Tag Archives: healthcare

The Carlyle Group Invests in One Medical, the Largest Independently Held, Technology-Enabled Primary Care Practice in the U.S.

Carlyle

Carlyle’s Global Platform and Deep Industry Expertise To Help Grow and Scale the Business

New York, NY – Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announced that it is making a significant minority investment of up to $350 million into 1Life Healthcare, the technology and management company behind One Medical, to support the company’s growth. One Medical is the largest independently held primary care practice in the U.S. The company is working to transform health care by making high-quality primary care personal, accessible and affordable.

One Medical CEO Amir Dan Rubin said, “Partnering with Carlyle, given their extensive network and significant resources, will fuel our next stage of growth and innovation. Carlyle has a deep understanding of the health care sector and a track record of helping to build market-leading companies, while maintaining the highest levels of quality and patient support.”

Ram Jagannath, Managing Director on Carlyle’s Healthcare team, said, “We are excited to partner with Amir Dan Rubin and the One Medical team to continue growing and building out the platform. The company has developed an innovative, membership-based model that key stakeholders — including patients, providers, employers and health systems — find highly compelling. One Medical’s combination of best-in-class service and seamlessly integrated technology is delighting patients in an increasingly frustrating primary care environment. We look forward to working with the company to bring the One Medical brand and experience to more patients across the country.”

Founded in 2007, One Medical is reimagining primary care by improving the quality, service and affordability of care through a technology-enabled model. The company provides service in nine metropolitan regions: Boston, Chicago, Los Angeles, New York, Phoenix, San Francisco, Seattle, San Diego and Washington, DC. In addition to its consumer membership model, more than 1,000 companies have added One Medical to their health benefits packages, giving employees unparalleled, integrated access to near-site primary care, 24/7 virtual care and even on-site care that helps them improve population health and decrease overall health care costs. Health systems are now also partnering with One Medical as they acknowledge the value of having high-quality longitudinal, preventative care in their networks.

Bruce Dunlevie, Partner at Benchmark Capital and current 1Life Healthcare board member, said, “We are excited to have Carlyle join the 1Life Healthcare Board and investor group to help advance One Medical’s mission to transform health care. The primary proceeds from Carlyle’s investment will help fund One Medical’s go-forward expansion, while the Carlyle team’s experience building successful health care companies will serve as a valuable asset for the company.”

Equity for the transaction comes from Carlyle Partners VII, an $18.5 billion fund that makes majority and strategic minority investments primarily in the U.S. across five industries. The investment in One Medical is a continuation of Carlyle’s long-term global commitment to health care, in which it has invested more than $11 billion of equity since inception. Carlyle’s significant experience investing in the healthcare space includes MedRisk, Albany Molecular Research, PPD, WellDyneRx, Ortho Clinical Diagnostics, Rede D’Or São Luiz, Healthscope, Qualicorp, MultiPlan, and most recently, Millicent Pharma.

Latham & Watkins LLP served as legal advisor to Carlyle.

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About One Medical

One Medical is the nation’s leading member-based, technology-powered national primary care organization focused on transforming health care. One Medical delivers it unique model of real life care through digital health services and convenient medical offices in 72 locations in nine metropolitan regions, including Boston, Chicago, Los Angeles, New York, Phoenix, San Francisco, Seattle,  Washington, D.C, and San Diego (launching next year).

In addition to its direct-to-consumer membership model, One Medical works with more than 1,000 companies who have added One Medical to their health benefits packages, giving their employees unparalleled, integrated access to near-site primary care, 24/7 virtual care, and even on-site care that helps them improve population health and decrease health care costs. One Medical is affiliated with 1Life Healthcare, Inc., a healthcare technology and management services company.

About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $210 billion of assets under management across 335 investment vehicles as of June 30, 2018. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,625 people in 31 offices across six continents.

Web: www.carlyle.com
Videos: www.youtube.com/onecarlyle
Tweets: www.twitter.com/onecarlyle
Podcasts: www.carlyle.com/about-carlyle/market-commentary

Contact:
Chris Ullman
+1 (202) 729-5450
Chris.ullman@carlyle.com

 

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Main Capital acquires healthcare communication SaaS specialist Enovation

Main Capital

Main Capital acquires Enovation, a Dutch market leading player in delivering mission-critical software solutions for secure communication in the healthcare and logistics markets. Selling shareholder, VANAD Group, provider of technology solutions and services related to customer experience will remain involved with Enovation post-acquisition via a minority stake. Enovation is based in Capelle aan den IJssel and delivers leading and innovative SaaS solutions for the Dutch healthcare and logistics markets. Well-known products include the ZorgMail, xdsConnect and myhealthConnect platforms and the healthcare interoperability solution Cloverleaf. Enovation’s products and related services support clients with the secure exchange of patient data within and between healthcare institutions as well as between healthcare professionals and patients. This enables healthcare professionals to deliver high-quality care, leveraging accurate and real-time information.

