Tag Archives: healthcare

Imcheck Therapeutics raises USD 53 million, Gimv increases its investment in the immuno-oncology space

GIMV

04/12/2019 – 06:45 | Portfolio

In a Series B financing round of USD 53 million, Gimv is increasing its investment in French ImCheck Therapeutics (www.imchecktherapeutics.com), an emerging player in the field of cancer and auto-immune immunotherapies. The round was co-led by Pfizer Ventures (NYSE: PFE) and Bpifrance and joined by new investors specialized in life sciences. Gimv and other existing shareholders also participated for a significant portion of this raise.

The proceeds of the Series B will be used to fund the initial clinical trial for ImCheck’s first-in-class monoclonal antibody ICT01, to further expand the company’s broad pipeline of immunomodulators targeting the butyrophilins super-family and to bring additional immuno-oncology antibody programs into the clinic.

Bram Vanparys, Partner in Gimv’s Health & Care platform, about this new phase: “Imcheck has made significant progress since our investment in its Series A. We are very proud to have complemented Imcheck’s existing investors syndicate with a mix of reputable US and EU investors. Gimv’s significant participation in this Series B shows our firm belief in the impact Imcheck’s pipeline can have in the oncology and autoimmune space.”

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Lumeon partners with Medtronic on value-based care

GIlde Healthcare

Utrecht (the Netherlands) and London, (UK) – Lumeon, the leader in Care Pathway Management (CPM), today announced that it has entered a strategic partnership with Medtronic, a global leader in medical technology, services, and solutions, that will support Medtronic’s European healthcare provider customers in their transition to efficient, value-based care models.

Through the partnership, Medtronic’s Integrated Healthcare Solutions (IHS) business will leverage Lumeon’s leading CPM Platform to operationalise care pathways for surgery optimization and chronic disease management. These pathways allow providers to create more effective care coordination that reduces the cost of care delivery while minimising unwarranted variation in care.

Medtronic IHS aims to enhance the efficiency and effectiveness of patient care settings, such as cardiac catheterisation labs and operating rooms, while optimising patient pathways and care delivery from the time a patient is referred for treatment to the time he or she has fully recovered.

“As the global healthcare market undergoes a transition from activity-based reimbursement to outcome-based reimbursement, providers are faced with the challenge of reinventing their business models while delivering care that ensures high-quality clinical, operational, and financial outcomes,” said Robbie Hughes, founder and CEO at Lumeon. “We are proud to be working with Medtronic, a company with a well-earned reputation in value-based care models, to help providers master that transition.”

“We are partnering with over 100 hospitals in Europe to develop evidence-based, best practice-informed pathways that deliver superior outcomes for the lowest possible cost,” said Frederic Noël, vice president, Medtronic IHS EMEA. “To help our customers embed these pathways in daily practice and apply them at scale, across their patient groups, we need more than pathway reference models and change management services. We must provide them with solutions to digitalise the pathway, and automate and orchestrate multi-disciplinary care delivery, leveraging Lumeon’s CPM platform.”

Lumeon’s CPM platform ensures that every patient stays on a personalised plan of care throughout his or her entire healthcare journey. It leverages intelligent automation and orchestration to manage a shared plan of care across multiple teams and settings, automatically adjusting activities and deploying the right resource required for each individual patient in real-time.

 

About Lumeon
Lumeon provides Care Pathway Management (CPM) solutions for healthcare organizations. Its industry-leading platform combines evidence-based pathways with deep operational expertise to deliver better care at lower cost.
A patient-first approach to pathway design, orchestration and automation ensures healthcare provider resources are optimized to deliver superior outcomes at less cost, achieving the goals of new reimbursement models.
Progressive health systems in the USA and Europe have deployed Lumeon’s multi-award winning platform across more than 2,000 care locations. For more information, visit the company’s website at www.lumeon.com

About Gilde Healthcare
Gilde Healthcare is a specialized European healthcare investor managing € 1 billion ($ 1.2 billion) across two fund strategies: venture & growth capital and private equity. Gilde Healthcare’s venture & growth capital fund invests in health tech and therapeutics. The venture & growth companies are based in Europe and North America. Gilde Healthcare’s private equity fund invests in profitable European lower mid-market healthcare companies with a focus on the Benelux and DACH region. The private equity fund targets healthcare providers, suppliers of medical products and service providers in the healthcare market. For more information, visit the company’s website at www.gildehealthcare.com

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IK Investment Partners acquires Ondal Medical Systems

ik-investment-partners

IK Investment Partners (“IK”) is pleased to announce that the IK VIII Fund has reached an agreement to acquire Ondal Holding GmbH (“Ondal” or “the Company”), a leading Original Design Manufacturer (“ODM”) of medical pendant systems used mainly in operating rooms and intensive care units, from funds advised by Capvis.

