, China, Chile, Peru, Russia, Saudi Arabia and Taiwan and currently serves over 3,000 clinics across 80 countries.

David Jimenez, CEO of Igenomix, commented, “Igenomix has been on a fantastic journey with EQT and Charme Capital Partners as owners. We are excited to embark on a new journey together with Vitrolife which will help us to further improve delivery of our mission to provide personalized genetic information to patients globally and further improve clinical practices in infertility, women’s health and rare diseases”.

Vesa Koskinen, Partner within EQT Private Equity Advisory Team, commented, “We are grateful to have worked alongside Igenomix’ highly entrepreneurial and innovative management team and employees who have created a true world market leader within molecular genetic diagnostics for reproductive medicine. Igenomix and Vitrolife share the same vision of helping IVF patients to achieve their dream of having a healthy baby at home and we look very much forward to support Vitrolife in the creation of a global leader in reproductive health”.

Carlos Santana, Partner and Head of the EQT Private Equity Advisory Team in Spain, added, “This transaction marks the first exit for EQT Private Equity in Spain after having formally entered the country in 2018 with this strategy. Igenomix is a great example of how EQT Private Equity’s value-add approach can support Spanish companies in becoming global market leaders”.

The transaction is subject to customary conditions, including receipt of applicable regulatory approvals and is expected to close in H2 2021. It is the intention that Vesa Koskinen, Partner within EQT Private Equity’s Advisory Team, will join Vitrolife’s board of directors.

J.P. Morgan and Morgan Stanley acted as financial co-advisors to Igenomix, Allen & Overy and White & Case provided legal counsel and Freshfields acted as tax structuring advisor.

Contact
Spanish media inquiries, Grupo Albión, malonso@grupoalbion.net, +34 91 531 23 88
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a purpose-driven global investment organization with more than EUR 67 billion in assets under management across 26 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About Igenomix
Igenomix is a global leader in reproductive genetic testing services with a global network of 26 laboratories serving more than 80 countries and +3,000 clinics. Created in 2011 as a spin-off from the IVI Group, one of the largest IVF clinics in the world, the Company offers a diversified portfolio of IVF and rare diseases genetic testing services. Igenomix is headquartered in Valencia, Spain and as of Dec-20 employed c. 560 people, of which approximately 14% hold a PhD and have contributed to over 492 scientific publications.

More info: www.igenomix.com

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EQT Private Equity to sell Aldevron to Danaher Corporation for enterprise value of USD 9.6 billion

  • Aldevron is a leader in manufacturing high-quality plasmid DNA, mRNA and recombinant proteins
  • Aldevron’s products empower biotech companies to achieve scientific and medical breakthroughs
  • During EQT’s ownership, Aldevron has experienced strong organic growth and made significant investments to position itself for further expansion

EQT is pleased to announce that the EQT VIII fund (“EQT Private Equity”) has agreed to sell Aldevron to Danaher Corporation for an enterprise value of USD 9.6 billion. EQT Private Equity acquired a majority interest in Aldevron in 2019, investing alongside TA Associates, founders, and management.

Founded in 1998 by Michael Chambers and John Ballantyne, Aldevron is a leading global provider of high-quality plasmid DNA, mRNA and recombinant proteins used in vaccines, gene and cell therapy, gene editing and diagnostic applications. Aldevron employs approximately 600 people, and is headquartered in Fargo, North Dakota, with additional operations in Madison, Wisconsin.

Together with the founders and management team, EQT supported Aldevron in its mission to develop and manufacture high quality biologics that help make meaningful changes in people’s lives worldwide. Aldevron’s custom manufacturing capabilities enable scientists and biotech companies to develop and supply new breakthrough genetic medicine, and Aldevron has played an important role in combating COVID-19 by supplying plasmid DNA used to manufacture mRNA vaccines.

Under EQT’s ownership, Aldevron has experienced strong organic growth, expanded its management team and made significant investments to position the business for continued expansion. Aldevron recently completed the construction and validation of a new, state-of-the-art 189,000 sq ft facility on its 14-acre Breakthrough Campus in Fargo, adding significant GMP manufacturing capacity.