Enovation was founded in 1983 and has been part of the VANAD Group since 2013. Following its foundation, the company positioned itself as the most specialized software vendor and innovator in the secure healthcare communication domain. Enovation employs approximately 135 employees and generates tens of million euro’s in revenues. Over the years, the company strengthened its product portfolio with new innovative products, acquisitions of strategically interesting products and  complementary partner products. These developments allow Enovation to deliver a one-stop-shop solution enabling clients to securely exchange patient data by leveraging efficient IT integrations. The company is active in practically all healthcare segments and serves almost all Dutch hospitals, ambulance services, general practitioners, pharmacies, dentists, paramedical care providers and municipalities.

The healthcare market is characterized by complex IT systems in which individual participants use different communication standards. This hinders secure and efficient patient data exchange between IT systems of different healthcare institutions and between healthcare practitioners. The recently implemented European privacy regulation accelerates the need for healthcare institutions to implement secure communication solutions. Moreover, cost pressure on healthcare spending have led to an increased focus on efficient cooperation between parties in the healthcare value chain. The products of Enovation enable healthcare institutions and other stakeholders in the healthcare sector to exchange information in a safe and efficient manner, irrespective of the existing IT systems and with maximum protection against data leaks.

Going forward, Enovation will further capitalize on the trend towards Connected Healthcare. The company developed the myhealthConnect product, a hardware-agnostic software platform enabling care providers to monitor patients on distance. One of the benefits associated with myhealthConnect is that healthcare institutions have maximal flexibility in selecting monitoring devices and IT applications from various vendors. This prevents a lock-in while the software allows to securely connect these devices and applications with an organization’s own IT infrastructure. This secure efficiency gain enables high-quality remote care, reducing general practitioner visits and helping patients to live at home longer.

Enovation’s ambition is to grow towards a leading SaaS player in the northwest European healthcare market. The company will focus on realizing further organic growth and on the further development of innovative products. In addition to organic growth, Enovation will strengthen its product proposition and international market position by following a selective buy-and-build strategy.

The VANAD Group was advised by ING Corporate Finance and NautaDutilh.

 

Cooperation Enovation – Main Capital

Arthur Nederlof (CEO VANAD Group): “Over the past 35 years, Enovation has grown to a company associated with a high level of quality, an excellent culture, an exceptional client base, an outstanding (cloud) product portfolio, an increased level of own IP developed innovative software products, ample international growth potential and above all, a passionate team. We believe that Main Capital is the right partner to support Enovation to grow towards the next level. Going forward, the VANAD Group will focus on its Customer Experience propositions, the core activity that the VANAD Group is well-known for. The future looks promising for both Enovation and the VANAD Group”.

Charly Zwemstra (Managing Partner Main Capital): “Enovation offers innovative, mission-critical healthcare solutions facilitating internal- and external information exchange for healthcare institutions. With these solutions, the company facilitates the rising demand for healthcare cooperation. We see ample potential to organically grow within the current focus markets, in which the myhealthConnect and xdsConnect products particularly will play an important role. Additionally, we see ample opportunities for a buy-and-build strategy enabling Enovation to further grow in adjacent product- and market segments in the Netherlands and abroad. We would like to thank the VANAD Group for their trust in Main Capital and look forward to the cooperation with Enovation’s management team, led by Jeroen van Rijswijk and Marcel van der Velden.”

 Enovation

About Enovation

For over 35 years, Enovation is the specialist for secure healthcare communication solutions. The company focuses on facilitating information exchange between- and within healthcare institutions and between healthcare institutions and patients. The company’s product proposition comprises own developed IP solutions complemented with solutions of partners. The solutions are based on (international) standards and can be seamlessly integrated with existing processes and IT systems of healthcare institutions.

About Main Capital

Main Capital is a strategic investor with an exclusive focus on the software sector in the Benelux, Germany and Scandinavia. Within this sector, we are the most specialized party in management buy-outs and later-stage growth capital. Main Capital has approximately € 400 million under management for investments in mature but growing software companies in the Netherlands and Germany. An experienced team of professionals manages these Private Equity funds from offices in The Hague and Düsseldorf. Main Capital has a strong footprint in the healthcare SaaS market and acquired companies like SDB Ayton, Verklizan, RVC Medical IT and The Patient Safety Company before.