Founded in 1945, Ondal has become the global #1 provider of medical pendant systems. With its innovative and broad product portfolio applied in settings such as operating rooms, intensive care units as well as diagnostic and imaging rooms, Ondal sets the global quality standard for medical pendant systems in terms of reliability, functionality and usability. Products manufactured by Ondal are internationally certified in various regulated markets, ensuring compliance with the highest quality standards. Headquartered in Hünfeld, Ondal operates three strategically located manufacturing sites in Germany, the US and China, employing over 500 people.

“With our high-quality pendant products, we carry, move and supply medical equipment to create optimal working conditions. This has enabled us to establish longstanding relationships with international blue-chip customers. IK is the ideal partner as they have a profound understanding of medical technology end-markets and share our vision for growth. We would like to thank Capvis for its support during our partnership,” said Bernd Fabian, CEO of Ondal.

“Ondal is the globally leading platform for medical pendant systems and trusted strategic partner to medical technology companies. Together with management, we will continue to build on the Company’s strong market position as technology leader in its product segment,” said Anders Petersson, Partner at IK and advisor to the IK VIII Fund.

Ondal represents the IK VIII Fund’s fourth Mid Cap acquisition this year, and the 15th acquisition announced by the Fund. Financial terms of the transaction are not disclosed.

Parties involved:
IK Investment Partners: Anders Petersson, Adrian Tanski, Daniel-Vito Günther
Buyer financial advisor: Quarton (Konstantin Schönborn, Rolf Holtmann)
Buyer strategic due diligence: Alvarez & Marsal (Georg Hochleitner)
Buyer financial due diligence: Eight Advisory (Michael Wahl)
Buyer legal advisor: Renzenbrink & Partner (Ulf Renzenbrink)
Capvis: Eric Trüeb, Leif-Niklas Fanter
Seller financial advisor: William Blair (Philipp Mohr, Eike Dickmann)
Seller legal advisor: Hengeler Müller (Daniel Wiegand)

For further questions, please contact:

IK Investment Partners 
Anders Petersson, Partner
Phone: +49 40 369 8850

Mikaela Murekian, Director Communications & ESG
Phone: +44 77 87 573 566
mikaela.murekian@ikinvest.com

About Ondal Medical Systems
Ondal is one of the world’s leading developer and manufacturer of medical pendant systems that facilitate movement, support loads and supply medical equipment with light, gas or data. For more information, visit www.ondal.de

About IK Investment Partners
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, and Benelux. Since 1989, IK has raised more than €10 billion of capital and invested in over 130 European companies. IK funds support companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com

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IK Investment Partners to support Mabtech

ik-investment-partners

IK Investment Partners (“IK”) is pleased to announce that the IK Small Cap II Fund has reached an agreement to acquire Mabtech, a leading specialist in immune monitoring. The founders and management team will continue to be invested. Merieux Equity Partners (“MxEP”) will acquire a minority stake alongside the Fund. Financial terms of the transaction are not disclosed.

Founded in Sweden in 1986, Mabtech has gained worldwide recognition for its high quality monoclonal antibodies and technical innovation capabilities and is viewed as a pioneer within the growing detection platform techniques of ELISpot and FluoroSpot. To complement its offering, the Company successfully entered the instruments market by launching its first reader, IRIS, in December 2018. Mabtech’s products are used by researchers and companies worldwide to study immune responses in e.g. cancer, allergy, infectious diseases as well as to monitor vaccine trials.

“Mabtech has become a well-reputable brand worldwide due to their high quality, innovation and excellent customer service, supporting their customers to obtain optimised test results with limited variability. The deal team has followed the company for several years and we understood this was a unique opportunity to acquire a global leader in a niche market and we are delighted to be the founders’ preferred partner for Niklas and his experienced team,” said Erik Ingemarsson, Partner at IK Investment Partners and advisor to the IK Small Cap II Fund.