Kevin Ballinger, CEO of Aldevron, commented, “Genetic medicine is the future and our field is expanding rapidly. EQT has been a great partner to us and played an important role in supporting our company as we scale. Danaher is an excellent strategic fit and new home for Aldevron, and we look forward to working with them.”

Michael Chambers, Founder and Executive Chairman of Aldevron, commented, “Aldevron helps advance breakthrough science, and is a critical player in the medical community. We are grateful for EQT’s support over the past few years, and I am excited for Aldevron to partner with Danaher as we continue our journey.”

Eric Liu, Partner and Global Co-Head of Healthcare at EQT, commented, “Aldevron is integral to the development and supply of new types of therapies that address previously uncurable medical conditions. We are proud to have supported Aldevron and its mission to deliver the highest quality products that help improve patient lives across the world. It has been a pleasure partnering with Michael, Kevin, and the entire team, and we look forward to following the next phase of Aldevron’s growth.”

The transaction is subject to customary conditions, including receipt of applicable regulatory approvals.

Morgan Stanley & Co. LLC acted as exclusive financial advisor to Aldevron, and Simpson Thacher & Bartlett LLP provided legal counsel.

Contact
US inquiries: Stephanie Greengarten, +1 646 687 6810, stephanie.greengarten@eqtpartners.com
International inquiries: EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a purpose-driven global investment organization with more than EUR 67 billion in assets under management across 26 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About Aldevron
Aldevron is a premier manufacturing partner in the global genetic medicine field. Founded in 1998 by Michael Chambers and John Ballantyne, the company provides critical nucleic acids and proteins used to make gene and cell therapies, DNA and RNA vaccines, and gene editing technologies. Aldevron’s 600 employees support thousands of scientists who are developing revolutionary treatments for millions of people.

More info: www.aldevron.com

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Icario expands consumer engagement and health action platform with acquisition of ChipRewards

CVC Capital Partners

Clients can manage full member lifecycle strategies while leveraging Icario Insights and Connect to execute customised engagement initiatives

Icario, the healthcare industry’s largest health action company, today announced it has acquired ChipRewards, a leading SaaS platform used by health plans and employers to configure and manage consumer engagement programs. With this acquisition, Icario adds self-service configurability and management capabilities that empower health plan teams to customise their approaches to engagement across enrollment, targeted health actions, retention, satisfaction and overall experience initiatives.

“We are thrilled to welcome the team that built the ChipRewards platform to Icario,” said Steve Wigginton, CEO of Icario. “They have worked in close collaboration with the leading health plans in the country to build a high level of configurability and a superior consumer experience for their clients, and we look forward to extending the platform with Icario’s Insight, Connect and Personalization Engines.”

“Our business has always been about helping health plans and employers grow and sustain relationships with members, and we can now do that even more effectively under the Icario umbrella,” said Trey Hamer, Co-founder and CTO of ChipRewards, who will assume the role of President, ChipRewards. “We look forward to the dual win of helping Icario customers benefit from our existing capabilities while also opening up the vast benefits of the Icario platform to our current customer base.”

ChipRewards offers a fully configurable, enterprise-wide incentive and engagement platform, including targeted rewards and incentives, that provides a flexible solution for health plans. The platform’s agility enables health plans to dynamically configure an unlimited number of health action engagement programs across highly diverse populations. The SaaS platform includes seamless integration of a variety of rewards and incentives options, portal and app integration. Designed for a simple and efficient end-user implementation experience, the HITRUST compliant technology enables non-technical launch and management by diverse end users across customer support, sales, client services, brokers, and health plan quality and growth leaders.

The acquisition comes as CVC Capital Partners (“CVC”), a leading global private equity firm, has completed its acquisition of a majority interest in Icario through its CVC Growth Partners II fund. That announcement was first revealed in May.