The current investment portfolio of Main Capital consists of growing (SaaS) software companies such as GOconnectIT, JobRouter (Germany), Inergy, MUIS Software, artegic (Germany), OBI4wan, Axxerion, b+m Informatik (Germany), Ymor, Roxit, Onguard, Sharewire, SecondFloor, Sofon and ChainPoint. Main Capital also has an interest in managed hosting provider Denit. Main Capital has a long-term perspective with the intention to build larger strong software groups. Main Capital has realized many successful exits such as recently Regas, Connexys (to Bullhorn) and ABIT / EuroSystems. Main Mezzanine Capital is another business line of Main Capital Partners and has provided mezzanine loans to, among others, The Valley, TravelBird, Talkwalker, Worldmeetings and BTC.

About VANAD Group

The VANAD Group is an internationally innovative family business. Over 1500 employees from all over the world work daily on innovative services and solutions for our customers. Over the years since 2005, VANAD Group has developed into a specialist in the field of digitization. Our assets are state-of-the-art technical knowledge, creative intelligence and most of all Happy People! We digitize activities where we cannot make a genuine, personal difference. In our approach and solutions we simply focus on being human. Because that is where we have the opportunity for real impact, human impact!

 

Note for the editor:
For more information, please contact:

Charly Zwemstra (Managing Partner)
Main Capital Partners BV, Paleisstraat 6, 2514 JA, Den Haag
Tel: +31 (0) 70 324 3433 / +31 (0) 6 512 77 805
charly@main.nl
www.main.nl

Arthur Nederlof (CEO)
VANAD Group, Rivium Westlaan 1, 2909 LD Capelle aan den IJssel
Tel: +31 (0) 10 288 1600 / +31 (0) 6 204 14 199
arthur@vanadgroup.com
www.vanadgroup.com

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3i-backed Ponroy continues its buy and build strategy with acquisition of Densmore

3I

3i Group plc (“3i”) today announces that Ponroy Santé Group (“Ponroy”), a leading European company in the natural consumer healthcare industry in which 3i invested in January 2017 together with co-investor Cathay Capital, is acquiring Densmore, a natural food supplement laboratory mainly specialising in ophthalmic solutions to treat eye diseases.

Densmore was founded in 1946 and is headquartered in Monaco. Its main brand, Suveal Duo, is a medically-proven supplement designed to fight age-related macular degeneration (“AMD”), a noncurable chronic disease affecting patients’ vision. Densmore has a 17% market share in this category and its products are regarded as being amongst the most innovative in the market. In addition to Suveal Duo, Densmore offers a range of complementary products for conditions such as glaucoma (Memoptic), inflammation and dry eyes. Its products are prescribed to patients directly by ophthalmologists. Densmore has enjoyed 17% p.a. organic sales growth since 2007 and is expected to generate close to €13m of sales in 2018. Its acquisition adds a new product line to Ponroy’s offering in the pharmacy channel and will also enhance Ponroy’s female care offering through other products including gynaecological food supplements. The CEO of Densmore, Philippe Caron, will join Ponroy and continue to lead the business.

This is the second acquisition made by Ponroy with the support of 3i. In September 2017, it acquired Ersa (Aragan and Synactifs brands), a designer and distributor of premium pharmaceutical food supplements, which strengthened its presence in the pharmacy channel and in the probiotic segment. Thanks to these acquisitions, Ponroy is now the third largest player in the French food supplement pharmacy channel, and aims to replicate its successful business model in other major geographies offering significant growth potential.

Philippe Charrier, President and CEO of Ponroy, commented:

“Densmore is an innovative and fast growing company, and a great fit for Ponroy. Its natural products are backed by strong medical studies, reinforcing Ponroy’s own medical credibility. We look forward to working with Philippe Caron and his team.”

Nicolas Brodetsky, Vice President of Ponroy and Group Head of Pharmacy, added:

“Phillippe Caron is an entrepreneur and we share the same values. Beyond the already strong products, Densmore has a rich pipeline of innovation complementary to ours that Ponroy can bring to market not only in France but also through our international network of partners and subsidiaries.”

Rémi Carnimolla, Partner and Managing Director, 3i France, and Guillaume Basquin, Director, 3i France commented:

“This is an important strategic acquisition for Ponroy and fully in line with 3i’s buy-and-build strategy of helping its portfolio companies to expand. Densmore is an R&D-oriented business with an exciting innovation pipeline and has demonstrated strong financial performance over the last 10 years.” 