“We describe Mabtech as a company ‘founded by researchers for researchers’. Our success is built on long-term relationships with our clients and employees, and as we started planning for our next phase of growth, it was clear that we needed a partner who shares our values and vision. We could not be more happy about this exciting new partnership,” said Niklas Ahlborg, CEO of Mabtech.

Benoit Chastaing, Senior Partner at Merieux Equity Partners added: “We are pleased to partner with IK Investment Partners, founders and Mabtech management team, to invest in a reference player in the immunoassays market. This attractive and growing segment has been a core focus for MxEP and we aim at bringing our expertise and industrial network to accompany Mabtech in its development together with IK.”

The investment in Mabtech builds on IK’s strong track record in healthcare, following its successful sale of Ellab, a leading global supplier of thermal validation solutions, to EQT in September 2019, and its acquisition of LAP Laser, a leading German provider of laser positioning systems, in July 2019.

The transaction represents the 8th investment made by the IK Small Cap II Fund, and the team included Erik Ingemarsson, Kristian Carlsson Kemppinen, Henrik Geijer, Viktor Josefsson and Patrik Stockhaus.

Completion of the transaction is expected during December.

For further questions, please contact:

Mabtech
Niklas Ahlborg, CEO
niklas@mabtech.com

IK Investment Partners
Erik Ingemarsson, Partner
Phone: +46 8 678 95 00

Mikaela Murekian, Director Communications & ESG
Phone: +44 77 87 573 566
mikaela.murekian@ikinvest.com

About IK Investment Partners
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, and Benelux. Since 1989, IK has raised more than €10 billion of capital and invested in over 125 European companies. IK funds support companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com

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Cinven and Astorg to acquire LGC

Cinven

A consortium jointly led by Astorg and Cinven today announces that it has signed an agreement to acquire LGC, a global leader in the Life Sciences Tools sector.

LGC provides a comprehensive range of measurement tools, proficiency testing schemes, supply chain assurance standards and specialty genomics reagents underpinned by leading analytical and measurement science capabilities. Its scientific tools and solutions form an essential part of its customers’ quality assurance procedures and enable organisations to develop and commercialise new scientific products and advance research. The company serves customers across a number of end markets, including human healthcare, agri-food and the environment.

Established in 1842, today LGC employs more than 3,200 people, including many internationally-recognised scientific experts in their field. LGC is headquartered in the UK and serves almost 50,000 laboratories worldwide from its global office network spanning 22 countries across five continents.

Astorg and Cinven identified LGC as an attractive investment opportunity given its:

  • Leading positions in the healthcare, food and agriculture markets, underpinned by its long-standing reputation for scientific expertise and high quality products;
  • Strong performance and organic growth aided by investment in people, key capabilities, scientific R&D and infrastructure across the world;
  • Several recent highly complementary acquisitions and significant future development opportunities, given the fragmented nature of its markets and the opportunity to extend its capabilities into complementary areas;
  • High calibre management team, with Cinven and Astorg backing a highly experienced senior management team, led by Tim Robinson, CEO.

Supraj Rajagopalan, Partner at Cinven, said:

“Cinven’s investment in LGC was identified as a result of the Healthcare Sector team’s focus on the life sciences space. LGC is exposed to a wide range of diversified and fast growing end markets across the Standards and Genomics sectors and we look forward to working with the highly experienced management team to continue investing in strengthening and broadening LGC’s global footprint and portfolio of leading, high quality products.”

Francois de Mitry, Managing Partner at Astorg, added:

“We have been actively monitoring developments in the Life Sciences Tools market, with a particular focus on LGC, for over five years, and have been very impressed by LGC’s scientific capabilities and the resulting continuous organic growth. LGC represents a strong fit with Astorg’s strategy of investing in differentiated leading global B2B players headquartered in Western Europe and North America. Based on our sector work, we have already identified promising future M&A opportunities to actively work on the M&A-led growth in close cooperation with management.”