“When we announced our majority investment in Icario, we were excited to support its organic and inorganic growth ambitions based on its business roadmap,” said Aaron Dupuis, Partner at CVC. “This strategic acquisition is aligned with our vision of establishing Icario as the leading platform for driving health plan performance through personalisation at scale.”

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Blackstone, Carlyle and Hellman & Friedman to Invest in Medline

Carlyle

Partnership to Accelerate Medline’s Growth and International Expansion

Northfield, Illinois – June 5, 2021 – Medline Industries, Inc., the nation’s largest privately held manufacturer and distributor of healthcare supplies with 2020 revenue of $17.5 billion, today announced that it has entered into a definitive agreement through which it will receive a majority investment from a partnership comprised of funds managed by Blackstone, Carlyle and Hellman & Friedman. Following the close of the transaction, Medline will remain a privately held, family-led company.

Medline will continue to be led by the Mills family, who will remain the largest single shareholder. The entire senior management team will stay in place. The company plans to use the new resources from the partnership to expand its product offerings, accelerate international expansion and continue to make new infrastructure investments to strengthen its global supply chain.

“Making healthcare run better has been our focus for decades. This investment from some of the world’s most experienced and successful private investment firms will enable us to accelerate that strategy while preserving the family-led culture that is core to our success,” said Charlie Mills, Chief Executive Officer of Medline.

Medline partners with healthcare providers around the world, delivering products and solutions that reduce costs, increase supply chain efficiency, and improve the quality of care. The breadth of the company’s product portfolio and its dedication to customer service, responsiveness, and partnership provide significant value for its customers.

Joe Baratta, Global Head of Private Equity at Blackstone, said: “The Mills family has built an exceptional business, and we are proud to partner with them and Medline’s management to support the company’s continued strong growth. Large corporate partnerships with family-led companies are an area where we have deep experience and we look forward to investing in Medline’s further expansion.”

Steve Wise, Carlyle’s Global Head of Healthcare, said: “We are excited to partner with Medline’s impressive management team to accelerate growth through continued execution, innovation, and investment. With a deep commitment to sustainable value creation, we look forward to leveraging our combined operational capabilities, expansive healthcare network and capital to support organic and inorganic growth initiatives for the Company.”

Allen Thorpe, Partner at Hellman & Friedman said: “Medline is known for its unwavering commitment to its customers, providing high-quality medical products that are used to treat patients every day. We are excited to support that commitment and partner with Medline to continue bringing the broadest and deepest capabilities to the healthcare industry.”

GIC, Singapore’s sovereign wealth fund, is also investing as part of the partnership.

Transaction Details

The investment is expected to be completed in late 2021 and is subject to regulatory approvals and customary closing conditions.

Goldman Sachs & Co. LLC acted as lead financial advisor, BDT & Company, LLC acted as financial advisor and Wachtell, Lipton, Rosen & Katz acted as legal advisor to Medline. BoA Securities, Inc., J.P. Morgan, Barclays, Morgan Stanley, and Centerview Partners are acting as financial advisors to Blackstone, Carlyle, and Hellman & Friedman. Simpson Thacher & Bartlett LLP acted as legal advisor to Blackstone, Carlyle, and Hellman & Friedman.

About Medline Industries

Medline is a healthcare company: a manufacturer, distributor and solutions provider focused on improving the overall operating performance of healthcare. Medline works with both the country’s largest healthcare systems and independent facilities across the continuum of care to provide the clinical and supply chain resources required for long-term financial viability in delivering high quality care. With the size of one of the country’s largest companies and the agility of a family-owned business, Medline is able to invest in its customers for the long-term and rapidly respond with customized solutions. Headquartered in Northfield, Ill. Medline has 28,000+ employees worldwide and does business in more than 110+ countries. Learn more about Medline at www.medline.com.

About Blackstone

Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $649 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.

About Carlyle

Carlyle (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Investment Solutions. With $260 billion of assets under management as of March 31, 2021, Carlyle’s purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 1,800 people in 29 offices across five continents. Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.