For further information, contact:
3i Group plc

Silvia Santoro
Investor enquiries		 Tel: +44 20 7975 3258
Email: silvia.santoro@3i.com
Kathryn van der Kroft
Media enquiries		 Tel: +44 20 7975 3021
Email: kathryn.vanderkroft@3i.com

 

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BDC exits Acteon

Bridgepoint

The family investment holding company, DENTRESSANGLE has announced that it is in exclusive discussions with BRIDGEPOINT DEVELOPMENT CAPITAL (BDC), the SMid-Cap business of BRIDGEPOINT, to acquire a majority stake in ACTEON Group, a French medtech company specialized in high-technology dental and medical equipment.

ACTEON designs and manufactures high-technology equipment and consumables for the dental sector as well as medical equipment. ACTEON is globally renowned in the field of dental imaging and is a global leader in intraoral cameras and high-intensity ultrasound (piezosurgery), a non-invasive and non-traumatic surgical technique used notably in implantology.

ACTEON, headquartered in Mérignac, France, employs 850 people across 5 plants in Europe, saw a strong increase in its turnover over the last 3 years, rising from €119 million in 2014 to €162 million in 2017. The group generates 85% of its sales outside France, its main markets are USA, China, Spain, the Middle East and Japan.

DENTRESSANGLE will bring its entrepreneurial culture to ACTEON in order to strengthen its position as an indispensable partner for dental surgeons around the world. DENTRESSANGLE wants to accelerate the development of ACTEON through increased R&D activity, expanding its global reach and implementing an external growth strategy.

Thierry Coloigner, Managing Partner at DENTRESSANGLE Mid & Large Cap said: “ACTEON fits seamlessly into DENTRESSANGLE’s investment strategy: a highly global company, with solid positions in the burgeoning dental care industry, a very strong reputation and a high-growth profile. We’re very pleased to be supporting Marie-Laure Pochon and her teams. Marie-Laure Pochon is a talented leader whose great entrepreneurial energy fits perfectly with the culture and values of the family investment holding company DENTRESSANGLE.”

Marie-Laure Pochon, CEO of ACTEON added: “After the intense work carried out together with the Bridgepoint teams to breathe new life back into the business, over the past few years ACTEON has rediscovered the road to growth. The timing of DENTRESSANGLE’s equity participation in ACTEON coincides perfectly with the growth acceleration phase in which we are entering. We’re pleased to be able to rely on a majority shareholder with such a strong entrepreneurial culture to support our strategy, consolidating the company’s global leadership in the field of dental piezosurgery and imaging, with an ever more innovative and digital range of products for dental practices.”

Olivier Nemsguern, Partner of BRIDGEPOINT DEVELOPMENT CAPITAL in France continued: “Under the guidance of its management team and with the support of Bridgepoint, Acteon has worked intensively to re-energise its business and rationalise its production facilities, and has completed two acquisitions. As a result, the company has developed rapidly, consolidating its leadership role in the field of dental equipment, as well as positioning itself as a global player in dental imagery and significantly growing its international business. We believe that ACTEON is now ideally placed to continue growing and developing internationally.”

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Forbion Portfolio Company Replimune Successfully Completes IPO on NASDAQ

Forbion

Over $100 million raised to progress its pipeline of next-generation oncolytic immunotherapies

Company has progressed from seed financing to IPO in three years

Forbion, a leading European life science venture capital firm, today announces that its portfolio company Replimune Group, Inc. (‘Replimune’) has successful completed an initial public offering (IPO) on NASDAQ, raising over $100 million for the development of its next-generation oncolytic immunotherapies. Replimune’s stock has started trading under the ticker symbol “REPL”.

Forbion has been a longstanding supporter of Replimune’s growth and development having invested seed capital three years ago at the time of the Company’s formation. Forbion identified the potential of Replimune following its investment in BioVex Inc. and knowledge and experience of oncolytic immunotherapy. BioVex was sold to Amgen in 2011 for up to US$1 billion which delivered a significant return for Forbion. Replimune’s co-founder and current Executive Chairman Philip Astley-Sparke was the President and CEO of BioVex Inc. and is now a Venture Partner at Forbion.

Replimune is developing oncolytic immunotherapies intended to improve the direct cancer-killing effects of selective virus replication and the potency of the immune response to the tumor antigens released. The Company’s Immulytic™ technology platform is designed to maximize systemic immune activation, in particular to tumor neoantigens, through robust viral mediated immunogenic tumor cell killing and the delivery of optimal combinations of immune activating proteins to the tumor and draining lymph nodes. The approach is expected to be highly synergistic with immune checkpoint blockade and other approaches to cancer treatment.
Commenting, Sander Slootweg, Managing Partner, said:

“We are proud to have been integrally involved in Replimune’s creation and to have nurtured its growth and development over the last three years. This successful IPO and fundraising only three years after we invested seed capital recognizes the potential of the company, its technology and pipeline and will help progress the development of its next generation oncolytic immunotherapies.”

