Metalmark Capital Announces Sale of Collagen Matrix

New York, NY– Metalmark Capital (“Metalmark”), a leading private equity firm, announced that it has sold Collagen Matrix, Inc., (“Collagen Matrix”or the “Company”),a global developer and manufacturer of collagen and mineral-based medical devices. Financial terms of the transaction were not disclosed.

Founded in 1997and headquartered in New Jersey, Collagen Matrix is a leading developer and manufacturer of collagen and mineral-based products for tissue repair and regeneration. Leveraging strong product development and internal R&D capabilities, including two state-of-the-art manufacturing facilities, the Company has developed a propriety portfolio of collagen and non-collagen tissue engineering technologies that support the body’s natural ability to heal. Collagen Matrix’s products are suitable across a range of applications, including the growing device sectors of Dental, Neurosurgery, Orthopedics, Spine and Sports Medicine.

“We are proud to have partnered with the strong Collagen Matrix team during a time of considerable success for the Company,” said Howard Hoff en,Chairman and Chief Executive Officer of Metalmark. “Through numerous strategic investments since Metalmark’s investment in late 2014, Collagen Matrix has significantly strengthened its position in the marketplace. We are pleased to have supported Collagen Matrix’s sustained growth and wish the Company continued success as a trusted partner to medical device companies worldwide.

”“I’d like to thank the entire Metalmark team for their incredible collaboration,” said Bart Doedens, CEO of Collagen Matrix.“Under Metalmark’s stewardship, we have scaled our platform by expanding our product suite with innovative solutions spanning multiple clinical focus areas.Collagen Matrix is well positioned to further its proven track record as an innovation leader, delivering high-quality collagen and mineral based products for the diverse needs of our customers.”

Financial and Legal Advisors Robert W. Baird & Co.and Piper Jaffray & Co.acted as financial advisors and Ropes & Gray LLP acted as legal advisor to Collagen Matrix on the transaction.

About Metalmark Capital

Metalmark Capital is a leading private equity firm that seeks to build long-term value through active and collaborative partnerships with business owners, founders, and executives. The firm focuses its investment activity in healthcare, industrials and agribusiness. Metalmark Capital manages funds with $3.7 billion in aggregate capital commitments.

For more information: http://www.metalmarkcapital.com

About Collagen Matrix

Collagen Matrix, Inc., founded in 1997, delivers a full line of the highest-quality collagen and mineral based medical devices that support the body’s natural ability to regenerate. The Company currently manufactures finished medical devices in the areas of Dental, Spine, Orthopedic, Dural Repair and Nerve Repair Surgery. The evolution of the Company’s leadership, proprietary technologies, manufacturing expertise and product portfolio has established a solid foundation for continued growth. Opportunities continue to exist for collaboration through Product Distribution, Product Development and Contract Manufacturing.

More information about Collagen Matrix can be found at www.Collagen Matrix.com.

Media Contacts:

Sard Verbinnen & Co.

Warren Rizzi

Phone: +1 (212) 687-8080

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EQT Credit completes unitranche financing for Alanta Health Group

eqt

EQT Credit, through its Direct Lending investment strategy, is pleased to announce its support for Alanta Health Group (“Alanta” or the “Company”) with EUR 331 million of committed senior facilities. Proceeds were used to refinance the Company’s existing debt as well as provide committed acquisition facilities to support its future growth

Owned by IK Investment Partners since 2016, Alanta is one of the largest certified compounders for patient-individualized infusions, which are applied mainly in oncology treatment in Germany.

Ralph Betz, Managing Director at EQT Partners and Investment Advisor to EQT Credit, commented: “Alanta is the leading German player in compounding and distribution of infusions for oncology treatments. We were particularly attracted by the Company’s high-quality offering and the management team’s impressive track record in developing a vertically-integrated business model. We would like to thank EQT’s Industrial Advisors, who added their knowledge of the pharmaceutical industry to provide key support and insight throughout the due diligence process. This transaction consolidates the long-standing relationship between IK Investment Partners and EQT Credit”

Paul Johnson, Partner at EQT Partners and Investment Advisor to EQT Credit, added: “Alanta’s market-leading position provides it with a strong opportunity to further consolidate the industry. We look forward to supporting Alanta and its management team in their continued growth and expansion.”