About Hellman & Friedman

Hellman & Friedman is a preeminent global private equity firm with a distinctive investment approach focused on large-scale equity investments in high quality, growth businesses. H&F seeks to partner with world-class management teams where its deep sector expertise, long-term orientation and collaborative partnership approach enable companies to flourish. H&F targets outstanding businesses in select sectors including healthcare, software & technology, financial services, consumer & retail, and other business services.  The firm is currently investing its tenth fund, with over $23 billion of committed capital, and has over $70 billion in assets under management as of March 31, 2021. Learn more about H&F’s defining investment philosophy and approach to sustainable outcomes at www.hf.com.

Media Contacts

For Medline Industries, Inc.:
Blair Klein
+1-847-643-3308
BKlein@medline.com

For Blackstone:
Matt Anderson
+1-518-248-7310
Matthew.Anderson@blackstone.com    

For Carlyle:
Brittany Berliner
+1-212-813-4839
Brittany.Berliner@carlyle.com

For Hellman & Friedman:
Dan Abernethy
+1-646-238-3902
Dan.Abernethy@fgh.com

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Adelis new partner to Nordic BioSite Group

Adelis Equity

Life science research distributor Nordic BioSite Group brings in new majority owner Adelis Equity Partners in order to further accelerate its growth and geographic expansion with the goal of becoming an even stronger partner to its suppliers and customers

Nordic BioSite Group (NBG) is a leading European supplier of research and diagnostics products, with a particularly strong position within antibodies and other research reagents. Through the combination of Nordic Biosite AB in the Nordics, Sanbio BV in Benelux and Biomol GmbH in Germany, Tellacq Partners have together with the founders and management team built a solid presence in Northern Europe. Now Adelis is brought in as a partner, to help further accelerate growth and geographical expansion.

Over the last twenty years, NBG has built a solid presence in Northern Europe, connecting researchers with the world’s leading life science products for research use. The Group’s highly skilled employees, many of whom are PhDs within the field, advise thousands of researchers across Europe on which products to use to optimise their research. A growing pan-European presence helps international suppliers cut through the complexity of serving the fragmented and heterogenous European market.

“We see substantial opportunities for expansion and know that Adelis has extensive experience in growing European life science companies,” says CEO Wilco van Hamond. “We see strong potential for creating a pan-European life science research distributor, serving suppliers across Europe”, adds Magnus Lundberg, partner at Tellacq Partners.

“NBG is a leader in each of the regions in which it operates. Life science research will continue to see strong underlying growth in a post-pandemic world – with a wealth of exciting new products continuously being launched. Connecting suppliers to the fragmented European research and diagnostics market enables high quality research output. We are impressed by NBG’s management team and skilled employees and recognise that the company’s services are of great value to its suppliers and customers. We look forward to supporting NBG build a truly pan-European distribution platform”, say Rasmus Molander and Lene Stern from Adelis.

The parties have chosen not to disclose the purchase price.

For further information:

Nordic BioSite: Wilco van Hamond, wilco.vanhamond@nordicbiosite.com, +31 653 94 19 04

Adelis Equity Partners: Rasmus Molander, rasmus.molander@adelisequity.com, +46 70-823 74 33

Adelis Equity Partners: Lene Stern, lene.stern@adelisequity.com, +46 70-281 34 24

Tellacq: Magnus Lundberg, info@tellacqpartners.com

About Nordic BioSite Group

Nordic BioSite has been a leading supplier of products for research and diagnostics for over 20 years. Together with Sanbio (Benelux) and BioMol (Germany) the Group has a highly skilled employee base across Europe who provide products, expertise and support to thousands of researchers. For further information please visit https://www.nordicbiosite.com

 

About Adelis Equity Partners

Adelis is a growth partner for well-positioned, Nordic companies. Adelis partners with management and/or owners to build businesses in growth segments and with strong market positions. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, making 25 platform investments and more than 100 add-on acquisitions. Adelis today manages approximately €1 billion in capital. For more information please visit www.adelisequity.com.

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