About Forbion

Forbion is a dedicated life sciences venture capital firm with offices in The Netherlands and Germany. Forbion invests in life sciences companies that are active in the pharmaceutical, as well as the medical device space. Forbion’s investment team has built an impressive performance track record since the late nineties with successful investments in over 50 companies. Forbion manages well over EUR 1 billion across ten funds. Its investors include the EIF, through its European Recovery Programme (ERP), LfA and Dutch Venture Initiative (DVI) facilities and the KFW through the ERP – Venture Capital Fondsfinanzierung facility. Forbion also operates a joint venture with BGV, the manager of seed and early stage funds focused on Benelux and Germany. www.forbion.com

Contacts

Forbion contact:
Sander Slootweg
Managing Partner
P: +31 (0) 35 699 30 00
E: sander.slootweg@forbion.com

Media contact:
Instinctif Partners (on behalf of Forbion)
Ashley Tapp/Ambrose Fullalove
P: +44 (0) 20 7457 2020
E: forbion@instinctif.com

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DIF Infrastructure V acquires 100% of Hospital de Vallecas S.A.

DIF

DIF Infrastructure V acquires 100% of Hospital de Vallecas S.A.

Madrid, 20 July 2018 – DIF Infrastructure V is pleased to announce the acquisition from Pralesa Concesiones and other minority shareholders of a 100% stake in Hospital de Vallecas.

The Hospital de Vallecas project consists of the construction, maintenance and operation of the non-medical services of the Infanta Leonor Hospital under an availability based DBFM scheme granted by the Community of Madrid. The hospital started operations in 2007, with the concession having a remaining life of ca. 17 years, ending in 2035.

Infanta Leonor Hospital is one of the primary hospitals in the Madrid region, with a surface area of ca. 85,000 sqm and over 200 beds, providing services to a population of over 300,000 patients.

DIF was advised by Herbert Smith Freehills (Legal), PwC (Financial), Jacobs (Technical) and Garrigues (Tax).

Fernando Moreno, Partner and Head of Spain, said: “DIF is pleased to invest in Hospital de Vallecas, a well-managed high-quality asset, and to expand its footprint in the hospital sector in Spain after acquiring a majority stake in Hospital de Majadahonda in 2015”

About DIF

DIF is an independent infrastructure fund manager, with €5.6 billion of assets under management across seven closed-end infrastructure funds and several co-investment vehicles. DIF invests in greenfield and brownfield infrastructure assets located primarily in Europe, North America and Australasia through two complementary strategies:

  • DIF Infrastructure V targets equity investments in public-private partnerships (PPP/PFI/P3), concessions, regulated assets and renewable energy projects with long-term contracted or regulated income streams that generate stable and predictable cash flows.
  • DIF Core Infrastructure Fund I targets equity investments in small to mid-sized infrastructure assets in the energy, transportation and telecom sectors with mid-term contracted income streams that generate stable and predictable cash flows.

DIF has over 100 professionals in eight offices, located in Amsterdam, Frankfurt, London, Luxembourg, Madrid, Paris, Sydney and Toronto. Please see www.dif.eu for further information.

For more information please contact:

Barend Bloemarts
Director, Investor Relations and Business Development
Email: b.bloemarts@dif.eu

Fernando Moreno
Partner, Head of Spain
Email: f.moreno@dif.eu

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Genstar Capital to Acquire CRF Health from Vitruvian Partners and Combine with Bracket

Combined organization will bring together complementary strengths with a shared focus on accelerated customer value through patient-centric clinical technology solutions

London, United Kingdom and Wayne, Pennsylvania, USA (July 17, 2018) – Genstar Capital, a leading investor in healthcare technology and services companies, is pleased to announce the acquisition of CRF Health, a global provider of eCOA and eConsent solutions for the life sciences industry. As part of the transaction, CRF will be combined with Bracket, a provider of software and technology-enabled solutions utilized in clinical trials. Bracket is a portfolio company of Genstar.

CRF Health has been majority-owned by Vitruvian Partners, a leading growth-and technology-focused investment firm, since 2015.

The newly combined organization will drive accelerated value for pharmaceutical companies and CRO customers, providing patient-centric solutions, combined with deep and broad therapeutic area expertise, across a strong and efficient global footprint.

