1-9-2016

 

Patricia Industries, a part of Investor AB, has signed an agreement with Audax Private Equity to acquire the Canadian medical technology company LABORIE, which focuses on the diagnosis and treatment of urologic and gastrointestinal disorders that affect the daily lives of millions. LABORIE was founded in 1967 and has grown organically and through acquisitions from a leading manufacturer of capital equipment for urodynamic testing into a fully-integrated medical device company with a market-leading position in urology and a rapidly growing gastroenterology business. LABORIE has an attractive, asset-light business model with a high share of its revenue derived from recurring sales of proprietary consumables. LABORIE’s global manufacturing, development and commercialization capabilities create a solid platform for growth through organic and non-organic expansion in core and adjacent markets, new geographies and further expansion beyond diagnostics into therapeutic products. LABORIE will continue to be run by its current management team, which will remain part-owners of the company.

LABORIE will be the most recent addition to the Patricia Industries portfolio of high-quality growth companies, whose other healthcare holdings include Mölnlycke Health Care, Permobil, Aleris and BraunAbility.

Boston, MA, August 9, 2016 – Press Ganey (NYSE: PGND), a healthcare performance improvement company, announced that it has entered into a definitive agreement to be acquired by EQT Equity fund EQT VII (“EQT”), part of the global private equity group EQT. Under the terms of the agreement, EQT will acquire all of Press Ganey’s common stock. Shareholders of record will receive $40.50 in cash per share of Press Ganey common stock, resulting in an enterprise value of approximately $2.35 billion. The offer price represents a 20% premium to the year to date volume-weighted average price and a 62% premium to the initial public offering price for the common stock. The acquisition of Press Ganey represents EQT’s first direct EQT Equity investment in North America.

Sunrise Medical announced today the acquisition of Handicare’s Mobility division‎, headquartered in Helmond, the Netherlands. This follows the acquisition of Sunrise Medical by Nordic Capital that was announced in June 2015.

The Handicare product lines that form part of this acquisition are limited to mobility products such as wheelchairs, scooters and rollators. All other Handicare product lines such as Accessibility, Patient Handling, car adaptations etc. are not part of this transaction.

Handicare’s Mobility business with divisions in Norway, Sweden, Denmark, Holland, Belgium, Germany, France and Canada, will expand Sunrise`s geographic and product reach. Sunrise Medical’s annual sales post transaction will well exceed €400m, cementing their leadership position as the single biggest Premium Mobility Company globally.

Thomas Rossnagel, President and CEO of Sunrise Medical, is excited by the opportunity that this acquisition presents, “Sunrise Medical has seen very strong growth over the past ‎five years, organically and by way of strategically important and successful acquisitions. To now acquire Handicare’s Mobility business makes perfect commercial sense. This business is highly complementary to Sunrise Medical’s, geographically as well as from a product perspective”.

Johan Ek, Handicare’s Chairman and acting CEO, added: “Sunrise Medical is the perfect home for continued successful development of our mobility business. Handicare Group will now have the opportunity to further focus on investing and growing our remaining business segments.”

Sunrise Medical’s intention is to integrate Handicare’s Mobility business over the course of the next 12-18 months. To facilitate a smooth transition, a brand license agreement has been signed allowing Sunrise Medical to continue to use the Handicare brand/logos for their mobility product lines for an agreed period of time. All other product related brands, name rights and all Intellectual Property rights relating to Handicare Mobility`s products will transfer to Sunrise Medical upon closing of the deal which is expected to take place by the end of September 2015.

6/28/2016

Nordic Capital Fund VIII (“Nordic Capital”) has reached a definitive agreement to become the new controlling shareholder of the US-based company eResearchTechnology, Inc. (“ERT” or the “Company”), a leading provider of high-quality patient safety and efficacy endpoint data collection solutions for use in clinical drug development. The investment in ERT further confirms Nordic Capital’s position as a leader in private healthcare investments. Supported by its new owner, ERT will be well positioned to continue its development as a global market leader within innovative and differentiated patient data collection solutions.