Contact
Paul Johnson, Partner at EQT Partners, Investment Advisor to EQT Credit
Ralph Betz, Managing Director at EQT Partners, Investment Advisor to EQT Credit
EQT Press Office, +46 8 506 55 334, press@eqtpartners.com

About EQT
EQT is a leading investment firm with more than EUR 61 billion in raised capital across 29 funds and around EUR 40 billion in assets under management. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 21 billion and approximately 127,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

About EQT Credit
EQT Credit invests through three complementary strategies: Senior Debt, Direct Lending, and Special Situations. Since inception, EQT Credit has raised over EUR 7 billion of capital and invested in over 160 companies. EQT Credit’s Direct Lending strategy seeks to provide flexible, long-term debt solutions to support European businesses, across a wide range of sectors. These businesses include privately-owned companies seeking growth capital as well as those that are the subject of private equity-led acquisitions or refinancings

For more information: www.eqtpartners.com/business-segments/Credit

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EQT to acquire majority interest in Aldevron – the leading global supplier of plasmid DNA used in cell and gene therapies

eqt

  • EQT to partner with founder and CEO Michael Chambers, as well as TA Associates, to support Aldevron on its future growth journey
  • EQT will support Aldevron through investments in additional production capacity, R&D, and growth initiatives and by leveraging EQT’s strong healthcare expertise, global presence, and network of Industrial Advisors

The EQT VIII Fund (“EQT” or “EQT VIII”) today announced that it has entered into an agreement to acquire a majority interest in Aldevron (the “Company”). Following the close of the transaction, EQT VIII will own a majority interest in the Company. Founders, management and TA Associates will retain a minority stake.

Founded in 1998 by Michael Chambers and John Ballantyne, Aldevron is the leading global supplier of GMP, GMP-SourceTM and Research Grade plasmid DNA used in commercial, clinical and research stage gene therapies, as well as proteins, antibodies and mRNA. The Company’s custom development and manufacturing capabilities enable scientists worldwide to develop groundbreaking new therapies with a focus on quality, speed and innovation. Aldevron is based in Fargo, North Dakota and has additional operations in Madison, Wisconsin and Freiburg, Germany. The Company employs approximately 400 people worldwide and serves more than 4,800 clients, including leading academic and research institutions, pharmaceutical and biotechnology companies.

EQT will help advance Aldevron’s R&D and innovation efforts as the Company continues to

support the rapidly growing field of genetic medicine by providing a critical input for the development of new life-saving therapies. EQT will also support Aldevron with investments in additional production capacity at its Fargo campus, furthering the Company’s position as a key employer in North Dakota.

Michael Chambers, Co-Founder and CEO of Aldevron, commented: “We’re very proud of what Aldevron has accomplished over the past two decades. We remain committed to our clients and their work, and to our mission – to develop and manufacture biologics at the highest quality that help make meaningful changes, worldwide. EQT shares our strong values and commitment to excellence and we believe their significant healthcare experience, global presence and industrial network make them an ideal partner as we continue our growth journey.”

Eric Liu, Partner at EQT Partners and Investment Advisor to EQT VIII, said: “EQT has followed the life science tools and gene therapy market closely for many years, and we believe Aldevron is uniquely positioned as a critical supplier to this rapidly growing market. The Company helps its clients deliver leading edge therapies that address previously uncurable medical conditions and improve patient lives around the world. Aldevron has unparalleled scientific-know how, scale and process expertise, enabling the Company to deliver the highest quality products. We are excited to partner with Michael and his team to further develop Aldevron and invest in the Fargo community in these exciting times.”

Marc Wolff, CFO of Aldevron, said: “EQT is among the top 10 private equity investors in the world. They bring considerable financial strength and international reach to Aldevron. With EQT’s strategic approach, TA Associates’ experience with us, and their collective ability to provide informed, industry guidance, we will be in an excellent position for continued growth, which will further bolster our commitment to our clients, their work and the patients they serve.”

Ethan Liebermann, Director at TA Associates, said: “We have been pleased with our partnership with Michael and the Aldevron team and are looking forward to continuing this journey with our new partners at EQT.”

Mark Carter, Managing Director at TA Associates, added: “EQT is one of the most respected firms in private equity and we are eager to embark on a new chapter together at Aldevron.”

Morten Hummelmose, Chairman of EQT Partners Inc. and Head of EQT Equity US, said: “This transaction represents another important milestone for EQT in the US. EQT VIII has now invested in US businesses within each of our three core sectors, Healthcare, TMT and Business Services, and we are excited to continue EQT’s successful track record of developing companies across these industries.”

The transaction is expected to close by year-end, subject to regulatory conditions and approvals.

Morgan Stanley & Co. LLC acted as financial advisor to EQT, and Simpson Thacher & Bartlett LLP provided legal counsel. Goldman Sachs acted as financial advisor to TA Associates, and Kirkland & Ellis LLP provided legal counsel.