“CRF Health earned an outstanding reputation with 20 years of experience providing eCOA and now eConsent solutions to the biopharma industry around the world,” said Mike Nolte, who will lead the combined organization as CEO. “CRF’s technology and therapeutic experience dovetail well with our solutions, and they expand our ability to support increasingly complex clinical research. I am excited to bring two outstanding teams together to provide a reliable and scalable platform that accelerates the development of life changing medicines for our families and communities across the globe.”

The combined company will have over 1,500 employees worldwide, and will be in a position to accelerate the penetration of user-friendly technologies across the clinical trial spectrum – driving the transfer from manual, paper based services to electronic while improving service quality and data integrity.

“This is an exciting step forward for patients, clients, and our new combined team,” said Rachel Wyllie, CEO of CRF Health, who will become the Executive Chairman of the combined company. “The complementary nature of the two businesses provides us with the platform and scale for future growth in our dynamic markets, while ensuring our customers have more access to the latest patient-centric innovations in clinical research.”

Jean-Pierre Conte, Chairman and Managing Director at Genstar Capital, added, “Bringing CRF and Bracket together will create a world-class healthcare technology company supporting clinical trials and will accelerate adoption and growth in eCOA, eConsent, patient engagement, rater training and trial supply management solutions. We look forward to working with the outstanding leaders at both organizations. This notable event in pharmaceutical services is another example of Genstar’s private equity strategy of driving change at our portfolio companies to create high-growth and extremely valuable companies. Healthcare is an important sector for Genstar and we continue to identify great opportunities to apply our growth model to build great companies.”

Philip Russmeyer, Partner at Vitruvian Partners, commented, “We are delighted to support the combination of Bracket and CRF to further accelerate, and build upon, the excellent advances that our partnership with the strong management team at CRF has produced over the past years.”

The transaction is expected to be completed by the end of 2018 and is subject to customary closing and regulatory approvals.

Jefferies International Limited served as exclusive financial adviser and Dickson Minto as legal adviser to CRF.  Ropes & Gray LLP served as legal adviser to Genstar Capital.

About Bracket

Bracket (www.bracketglobal.com) is a technology company that accelerates clinical research and improves the experience of patients accessing potentially life-changing therapies. Our solutions, combined with deep scientific and clinical insight, link engaged patients to researchers, provide faster, more reliable decision making, and help provide longer, healthier and more productive lives for our families and communities around the globe. Bracket has over 800 employees and delivers services in more than 90 countries to a diverse base of global customers, including 15 of the top 20 biopharma companies.

About CRF Health

CRF Health is the leading provider of patient-centered eSource technology solutions for the life sciences industry. With experience in more than 800 clinical trials, over 100 languages and across 74 countries, CRF Health’s TrialMax® platform consistently demonstrates the industry’s highest data accuracy, patient and site compliance, and patient retention. The integrated TrialMax platform includes eCOA solutions for collecting PROs (Patient Reported Outcomes), ObsROs (Observer Reported Outcomes), ClinROs (Clinician or Rater Reported Outcomes), and PerfOs (Performance Outcomes), and features TrialConsent®, an electronic solution for collecting and managing informed consent in clinical trials. CRF Health’s eSource solutions improve trial engagement by making the patient the center of the clinical trial process.

About Genstar Capital

Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for more than 25 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar manages funds with total capital commitments of approximately $10 billion and targets investments focussed on targeted segments of the healthcare, financial services, software, and industrial technology industries.

About Vitruvian Partners

Vitruvian is a European growth-focused investment firm specialised in ‘dynamic situations’, where companies undergo growth and change typically driven by technology. Vitruvian helps portfolio companies scale their operations by providing an operational support system and assistance with strategic initiatives including acquisitions. Other notable investments to date include global market leaders in their field such as Just Eat, FarFetch, Skyscanner, EasyPark, Snow Software, Trustpilot, Voxbone, Callcredit, Ebury and others. The €2.4bn Vitruvian Investment Partnership III (“VIP III”) is among the largest pools of capital in Europe supporting innovative and higher growth companies. Vitruvian has backed 30 companies in its first two funds and has assets under management of c. €5 billion, operating out of offices in London, Munich, Stockholm, Luxembourg and San Francisco. More information can be found at: www.vitruvianpartners.com

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MEDIA INQUIRIES:

Contact: Chris Tofalli
Chris Tofalli Public Relations
914-834-4334

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Fortino Capital is investing in the international expansion of e-health company Dobco Medical Systems

Fortino Capital

Fortino Capital is investing EUR 2.2 million in Dobco Medical Systems, a Belgian software company specialising in online solutions for medical imaging. Fortino Capital will help Dobco Medical Systems’ management with the further development of their platform and their international expansion.

