Leading Benefit Solutions Provider Will Become Anchor Business for Ascensus’ Newly Formed Health Division

DRESHER, PA—March 20, 2018— Ascensus, a technology-enabled service provider that helps more than 7 million Americans save for the future, has entered into an agreement to acquire Chard Snyder. Chard Snyder, which will serve as the anchor business for Ascensus’ newly formed Health division, is a third-party administration firm that services consumer directed health (CDH) plans including health savings accounts, health reimbursement arrangements, and flexible spending accounts. It also offers benefit continuation services like COBRA and FMLA leave administration along with retiree billing administration and commuter benefits.

Based in Mason, Ohio, Chard Snyder provides employee benefit solutions to more than 1,400 employers throughout the United States in sectors that include Higher Education, Healthcare, Municipalities, Manufacturing, and Banking & Financial. With a 30-year track record of helping clients successfully navigate diverse and complex regulatory mandates, the firm assists employers and their employees in meeting their health benefit needs by making benefit plans easy to understand.

“When looking at Chard Snyder, we identified a market leader in the CDH space with an outstanding market and client reputation,” states David Musto, Ascensus’ president. “Adding their employee benefits expertise to our suite of service offerings positions Ascensus to better achieve our mission of helping Americans save for retirement, education, and health needs.”

“This is a core business for us, and it will significantly expand our service offerings to our current clients, advisors, and partners,” continues Musto. “I’m pleased to welcome Chard Snyder’s management team and their associates to our organization.”

“Chard Snyder’s difference has always been our people and our ability to maintain authentic customer experiences,” says Joy Snyder, president of Chard Snyder. “As part of Ascensus, we’ll continue to provide a no-noise atmosphere to our advisors, clients, and business partners via a highly personalized approach that incorporates flexibility and customization in addition to technology and compliance expertise.”

“Chard Snyder is an ideal anchor business for Ascensus’ expansion into the CDH and benefit administration space,” says Raghav Nandagopal, Ascensus’ executive vice president of corporate development and M&A. “With this acquisition, we are aligning to the market trends of the consolidation of savings, retirement, and health solutions—and we are delighted with the potential growth runway it entails.”

“In addition to possessing a scalable technology platform and outstanding service delivery capabilities, Chard Snyder’s core values align nicely with Ascensus’ client-first approach,” continues Nandagopal. “We believe they provide a foundation for strong organic growth in our newly formed Health division, and we will look for opportunities to enhance this and other areas of our business to support Ascensus’ immediate and long-term growth plans.”

About Ascensus

Ascensus helps more than 7 million Americans save for the future—retirement, education, and healthcare—through technology-enabled solutions. With more than 35 years of experience, the firm offers tailored solutions that meet the needs of asset managers, banks, credit unions, state governments, financial professionals, employers, and individuals. Ascensus supports over 54,000 retirement plans, more than 4 million 529 education savings accounts, and a growing number of ABLE savings accounts. It also administers more than 1.5 million IRAs and health savings accounts. As of December 31, 2017, Ascensus had over $163 billion in total assets under administration. For more information about Ascensus, visit ascensus.com.

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MEDIA INQUIRIES:

Roberta Hess
Ascensus
Senior Vice President Marketing & Communications
Tel: 215-648-1426
Media@ascensus.com

Chicago and London, March 19, 2018 – Funds advised by Apax Partners (“the Apax Funds”) today announced they have entered into a definitive agreement to purchase from BD (Becton, Dickinson and Company) its remaining ownership interest in Vyaire Medical, Inc., a global leader in respiratory care.

Upon completion of the transaction, which is expected to occur by the end of April (subject to customary closing conditions), Vyaire Medical will be 100% controlled by the Apax Funds.

The Apax Funds acquired a majority stake in Vyaire Medical, previously BD’s Respiratory Solutions business, in October 2016. BD initially retained a minority stake in the newly independent company through a joint venture with the Apax Funds. Today, Vyaire Medical is the leading pure play medical device company in the respiratory space. With approximately $800 million in annual sales, Vyaire Medical is active in manufacturing and distributing both respiratory and anesthesia/surgical consumables as well as capital equipment for respiratory diagnostics and ventilation. Vyaire thereby supports the care of chronic and acute respiratory patients as well as the airway management of surgical patients across the healthcare continuum.