Contact
Eric Liu, Partner at EQT Partners and Investment Advisor to EQT VIII, +1 917 281 0850
US inquiries: Stephanie Greengarten, +1 646 687 6810, stephanie.greengarten@eqtpartners.com
International inquiries: EQT Press Office, +46 8 506 55 334, press@eqtpartners.com

About EQT
EQT is a leading investment firm with more than EUR 61 billion in raised capital across 29 funds and around EUR 40 billion in assets under management. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 21 billion and approximately 127,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership. More info: www.eqtpartners.com

About TA Associates
TA Associates is one of the most experienced global growth private equity firms. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $32.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $2 billion per year. The firm’s more than 85 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com.

About Aldevron
Aldevron serves the biotechnology industry with custom production of nucleic acids, proteins, and antibodies. Thousands of clients use Aldevron-produced plasmids, RNA and gene editing enzymes for projects ranging from discovery research to clinical trials to commercial applications. These products are critical raw materials and key components in commercially available drugs and medical devices. Aldevron is known for inventing the GMP-SourceTM quality system, and for specializing in GMP manufacturing, operating the world’s largest facility at its company headquarters in Fargo, North Dakota. Aldevron has additional facilities in Madison, Wisconsin, and Freiburg, Germany.More info: www.aldevron.com

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Ardian signs an agreement with 3i Infrastructure for the sale of its stake in Ionisos

Ardian

Paris, July 26th 2019 – Ardian, the independent private investment company, announces that it has signed an agreement to sell its stake in Ionisos, a leading international provider of cold sterilisation services to the medical, pharmaceutical and cosmetics industries with 3i Infrastructure PLC (“3i Infrastructure”).
Established in 1993 in Civrieux, France, Ionisos is the third largest cold sterilization provider globally and operates a network of 11 plants in Europe with market leading positions on the French and Spanish markets. It has over 200 employees and a highly diversified and loyal client base of more than 1,000 clients. Ionisos delivers a mission-critical service for the medical and pharmaceutical industries.
The need for pharmaceutical products and medical instruments and the associated sterilization services is driven by attractive market fundamentals and non-cyclical market drivers, including an ageing population in Western Europe, a growing demand for medical services increasingly requiring disposal medical supplies, as well as strong regulation on sterilization of medical and pharmaceutical products.
Since Ardian Expansion acquired a stake in July 2016, the company’s turnover has almost doubled. Ionisos has experienced strong organic growth and has implemented a dynamic external growth strategy over the past three years, through five acquisitions in five European countries (Germany, Spain, Estonia, France and Italy).François Jerphagnon, Member of the Board of Ardian France and Head of Ardian Expansion, commented: “We are delighted to have supported Ionisos’ management in its growth strategy and its international expansion. In line with its expertise, Ardian Expansion has transformed a top tier French player into a European leader through an active acquisition strategy. We would like to thank the management team and all the employees for the extraordinary work achieved.”Marie Arnaud-Battandier, Managing Director in the Ardian Expansion team, added: “We are very happy to have participated in Ionisos’ development. We have contributed to strengthening the management team and the group’s international expansion. We are confident that the company now has everything to succeed in its new development phase.“

Christoph Herkens, chairman of Ionisos, concluded: “We are delighted to have partnered with Ardian over the past few years. Without this active support, the development we have seen would not have been possible at this speed and with this coherence. We would like to thank Ardian for the trust they have placed in the management, the great openness during this partnership. The Ionisos teams are well prepared and highly motivated to enter a new phase of growth with 3i Infrastructure and we look forward to this future partnership.”

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.

ABOUT IONISOS

Ionisos is a French company founded in 1993, which manages eleven plants in France, Spain, Germany, Estonia and now Italy. Ionisos is a specialist in cold sterilization using ionization and ethylene oxide for the medical sector, pharmaceutical products, cosmetics and food packaging. The company is also active in the cross-linking of various products used in industry, particularly the construction industry.

ARDIAN

Ardian Expansion: François Jerphagnon, Marie Arnaud-Battandier, Maxime Séquier, Thomas Grétéré
M&A Advisors: Natixis Partners (François Rivalland, Joseph El Khoury)
Legal advisors: Weil Gotshal & Manges (Frédéric Cazals, Alexandra Stoicescu)

IONISOS GROUP

Christoph Herkens, Aurélien Guilloux
Legal advisors: Delaby & Dorison (Emmanuel Delaby)

PRESS CONTACTS

ARDIAN
Headland
Viktor Tsvetanov

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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.

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.

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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.”