Dobco Medical Systems was founded in 2011 and quickly became the reference for online medical imaging in the Benelux. Their most well-known solution, the PACSonWEB platform, is used in 9 out of 10 Flemish hospitals. PACSonWEB is a secure cloud platform that provides an efficient way to exchange medical images and reports between all involved parties. Dobco is thus able to simplify complex processes within medical imaging and provide doctors and patients with medical information faster, more accurately and in a secure manner.

“Together with Fortino Capital, Dobco Medical Systems can take the next step and further scale up the company. Thanks to Fortino Capital’s knowledge of Software-as-a-Service, as well as their experience in putting companies on the map in an international context “, confirms Jan Dobbenie, CEO at Dobco Medical Systems.

Dobco’s aim is to further expand its platform and service offering both in Belgium and internationally to Norway, Switzerland, the Netherlands, France and Cyprus. With Fortino as its partner, the company is looking to strengthen its sales team so it can meet the increasing international demand.

Matthias Vandepitte, partner at Fortino Capital, explains: “We are impressed with the expertise at Dobco Medical Systems. Their commercial traction confirms the added value for their customers, as well as the potential for further international growth. This explains our enthusiasm to further grow the company together with the Dobco team.”

Dobco Medical Systems has a turnover of approximately EUR 3 million and currently employs 24 people. With this investment, Fortino Capital emphasises its role of providing growth capital to companies that are successful in their domestic market, such as Dobco Medical systems, to further grow on an international level. This venture capital investment is the tenth software investment in Fortino Capital’s portfolio.

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The Carlyle Group agrees to invest in LPG Systems, manufacturer of non-surgical aesthetic and physiotherapy devices

Carlyle

Fresh capital will support international expansion and growth

Valence, France, 16 July 2018 – Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announces that it has agreed to acquire a majority stake in LPG Systems (LPG), the specialist manufacturer of non-surgical aesthetic and physiotherapy devices, to support the company’s continued international expansion and growth trajectory. Equity for the transaction will come from Carlyle Europe Technology Partners III and Carlyle Asia Growth Partners V. The Guitay family will remain shareholders alongside Carlyle. The transaction is subject to customary regulatory approval and is expected to close by end of September this year.

Founded in 1986 by Louis-Paul Guitay, LPG has developed a non-surgical technology that serves the global medical, physiotherapy and aesthetics markets. The company’s technology enables physicians to provide advanced solutions for a broad range of medical, therapeutic and aesthetic applications including body contouring, cellulite and fat reduction, facial rejuvenation, burn treatment, scars reduction, lymphatic drainage and neuro physical training. Physiotherapists, medical clinics as well as Spas and luxury hotels in more than 100 countries currently use LPG devices.

Key to LPG’s success is its unique, patented technology, based on cells stimulation called Endermologie®. It is a treatment that the company has developed in close collaboration with scientists and practitioners, and is widely recognized by more than 140 scientific studies and 80 medical publications. LPG’s product portfolio is designed around the concept of well-being, offering a balance between efficiency and natural, painless treatments.

Nathalie Guitay, Chair of LPG, said: “Carlyle’s investment is testament to the strength of LPG’s product portfolio and our unparalleled technology. For more than 30 years, we have invested in R&D to develop non-surgical devices with wide-ranging applications that are suitable for our customers and patients. With the support of Carlyle, and drawing on its experience in international healthcare and consumer markets, we believe we are well positioned to further grow LPG’s international presence and to broaden our customer base whilst enhancing our product portfolio and the application of our devices.”

Vladimir Lasocki, Managing Director and co-Head of the Carlyle Europe Technology Partners team, said: “LPG is a business with strong brand recognition and an incredible reputation among both medical practitioners and end customers. LPG has successfully expanded the use of its technology across a broad range of physiotherapeutic and medical-aesthetic applications, and today they are well positioned to take advantage of the rising demand for non-surgical, natural treatments.”

Ling Yang, Managing Director of the Carlyle Asia Partners team, added: “We believe there is a great opportunity to further expand LPG’s business in Asia, particularly in China and Japan, through Carlyle’s local presence. We look forward to partnering with LPG’s management team as the company continues to grow and innovate.”

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About LPG Systems

For 30 years, LPG has been developing, manufacturing and marketing patented advanced technologies for the medical, physiotherapy, aesthetic and athletic markets worldwide. Endermologie® is the only 100% natural, non-invasive and non-aggressive technique that exist today. It mechanically stimulates the cells to naturally revive and rejuvenate skin. It allows simultaneous treatment of fat reduction and body contouring.