Tim Robinson, Chief Executive of LGC, commented:

“We are delighted that Astorg and Cinven have chosen to partner with LGC for the next chapter of our history. Cinven and Astorg have a strong track record of investing in and supporting the growth of global companies in the Life Sciences Tools sector. Together we will continue to invest in serving our customers and supporting the development of our employees. In the past few years, LGC has strengthened its international reach and grown significantly in its chosen markets. Astorg, Cinven and LGC’s senior management are aligned in building on this momentum with a clear strategy for growth, delivering Science for a Safer World.”

Cinven is a leading international private equity firm with a long track record of successfully investing in market-leading, growth-oriented companies serving the pharma and life sciences industry, including its investments in CeramTec, the manufacturer of high performance ceramics for application in the medical and industrial end-markets; and Sebia and Phadia – both in-vitro diagnostics companies. In addition, Cinven is currently invested in Synlab, a leading European clinical diagnostics laboratory group; and Stada, a leading global manufacturer of prescription generics and OTC products.

Astorg is a leading independent private equity firm with over €8 billion of assets under management. Astorg seeks to partner with entrepreneurial management teams to acquire market leading global companies headquartered in Western Europe and North America, working together to create value through the provision of strategic guidance, experienced governance, and adequate capital. Astorg enjoys a distinct entrepreneurial culture, a long-term shareholder perspective, and a lean decision-making body enhancing its reactivity. Though not specialised, Astorg has gathered valuable industry expertise in software, healthcare, business-to-business professional services, and technology-based industrial companies. Astorg has offices in London, Paris, Luxembourg, Frankfurt, and Milan.

Cinven and Astorg have more than 40 years history of investing in and supporting companies to drive value creation and reach their growth potential.

Financial terms of the transaction were not disclosed, with completion of the transaction subject to regulatory approval and other customary clearances.

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KKR Agrees Sale of LGC to Cinven and Astorg

KKR

LONDON–(BUSINESS WIRE)–Nov. 21, 2019– KKR, a leading global investment firm, announces today it has agreed to sell LGC, a global leader in the Life Science Tools sector, to a consortium led by Cinven and Astorg. Financial terms of the transaction were not disclosed.

LGC provides a comprehensive range of measurement tools, proficiency testing schemes, supply chain assurance standards and specialty genomics reagents underpinned by leading analytical and measurement science capabilities. Its scientific tools and solutions form an essential part of its customers’ quality assurance procedures and enable organisations to develop and commercialise new scientific products and advance research. The company serves customers across a number of end markets, including human healthcare, agri-food and the environment. LGC’s revenue has risen to over £448m in 2019, with organic revenue growth accelerating to 10% pa since 2016.

Tim Robinson, CEO, LGC said: “Under KKR’s ownership, LGC has further built on its mission to deliver Science for a Safer World. Our company has extended its capabilities in the areas of chemical reference standards, clinical reference materials and controls, management system standards, oligo therapeutics and next-generation sequencing. We have achieved strong organic growth aided by investment in key sites in the UK, US, Germany and China and supplemented by a range of highly complementary acquisitions. We are delighted that Cinven and Astorg have chosen to partner with LGC for the next chapter of our history. Together we will continue to invest in serving our customers and supporting the development of our employees.”

Edouard Pillot, Member and EMEA Head of Industrials at KKR, said: “LGC is a good example of KKR’s successful approach in building great companies. We identified LGC as a strong and resilient business with significant potential for further growth, and worked alongside management to support them in harnessing this potential. Tim and the LGC team have done an outstanding job over the past 4 years building LGC into a global leader. We wish them every success during their next stage of growth.”

Kugan Sathiyanandarajah, Director in the Healthcare Industry Team and Head of Europe for the Healthcare Strategic Growth Fund, said: “In 2016, we saw significant potential to build a leading global life sciences tools platform across Standards and Genomics. Since then, we are delighted to have deployed the full range of KKR’s global platform and healthcare sector expertise to support the company to grow and enter new markets, particularly in the U.S. and Asia, both organically and inorganically.”

LGC has its headquarters near London, and employs over 3,200 employees across 22 countries.

-Ends-

For more information:

About LGC

LGC is a global leader in the Life Science Tools sector, which serves customers across a number of end markets, including human healthcare, agri-food & the environment. LGC provides a comprehensive range of measurement tools, proficiency testing schemes, supply chain assurance standards and specialty genomics reagents underpinned by leading analytical and measurement science capabilities. Its scientific tools and solutions form an essential part of its customers’ quality assurance procedures and enable organisations to develop and commercialise new scientific products and advance research.