ERT is a trusted partner to many pharmaceutical companies who rely on ERT’s high-end services to ensure quality and expedience of clinical trials en route to new efficient drugs, as ERT simplifies and digitalises complex clinical trial experience and procedures. The Company has deep scientific, therapeutic and regulatory experience from over 8,500 clinical studies involving more than 2.7 million patients in 119 countries and has supported over 50% of all new FDA drug approvals in the past three years. ERT is headquartered in Philadelphia, USA and has over 1,200 employees and revenues in excess of USD 300 million.

ERT delivers a unique combination of technology, services and clinical consulting, built on a foundation of deep scientific and regulatory expertise. ERT’s solutions increase the accuracy and reliability of patient data and improve widely deployed solutions in healthcare areas such as Cardiac Safety, Respiratory Solutions and electronic Clinical Outcome Assessments (eCOA). ERT has a proven track record of growth and it is Nordic Capital’s ambition as its new owner to support ERT’s continued development, strategic goals, future growth and further international expansion.

“Nordic Capital sees ERT as a very attractive investment opportunity in the eClinical market. It has deep insights into the clinical development process, an attractive technical platform and an outstanding competitive position. ERT is highly valued by the pharmaceutical industry as a business partner, as evidenced by its market leadership in eCOA, Cardiac Safety and Respiratory Solutions. ERT has an excellent performance track record and is well positioned for accelerated growth. Nordic Capital’s ambition is to support ERT’s executive management team to further develop the Company by growing in both existing and adjacent market segments,”says Jonas Agnblad, Partner, NC Advisory, advisor to the Nordic Capital Funds.

“This is an exciting next step for us. Nordic Capital has extensive experience in both healthcare and technology investments, and a successful track record in supporting management teams in developing and growing businesses.Together we will extend our leadership in eClinical solutions, and innovate better health through investments across our portfolio of capabilities to meet our customers’ evolving needs. We will further invest in attracting and retaining the industry’s best people, partnering for success in the dynamic regulatory environment, and enabling our customers to deliver safe and effective trials,” says Jim Corrigan, president and chief executive of ERT.

“We are impressed by the investments made in the technical platform as well as management’s overall development of ERT as a trusted healthcare service partner and the leading healthcare technology provider. Their leadership position in the attractive eCOA market, supported by similar strong positions in Cardiac Safety and Respiratory Solutions, provides a robust platform for future growth,” says Dr. Raj Shah, Partner, NC Advisory, advisor to the Nordic Capital Funds.

The parties have agreed not to disclose the financial terms of the transaction. The investment is subject to customary approvals by the relevant authorities.

Press contacts:

Nordic Capital
Katarina Janerud, Communications Manager
NC Advisory AB, advisor to the Nordic Capital Funds
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com

ERT
David Coman, Chief Strategy and Marketing Officer
Tel: +1 919 749 6124
e-mail: david.coman@ert.com

About ERT

ERT is a leading provider of high-quality patient data collection solutions for use in clinical drug development. ERT delivers a combination of technology, services and clinical consulting that increase the accuracy and reliability of patient data and improve the widely deployed solutions in centralized Cardiac Safety, Respiratory, and electronic Clinical Outcome Assessments (eCOA) – which includes patient-, clinician-, observer- and performance-reported outcomes – and cloud-based analytics and performance metrics. By efficiently integrating these solutions through a system built upon a scientific and regulatory foundation, ERT collects, analyzes and delivers safety and efficacy data critical to the approval, labeling and reimbursement of pharmaceutical products. For more information see www.ert.com

About Nordic Capital

Nordic Capital private equity funds have invested in mid-market companies primarily in the Nordic region since 1989. Through committed ownership and by targeting strategic development and operational improvements, Nordic Capital enables value creation in its investments. Nordic Capital Funds invest in companies in northern Europe and in selected investment opportunities internationally. The most recent fund is Nordic Capital Fund VIII with EUR 3.5 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Funds are based in Jersey, Channel Islands, and are advised by the NC Advisory companies in Sweden, Denmark, Finland, Norway, Germany and the UK. For further information about Nordic Capital please see www.nordiccapital.com