About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $201 billion of assets under management across 324 investment vehicles as of March 31, 2018. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Credit and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,575 people in 31 offices across six continents.

Web: www.carlyle.com
Videos: www.youtube.com/onecarlyle
Tweets: www.twitter.com/onecarlyle
Podcasts: www.carlyle.com/about-carlyle/market-commentary

About Carlyle Europe Technology Partners

Carlyle Europe Technology Partners (CETP) seeks to invest in European technology, media and telecommunications (TMT) companies. CETP’s European team of advisors provides strategic direction and resources to help accelerate the growth of companies in which CETP has invested and to support their efforts to expand internationally and to open up new market opportunities. The current fund is now the fourth one in the CETP franchise. In total, more than 143 investors from 34 countries have made commitments to CETP funds.

About Carlyle Asia

The Carlyle Asian private equity team (excluding Japan) has more than 50 investment professionals in eight offices, including Beijing, Hong Kong, Jakarta, Mumbai, Seoul, Shanghai, Singapore and Sydney. As of March 31, 2018, Carlyle’s Asian private equity platform has invested more than US$15 billion of equity, and currently has US$16.3 billion of assets under management.

In China, Carlyle has invested more than US$8 billion of equity in over 95 transactions as of March 31, 2018.

In Japan, Carlyle is the only global alternative asset manager to establish a dedicated Japan buyout fund denominated in yen. Carlyle’s Japan buyout funds, which have made 23 investments in Japan, have a track record of supporting Japanese mid-cap companies’ overseas business expansion, enhancing their operational efficiency and strengthening their management infrastructure.

Media Contacts

LPG Systems
Mandarine Basset
mandarine.basset@lpgsystems.com

The Carlyle Group

Katarina Sallerfors
Katarina.sallerfors@carlyle.com
+44 (0)20 7894 3554

Brian Zhou
Brian.zhou@carlyle.com
+86 10 57067070

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Forbion exceeds target with EUR 270 million first close of its fourth life sciences VC fund

Forbion

Investment focus will be on new drugs and technologies that will truly impact the future of medicine

Naarden, The Netherlands, and Munich, Germany, 11 July 2018 – Forbion, a leading European life science venture capital firm, has today announced the first close of its fourth flagship fund Forbion IV, at EUR 270 million, exceeding the EUR 250 million target size.

Forbion IV, like its predecessor fund, Forbion III, will primarily focus on EU and the UK (together c. 80% of investment), with the remainder of the fund targeting opportunities in North America.

Building on the successful Forbion III strategy, Forbion’s latest fund will have an even sharper focus on biotech. Forbion will also look to build on its proven ability to curate, initiate and transform investment ideas into standalone, high-return businesses, built around exciting new science, proven teams or assets sourced externally from Pharma. It will thus build a portfolio of approximately 15 companies, of which ten will be existing “growth” opportunities and five will be new companies (co-)founded by Forbion, so-called “build” opportunities.

The fourth fund will target substantial initial stakes of 20-50%, looking to take lead positions and work alongside entrepreneurial management teams to deliver exceptional returns as shown by Forbion’s highly successful third Fund (2015 vintage), which has already delivered three exits with several more in the making, including one near-term IPO.

Forbion has assembled a highly specialized and experienced team to manage the Fund, led by Sander Slootweg, Geert-Jan Mulder and Martien van Osch. The investment team are in turn supported by a high caliber group of operating partners, venture partners and advisers which affords Forbion exceptional reach and depth into its chosen markets.

A strong pipeline of investment opportunities has already been identified and the first close will facilitate Forbion’s discussion on these deals.

Forbion is targeting Autumn 2018 for the final close of Forbion IV.

Commenting, Sander Slootweg, Managing Partner, said:
“We have received exceptional support from both new and existing investors to reach the EUR 270 million first close. This is testament to the unrivalled experience and track record Forbion has built over many years of investing in European life sciences opportunities.

“The success of our first close not only reflects Forbion’s consistent delivery of upper quartile returns but also its clear vision and proprietary methodology for identifying new prospects. We continue to see the opportunities for superior returns, in part due to the ongoing undersupply of capital for European development-stage life sciences investment and its non-cyclical nature.

“Forbion will continue to benefit from its deep European and US/Canadian network and from its fundamental commercial understanding of the political, legal, regulatory and cultural dynamics at work across Europe; these factors contribute to our standing as an investor of choice in the European life sciences.

“We welcome our new investors and look forward to executing on our robust pipeline of opportunities and delivering continued outperformance.”

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