LGC’s 3,200+ employees include internationally-recognised scientists who are experts in their field. Headquartered in London, it operates out of 22 countries worldwide and is extensively accredited to quality standards such as GMP, GLP, ISO 13485, ISO 17034, ISO 17043, ISO/IEC 17025 and ISO 9001.

LGC has been home to the UK Government Chemist for more than 100 years and is the UK National Measurement Laboratory and Designated Institute for chemical and bio measurement. LGC has been privately-owned since 1996 and has diversified through internal investment and acquisition to be an international leader in its chosen markets.

For more information, please visit www.lgcgroup.com

About KKR

KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE:KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

Source: KKR

KKR:
Alastair Elwen
Finsbury
Phone: +44 (0) 20 7251 3801
Email: alastair.elwen@finsbury.com

LGC
Guenaelle Holloway
Phone: + 44 (0) 20 8943 7563
Email: guenaelle.holloway@lgcgroup.com

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Combinostic raises €3.9M round led by Industrifonden and NordicNinja

Industriefonden

November 21, 2019
Combinostic computer screen of brain scan

Today we are excited to announce that we are leading a €3.9M series A funding round in Finnish health tech pioneer Combinostics. Combionstics is a cloud platform for quantitative assessment of brain images and for providing clinical decision support in neurological disorders. It is used by healthcare professionals to accelerate Alzheimer diagnoses and bring forward the start of treatment.

The company joins a family of brilliant science based startups that are improving health outcomes globally by building category-leading products. This investment represents another step for our long-term commitment to health tech innovation and scale the impact of science for the benefit of society.

“Combinostics has built a product platform from cutting-edge research that will enhance neurology departments worldwide. Their platform supports improved diagnostic accuracy and treatment choice by combining all relevant biomarkers with advanced brain image quantification, leading to improved health in neurology patients”, says Patrik Sobocki, Investment Manager at Industrifonden and responsible for the Combinostic investment.

As there are no effective treatments for neurodegenerative diseases like Alzheimer’s, early-stage diagnosis combined with symptomatic treatment and lifestyle intervention can make a drastic difference to quality of life in later years. Combinostic SaaS-solution, cNeuro, is a data driven clinical decision support tool that fits the workflow of radiologists and neurologists or other doctors specialised in memory disorders.

We believe that Combinostics have what it takes to succeed on their mission to ensure that Alzheimer and other memory disorders can be diagnosed in the future, before any symptoms appear. We are very proud to welcome Combinostic to the family.

To read more about Combinostics, please visit https://www.cneuro.com/

 

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Nexstim Plc: Shares subscribed for in the directed share issue have been registered

Capricorn

Helsinki, Finland: 18 November 2019 – Nexstim Plc (NXTMH:HEX, NXTMS:STO) announced on 15 November 2019 that an aggregate of 15,687,350 new shares of Nexstim were subscribed for in the directed share issue. Such new shares have today been registered with the Trade Register.

Pursuant to the registration of the shares issued in the directed share issue with the Trade Register, the number of shares in the company is 61,599,912.

The trading of the new shares registered will begin approximately on 19 November 2019 in Nasdaq First North Growth Market Finland and approximately on 20 November 2019 in Nasdaq First North Growth Market Sweden.

More info on Nexstim‘s website.

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Mesa Labs Acquires Gyros Protein Technologies

LAKEWOOD, Colo., Oct. 31, 2019 (GLOBE NEWSWIRE) —  Mesa Laboratories, Inc. (NASDAQ:MLAB) (we, us, our, “Mesa” or the “Company”), a diversified supplier of quality control instruments and consumables to highly regulated markets today announced the acquisition of Gyros Protein Technologies Holding AB (“GPT”).  GPT is headquartered in Uppsala, Sweden and is a leading provider of Immunoassay and Peptide Synthesis solutions that accelerate the discovery, development and manufacturing of biotherapeutics.  The acquisition deepens our commitment to biopharmaceutical quality control and will be the core of our new platform, Biopharmaceutical Development.  We acquired GPT from AP6 (Sixth Swedish National Pension Fund), Ampersand Capital Partners and various individual shareholders.