Steven Dyson, Partner at Apax Partners, said, “Since the Apax Funds acquired a majority stake in Vyaire Medical in October 2016, strong progress has been made by the business. A new senior management team led by CEO Dave Mowry has established key functions, delivered operational improvements, upgraded commercial capabilities and made two accretive acquisitions. It was on the basis of this progress, and the promise that we continue to see for the business, that we sought to acquire BD’s minority stake. We would like to thank the BD team for being excellent partners and supporting the company through its history.”

Dave Mowry, Vyaire’s President and Chief Executive Officer, said, “We are pleased with the progress our team has achieved over the past 18 months in establishing Vyaire Medical as a focused and leading global respiratory solutions provider with the objective of improving patient outcomes and increasing value for our customers. Our success in standing up Vyaire Medical as an independent company also has been made possible by the support of BD and the contributions from Apax Partners, which has provided our team with a range of capabilities, including the expertise from its Operational Excellence team of dedicated functional specialists.”

About Vyaire Medical
Vyaire Medical supports and improves the lives of patients with a laser-focus on improving patient outcomes and increasing value for customers. The Chicago, IL.-headquartered company was formed in October 2016 to serve healthcare customers with innovative device and service solutions across the respiratory and anesthesia continua of care. Vyaire’s legacy brands have a 65-year track record of pioneering, innovating, and advancing respiratory diagnostics, ventilation, and anesthesia delivery & patient monitoring. From industry-pioneering brands that include Bird, Bear, and Jaeger to respected industry leaders AirLife®, Vital Signs®, Viasys, and many others – Vyaire Medical has nearly 27,000 distinct part numbers recognized, trusted and preferred by specialists in the respiratory therapy and anesthesiology healthcare markets worldwide. Learn more at www.vyaire.com.

About Apax Partners
Apax Partners is a leading global private equity advisory firm. Over its more than 35-year history, Apax Partners has raised and advised funds with aggregate commitments of over $50 billion. Apax Partners’ Main Buyout Funds invest in companies across four global sectors of Healthcare, Tech & Telco, Services and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. Apax Partners has a strong track record in corporate carve-outs, supported by its Operational Excellence Practice, a team of dedicated operating specialists who support deal teams and drive value creation in the portfolio.

For more information see www.apax.com.

Media Contacts  

For Apax Partners:

Global Media: Andrew Kenny, Apax | +44 20 7 872 6371 | andrew.kenny@apax.com

USA Media: Todd Fogarty, Kekst | +1 212-521 4854 | todd.fogarty@kekst.com

UK Media: Matthew Goodman / James Madsen, Greenbrook | +44 20 7952 2000 | apax@greenbrookpr.com

Nordic Capital Fund IX (“Nordic Capital”) today announced the signing of the acquisition of Ober Scharrer Group (“OSG” or “the Group”). OSG is Germany’s largest provider for treatments for major causes of blindness and visual impairment as well as non-invasive treatments and diagnosis of eye disorders.

OSG, founded in 1982 and headquartered in Fürth, Germany, offers a broad spectrum of specialised ophthalmic treatments and provides high quality medical care to both public and private patients. Key services provided are surgical treatments such as cataract operations and Intravitreal Operative Drug Application (IVOM) for degenerative eye disorders. The Group has 900 employees performing more than 85,000 treatments per year across its c. 80 clinics in Germany.

As a leading healthcare investor with a 25-year track record of building high quality, sustainable healthcare businesses, Nordic Capital intends to support and further develop Ober Scharrer in line with its current strategy.

“The opportunity for future growth in the fragmented ophthalmic outpatient market is extensive and we are excited about the prospects as we continue to build our business. With Nordic Capital we have found a partner and owner that share our dedication to medical excellence, patient satisfaction and quality of services as well as our vision for growth. We believe Nordic Capital’s extensive experience in healthcare, both in and outside Germany, will be very valuable in the years to come,” comments Sibylle Stauch-Eckmann, CEO of OSG.

“Nordic Capital has followed this sector for several years, observing how OSG has continued to build its strong position and reputation for delivering medical excellence. Nordic Capital looks forward to investing in and supporting OSG’s further development and growth in its field of expertise where we see a strong demand for specialised, high quality centres to provide treatments,” says Joakim Lundvall, Partner at the Advisor to the Nordic Capital Funds.

With the acquisition of OSG from Palamon Capital Partners, Nordic Capital continues to build its healthcare franchise in the German speaking region. Since inception, the Nordic Capital Funds have invested in over 20 healthcare platforms across Europe and the USA.

The parties have agreed to not disclose the financial details. The transaction is subject to customary regulatory approvals.

Media contacts:

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

About Ober Scharrer Group

The Ober Scharrer Group was established in 1982 by two physicians Dr Ober and Dr Scharrer. Headquartered in Fürth, the company now has c. 80 facilities across Germany, 900 employees and delivers more than 85,000 treatments per year. Key group services include cataract operations and Intravitreal Operative Drug Application (IVOM) for degenerative eye disorders, as well as non-invasive eye treatments and the diagnosis of eye disorders. For more information on the Ober Scharrer Group refer to www.osg.de

About Nordic Capital

Nordic Capital is a leading private equity investor in the Nordic region with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a proven track record. Core sectors are Healthcare, Technology & Payments, Financial Services, Industrial Goods & Services and Consumer & Retail, and key regions are the Nordics, Northern Europe, and globally for Healthcare. Since inception in 1989, Nordic Capital has invested EUR 12 billion in close to 100 investments. The Nordic Capital Funds are based in Jersey and are advised by advisory entities, which are based in Sweden, Denmark, Finland, Norway, Germany and the UK. For further information about Nordic Capital, please visit www.nordiccapital.com

Funds advised by Nordic Capital (“Nordic Capital”) today announced the formation of a leading European dental clinic group, comprising the acquisition of three fast-growing and quality focused dental clinic chains in the Netherlands, Switzerland and Germany, as well as an innovative dental technology and laboratory company with a strong base in the German market (the “Group”).

As part of the transactions, Nordic Capital has signed agreements to acquire Top Mondzorg BV, the owner of Dental Clinics Nederland and TopOrtho (“Dental Clinics”) with a combined 88 clinics in the Netherlands and Adent Cliniques Dentaires Groupe SA (“Adent”) with 22 clinics in Switzerland. Nordic Capital acquired Adent and Dental Clinics from Oaktree Capital Management. In addition, Nordic Capital has agreed to acquire DPH Dental Partner Holding GmbH, Germany’s largest dental laboratory operator and SFE Beteiligungsgesellschaft mbH, the owner of Zahnstation, the Cologne-based dental clinic chain with 6 locations.

Nordic Capital intends to continue the investment into the Group’s leading quality standards, best-in-class operating model and strong local brands, which are recognised for the best clinical environments, leading edge technology and highly trained staff by patients and dentists alike. With its scale and expanding presence in the most attractive European dental care markets, the Group will be at the forefront of innovation, remaining focused on providing the best dental care for its patients.

“Through these acquisitions Nordic Capital will establish a leader in the European dental services markets with best in class operational capabilities and a strong track record of organic and acquisitive growth. The European dental care markets remain very fragmented and there is significant potential to continue to actively drive consolidation. We aim to draw on Nordic Capital’s extensive experience from ownership of high quality and rapidly expanding healthcare clinic chains, including the leading European veterinary care provider AniCura, to capitalise on this growth opportunity. We look forward to working together with management to continue to grow the Group in its existing markets in the Netherlands, Switzerland, Germany, and beyond” says Jonas Agnblad, Partner, Advisor to the Nordic Capital Funds.

Nordic Capital is a leading healthcare investor with a 25-year track record of building high quality, sustainable healthcare businesses in Europe and the US.

The transactions are subject to customary regulatory approvals.

Media contacts:

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

About Dental Clinics

Dental Clinics is an innovative, leading dental care provider in the Netherlands with 88 dental and orthodontic clinics operating under the Dental Clinics and TopOrtho brands. The modern clinics offer a full range of general and specialist dental treatments and serve more than 500,000 patients annually. The Company was founded in 2007 and has subsequently expanded through organic growth and a successful clinic acquisition strategy. Dental Clinics’ patient-oriented operating model is underpinned by strong focus on team work, relentless quality management and an efficient organisation. The Company is focused on offering high quality dental care in a modern and safe environment.