The acquisition price for GPT consisted of cash consideration of $180 million, subject to purchase price adjustments.  The acquisition is expected to add between $37 million to $40 million of revenues during the first 12 months (of which approximately 55% is recurring in nature), deliver double digit organic revenues growth over the next several years and excluding the impact of purchase accounting, generate gross profit margin percentages in the mid to high 60’s.   Additionally, excluding the impact of purchase accounting and integration expenses, we expect adjusted operating income as a percentage of revenues to be in the mid-teens for the first 12 months.  Revenues for the remaining five months of FY20 are expected to be $13 million-$15 million.

“GPT brings an innovative approach to protein analytics in biopharmaceutical quality control and process development.  The Gyrolab immunoassay solution is a proven, microfluidic driven platform that increases repeatability and throughput while minimizing sample size and manual handling.  The company also provides a leading peptide synthesis platform delivering the highest quality peptides in particular, for the longer and more complicated sequences that are of vital interest to many applications, including that of therapeutic peptides and neoantigen therapies. We believe that The Mesa Way approach to continuous improvement will help the GPT team to continue to rapidly scale both commercially and operationally” said Gary Owens, President and Chief Executive Officer of Mesa.

Dan Calvo, President of GPT, added “We are proud of the track record we have improving the processes for developing biotherapeutics.  Superior technology backed by deep customer intimacy has been the foundation of our success and we felt the same spirit of innovation at Mesa.  We look forward to working with the Mesa team to expand the applications we deliver and deepening our level of customer support.”

Jefferies LLC acted as the exclusive financial advisor to GPT.

For more detail, reference the Mesa Acquisition of GPT presentation in the Investor Relations section of Mesa’s website at mesalabs.com.

About Mesa Laboratories, Inc.

Mesa is a global technology innovator committed to solving some of the most critical quality control challenges in the pharmaceutical, healthcare, industrial safety, environmental and food and beverage industries.  Mesa offers products and services through five divisions (Sterilization and Disinfection Control, Biopharmaceutical Development, Instruments, Cold Chain Monitoring and Cold Chain Packaging) to help our customers ensure product integrity, increase patient and worker safety, and improve quality of life throughout the world.

Non-GAAP Financial Measure In this release, we refer to non-GAAP financial measure adjusted operating income (“AOI”) which is defined to exclude the non-cash impact of amortization of intangible assets, stock-based compensation expense, and impairment loss on goodwill and long-lived assets. We are unable to provide a reconciliation of forward-looking AOI because components of the calculation are inherently unpredictable and currently unknown.

Forward Looking Statements This press release may contain information that constitutes “forward-looking statements.” Generally, the words “believe,” “estimate,” “intend,” “expect,” “project,” “anticipate,” “will” and similar expressions identify forward-looking statements, which generally are not historical in nature. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to revenues growth and statements expressing general views about future operating results — are forward-looking statements. In addition, forward-looking statements include statements in connection with the ability to successfully integrate the businesses, risks related to disruption of management time from ongoing business operations due to the acquisition of GPT, the risk that any announcements relating to the transaction could have adverse effects on the market price of Mesa Labs’ securities, the risk of any unexpected costs or expenses resulting from the transaction, the risk of any litigation relating to the transaction, the risk that the transaction and its announcement could have an adverse effect on the ability of Mesa Labs and GPT to retain customers and retain and hire key personnel and maintain relationships with their suppliers and customers and on their operating results and businesses generally, the risk that the combined company may not operate as effectively and efficiently as expected, the risk that the combined company may be unable to achieve synergies or other anticipated benefits of the transaction or that it may take longer than expected to achieve those synergies or benefits and other important factors that could cause actual results to differ materially from those projected.   Management believes that these forward-looking statements are reasonable as and when made. However, caution should be taken not to place undue reliance on any such forward-looking statements because such statements speak only as of the date when made. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our historical experience and present expectations or projections. These risks and uncertainties include, but are not limited to, those described in our Annual Report on Form 10-K for the year ended March 31, 2019, and those described from time to time in our subsequent reports filed with the Securities and Exchange Commission.

For more information about the Company, please visit its website at mesalabs.com

CONTACT:
Gary Owens.; President and CEO, or
John Sakys; CFO, both of Mesa Laboratories, Inc.,
+1-303-987-8000

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IK in exclusive discussions with Dentressangle regarding the sale of Marle

ik-investment-partners

IK Investment Partners (“IK”) is pleased to announce that the IK VII Fund (“the Fund”) has entered into exclusive negotiations with Dentressangle regarding the sale of Marle International SAS (“Marle” or “the Company”), a leading European manufacturer of orthopaedic implants. The transaction remains subject to the information and consultation process of the relevant employee representative bodies in accordance with applicable laws and to the approval of the competent antitrust authorities.

Founded in 1964, Marle has grown to become a leading manufacturer of hip and knee implants and instruments for the orthopaedic industry. Covering the full value chain, including prototyping, forging, casting and finishing, Marle acts as a strategic partner to medical technology companies worldwide, producing 1.5 million implants annually. The Company operates six production sites in France and Switzerland and employs c. 750 FTEs.

Rémi Buttiaux, Partner at IK Investment Partners and advisor to the IK VII Fund, says: “Under the leadership of Antonio Gil and IK’s active ownership, Marle has completed a strategic acquisition in Switzerland and has grown substantially in North America and Asia. The Company has also further strengthened its array of capabilities and services in line with its long-term commitment to be the partner of choice for its clients.”

Antonio Gil, President at Marle, says: “I would like to thank IK for their active support over the last three years which has enabled Marle to reinforce its capabilities. We are enthusiastic about Marle’s long-term growth potential and are convinced that Dentressangle is the right partner to accompany us in the next phase of our development.”

Thierry Coloigner, Managing Partner at Dentressangle Mid & Large Cap, says: “We are privileged to partner with Marle. The company has an exciting future ahead of it and we look forward to supporting the management team in realising its long-term ambition for the Company by offering increasingly higher value-added services to its clients and pursuing targeted acquisitions.”

Parties involved on the transaction

Buyside
DENTRESSANGLE: Thierry Coloigner, Olivier Verdet, Charles Wacheux Camille Dussaix
M&A Advisors: Messier Maris (Erik Maris, Driss Mernissi, Laura Scolan), Wil Consulting (Jacques Ittah)
Legal Advisor: Bredin Prat (Olivier Assant, Adrien Simon, Karine Sultan)
Strategic Due Diligence: Bain & Company (Jean-Marc Leroux, David Gautard)
Financial Due Diligence: Eight Advisory (Stéphane Vanbergue, Christophe Puissegur)
Tax Due Diligence: Eight Advisory Avocats (Guillaume Rembry, Baptiste Gachet)
Legal Due Diligence: Simmons & Simmons (Guillaume Denis-Faure, Simonetta Giordano)
Financing: Capza (Laurent Bénard, Guillaume de Jongh, Oriane Mizrahi, Sabine Barral)

Sellside
IK Investment Partners: Rémi Buttiaux, Dan Soudry, Vincent Elriz, Guillaume Veber
Carlyle Europe Technology Partners: Vladimir Lasocki, Charles Villet
M&A Advisor: Natixis Partners (Francois Rivalland, Julien Plantive)
Legal Advisors: DLA Piper (Xavier Norlain, Aymeric Robine), Willkie Farr Gallagher (Eduardo Fernandez)
Strategic Due Diligence: BCG (Benjamin Entraygues, Florian Kahn, Chloé Caparros)

For further questions, please contact:

IK Investment Partners
Rémi Buttiaux, Partner
Phone: +33 1 44 43 06 60

Mikaela Murekian, Director Communications & ESG
Phone: +44 77 87 573 566
mikaela.murekian@ikinvest.com

Marle and DENTRESSANGLE
DGM
Thomas Roborel de Climens: thomasdeclimens@dgm-conseil.fr

About IK Investment Partners
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, and Benelux. Since 1989, IK has raised close to €10 billion of capital and invested in over 125 European companies. IK funds support companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com

About Marle
Marle has a 40-year track record serving the orthopaedic implant industry and specialises in the precision forging, machining and finishing of hip, knee, shoulder, spine and extremities implants as well as instruments. It has acquired and developed a wide span of technologies dedicated to the medical industry and now offers one of the most comprehensive ranges of manufacturing services in the orthopaedics market. For more information, visit www.marle.fr

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