About Adent

Adent is a quality focused dental chain with 22 large clinics in Switzerland, and the only Swiss dental care provider operating across the French and German speaking regions of the country. The Company was founded in 1997 when the first clinic was opened in Ecublens, and has subsequently expanded through clinic acquisitions and the opening of new sites. Adent’s clinics offer a full range of general and specialist dental treatments, and operate extended opening hours in accessible locations to ensure best service and quality of care for its patients.

About Dental Partner Holding

Dental Partner Holding is a leading European provider of high technology dental laboratory services, operating a country-wide network of 35 laboratories in Germany under the Flemming Dental brand together with 3 locations in Norway under the Artinorway brand. Founded in 1998, the Company is headquartered in Hamburg with a technology centre in Leipzig for the modern, digitally enabled manufacturing of dental prostheses. The Company’s operations are based on the highest quality standards, comprehensive local services to dentists and efficient centralised manufacturing using the latest digital technologies.

About Zahnstation

Zahnstation is a fast-growing dental chain in Germany, currently operating a network of 6 dental clinics in the Cologne area. Zahnstation’s clinics offer a range of general and specialist dental treatments, with a focus on high quality care and patient convenience through extended opening hours and accessible locations.

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. The 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. The 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

Wayne, PA, – Feb. 9, 2018 – Genex Services (“Genex”), a leading provider of cost containment services to the workers’ compensation, disability and auto industries, announced today that funds managed by private equity firm Stone Point Capital LLC (”Stone Point”) have entered into a definitive agreement to acquire a majority interest in Genex from funds advised by Apax Partners, a global private equity firm. The transaction is expected to close in the first quarter of 2018.

Founded in 1978, Genex helped introduce the medical management concept and has become one of the largest and most experienced medical cost containment and disability management providers today. Genex offers a broad continuum of services including utilization management, case management, bill review, independent medical examinations, Medicare Set-Asides, and Social Security Disability Insurancerepresentation.

“This transaction renews a successful partnership between Genex and Stone Point. Stone Point had previously acquired the company in 2007 before selling to the Apax Funds in 2014. Both Apax Partners and Stone Point have been strong business partners of Genex and supported the expansion of its service capabilities both organically and through acquisitions,” said Peter Madeja, Genex’s President and Chief Executive Officer.

“We are excited to partner with Stone Point,” said Madeja. “Genex is a well-established leader in workers’ compensation, auto, and disability management solutions. Our partnership with Apax Partners allowed us to significantly expand our portfolio of solution offerings across the continuum of managed care. We believe that Stone Point’s commitment to continue to grow and enhance Genex’s capabilities will further enrich the value proposition we offer to customers through the depth and breadth of resources we bring to the market.”

Andrew Cavanna, Partner at Apax Partners, added: “We would like to thank Peter and the rest of the management team for being excellent partners over the past four years and for successfully growing Genex’s business and capabilities. We wish the team every success for the future.”

“We are thrilled to be partnering with Peter and the Genex team again to further their continued expansion within the markets they serve,” added Chuck Davis, CEO of Stone Point.  “We have a strong relationship with Peter and his talented management team, which has been developed over more than ten years, and we now look forward to the opportunity to support Genex as the company continues to build upon its long history of success.”

SunTrust Robinson Humphrey served as the exclusive strategic and financial advisor to Genex. Financial terms were not disclosed.

About Genex Services, LLC
Genex Services (www.genexservices.com) is the trusted provider of managed care services enabling clients to transform their bottom lines while enhancing the lives of injured and disabled workers. Genex is a managed care leader with more than 2,900 employees and 41 service locations throughout North America. The company serves the top underwriters of workers’ compensation, automobile, disability insurance, third-party administrators and a significant number of Fortune 500 employers. In addition, Genex is the only company that delivers high-quality clinical services enhanced by intelligent systems and 360-degree data analysis. The company consistently drives superior results related to medical, wage loss, and productivity costs associated with claims in the workers’ compensation, disability, automobile, and health care systems.

About Stone Point Capital
Stone Point Capital LLC (www.stonepoint.com) is a financial services-focused private equity firm based in Greenwich, CT.  The firm has raised and managed seven private equity funds – the Trident Funds – with aggregate committed capital of approximately $19 billion.  Stone Point targets investments in the global financial services industry, including investments in companies that provide outsourced services to financial institutions, banks and depository institutions, asset management firms, insurance and reinsurance companies, insurance distribution and other insurance-related businesses, specialty lending and other credit opportunities, mortgage services companies and employee benefits and healthcare companies.

About Apax Partners
Apax Partners (www.apax.com) is a leading global private equity advisory firm. Over its more than 35-year history, Apax Partners has raised and advised funds with aggregate commitments of $51 billion*. Apax Partners’ Main Buyout Funds invest in companies across four global sectors of Tech & Telco, Services, Healthcare and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies.

* Funds raised since 1981, commitments converted from fund currency to USD at FX rates as at 31 December 2017.

Media Contacts

Genex Services
Tom Kerr, Genex Services | +1 610-964-5213 | tom.kerr@genexservices.com

Apax Partners
Global Media: Andrew Kenny, Apax | +44 20 7 872 6371 | andrew.kenny@apax.com
USA Media: Todd Fogarty, Kekst | +1 212-521 4854 | todd.fogarty@kekst.com
UK Media: Matthew Goodman / James Madsen, Greenbrook | +44 20 7952 2000 | apax@greenbrookpr.com

Stone Point Capital
Jim Henderson | +1 203-862-3162 | jhenderson@stonepoint.com
Mary Manin | +1 203-862-3126 | mmanin@stonepoint.com

Gimv today announced a EUR 7 million investment in Ireland-based The Foundry Innovation and Research 1, Ltd. (FIRE1), a medtech company that is developing a connected monitoring solution to improve outcomes for people suffering from an increased risk of heart failure.This investment is part of a Series C financing of in total EUR 40 million from a strong syndicate of specialised investors, led by new investor Gilde Healthcare, with the participation of new investors Gimv and Seventure as well as all existing investors.

FIRE1 (www.fire1foundry.com) is the 15^th medical device company and the 1^st European spin-out from The Foundry, a successful Menlo Park, California-based medical device company incubator. FIRE1’s first product is a novel remote monitoring solution to improve outcomes for patients suffering from an increased risk of heart failure. Early detection enables a timely intervention and adjustment of pharmacotherapy, the Us avoiding hospitalisation, improving quality of life and lowering health care costs.

FIRE1 is led by an experienced medical devices team working closely with researchers, clinicians, patients and payers to help reduce the burden of heart failure.

Patrick Van Beneden, Partner in Gimv’s Health & Care platform, on this transaction: “We are very pleased to be involved in FIRE1, a company with an experienced team That is developing a new monitoring device for heart failure. This is a market with growing unmet needs, as cardiac disease is currently the world’s leading cause of death. This financing represents one of the bigger medtech transactions in Europe over the last months and is supported by an outstanding investor syndicate.”

The current financing, in which existing investors New Enterprise Associates, Lightstone Investors and Medtronic are also participating, will be used to complete a first-in-human study as well as for the submission of an IDE.

ABOUT GIMV

Gimv is a European investment company with almost 38 years’ experience in private equity and venture capital. Listed on Euronext Brussels, Gimv currently manages around 1.6 billion EUR (including co-investment partnerships) of investments in about 50 portfolio companies.

As a recognized market leader in selected investment platforms, Gimv identifies entrepreneurial and innovative companies with high-growth potential and supports them in their transformation into market leaders. Gimv’s four investment platforms are: Connected Consumer, Health & Care, Smart Industries and Sustainable Cities. Each of these platforms works with a skilled and dedicated team across Gimv’s home markets of the Benelux, France and Germany and can count on an extended international network of experts.

More information on Gimv can be found on www.gimv.com.

For further information please contact:

Patrick Van Beneden, Partner in Gimv’s Health & Care platform

T +32 3290 2136 –  patrick.vanbeneden@gimv.com

Frank De Leenheer, Investor Relations & Corporate Communications Manager

Gimv T +32 3 290 22 18 – frank.deleenheer@gimv.com