Tag Archives: healthcare

Ardian to support future growth strategy of international home care provider Dovida

Ardian

Ardian, a world-leading private investment firm, acquires a majority stake in Horizon Home Care Group AG, a Swiss-based international provider of non-medical home care services operating under the name Dovida (“Dovida”). An agreement to this effect was signed. Ardian is acquiring the shares from the previous majority shareholder and company founder Paul Fritz, asset manager Unigestion, and Swiss family office Verium. Paul Fritz will continue to lead the firm as CEO and, along with Verium, will reinvest significantly in Dovida as part of the transaction. Dovida’s management will also hold a stake in the company. Further details and financial terms of the transaction were not disclosed.

Founded in 2007, Dovida employs approximately 12,000 individuals who provide home care services to those in need, enabling its clients to continue living in their own homes as long as possible and in accordance with their preferences. Dovida offers a wide range of non-medical services, including companion care, home help, basic care, overnight assistance, dementia care, as well as support for palliative situations and caregiving relatives. Dovida’s services not only enhance the quality of life for clients but also contribute significantly to society by alleviating pressure on inpatient care facilities, which are experiencing capacity constraints in many regions.

In addition to its domestic operations in Switzerland, the Rheinfelden-based company maintains a significant presence in Ireland, Australia, and the Netherlands, where it operates over 70 local branches. Dovida is recognized as a leading provider within its sector in numerous markets. This achievement is largely attributed to the company’s strong reputation for delivering high-quality care, as reflected by outstanding satisfaction ratings from both clients and employees. Central to this success is Dovida’s excellent management team, unwavering commitment to service quality, and well-established internal processes developed within a founder-managed company. Over nearly two decades since its inception, Dovida has built on this basis to realize successful international expansion, both organically and through strategic acquisitions. With Ardians’ support, the company plans to continue and accelerate this growth trajectory and further internationalize its operations. Throughout this process, Dovida remains committed to maintaining an uncompromising high standard of care as its core promise to its clients.
“Partnering with Ardian is an honour and a testament to our successful track record. The quality standards provided by Dovida are increasingly setting the benchmark in our industry. With the expertise of Ardian in developing and internationalising companies, we are now opening up completely new opportunities to tap into new markets, improve people’s quality of life in those markets and take the strain off their families and the local healthcare system.” Paul Fritz, Company Founder and CEO, Dovida
“Dovida provides solutions tailored to the demands of an aging society. The company recognizes both the growing need and the importance of enabling individuals who require assistance to remain in their familiar environments for as long as possible, while supporting their independence. Dovida’s excellent reputation is a key contributor to its ongoing success. We appreciate the trust which founder Paul Fritz has placed in Ardian as a future partner, and we look forward to working together with him and the global management team.” Yannic Metzger, Managing Director, Expansion, Ardian

Participants

  • Ardian

    • Ardian: Yannic Metzger, Dirk Wittneben, Nicolas Münzer, Janine Paustian, Bastian Spleiter
    • Financial / Tax: Deloitte
    • Commercial: LEK
    • Legal (Corporate / Financing / Structuring): Niederer Kraft Frey
    • ESG: AXA Climate
    • Insurance: Marsh
    • M&A Advisory: Lincoln International

ABOUT ARDIAN

Ardian is a world-leading private investment firm, managing or advising $180bn of assets on behalf of more than 1,850 clients globally. Our broad expertise, spanning Private Equity, Real Assets and Credit, enables us to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs. Through Ardian Customized Solutions we create bespoke portfolios that allow institutional clients to specify the precise mix of assets they require and to gain access to funds managed by leading third-party sponsors. Private Wealth Solutions offers dedicated services and access solutions for private banks, family offices and private institutional investors worldwide. Ardian’s main shareholding group is its employees and we place great emphasis on developing its people and fostering a collaborative culture based on collective intelligence. Our 1,050+ employees, spread across 20 offices in Europe, the Americas, Asia and Middle East are strongly committed to the principles of Responsible Investment and are determined to make finance a force for good in society. Our goal is to deliver excellent investment performance combined with high ethical standards and social responsibility.

At Ardian we invest all of ourselves in building companies that last.

www.ardian.com

ABOUT DOVIDA

Dovida provides person-centred home care which is carefully designed to support, empower and uplift individuals, and enhance their quality of life. Dovida’s global footprint spans six countries (Australia, Ireland, France, Netherlands, New Zealand, and Switzerland) delivering nine million hours of care each year. With a global presence and a local touch, Dovida delivers care that’s personal, empowering, and impactful.

www.dovida.ch

Press contact

Ardian

Charles Barker

ardian@charlesbarker.de+49 69 79409026

Categories: News

Tags:

Kuraray Noritake Dental Inc. Partners with nyce.logic to set new WMS standard

Stg Partners

Kuraray Noritake Dental Inc. has selected nyce.logic as its new warehouse management system (WMS) provider, marking a strategic move to modernize and future-proof its logistics operations. The nyce.logic WMS will be implemented at Kuraray Noritake Dental Inc.’s distribution center for dental products in IJmuiden, the Netherlands. The project is set to launch in September 2025, with a go-live planned for April 2026.

Kuraray Noritake comments:

“After a thorough review, it was clear that nyce.logic was the ideal fit. The system is user-friendly and flexible enough to support our logistics independently. Right now, our first step is implementing nyce.logic WMS in Europe. When that proves successful, we aim to extend the solution to our logistics operations in America.”

Ronald Bakker, Client Executive at nyce.logic, comments:

“Partnering with Kuraray Noritake marks a major milestone for nyce.logic as we grow our footprint across the Benelux region and Europe. Our shared values of innovation and continuous improvement make this collaboration a perfect fit. Together, we are confident in setting a new standard for warehouse management in the indu

Categories: News

Tags:

Waystar to Acquire Iodine Software, Accelerating the AI-Powered Transformation of Healthcare Payments

Advent
  • Extends Waystar’s AI leadership into clinical intelligence software, unlocking greater value for clients and shareholders
  • Highly recurring subscription-based business projected to be accretive to Waystar’s financial profile
  • Expected to expand Waystar’s total addressable market by more than 15%
  • Conference call to be held Wednesday, July 23, 2025, at 5:30 p.m. ET

LEHI, Utah, LOUISVILLE, Ky., and AUSTIN, Tex., July 23, 2025 – Waystar (Nasdaq: WAY), a provider of leading healthcare payment software, today announced a definitive agreement to acquire 100% of Iodine Software (“Iodine”) from shareholders led by Advent International, a leading global private equity investor, for a total enterprise value of $1.25 billion. The proposed transaction is expected to accelerate Waystar’s ability to transform healthcare payments through its leading cloud-based software platform, empowering more than one million providers with advanced AI capabilities to prevent denials, reduce manual work, and improve financial performance.

Building on Waystar’s track record of successful M&A execution and synergy realization, Waystar expects the acquisition of Iodine to be immediately accretive to gross margin and adjusted EBITDA margin, and accretive to revenue growth and non-GAAP net income per diluted share in 2027.

Iodine is trusted by many of the nation’s premier health systems for its AI-powered clinical intelligence software. Up to 60 million claims are denied each year due to administrative errors in the critical stage between care delivery and submission, costing providers billions in lost revenue. This highlights the essential role of accurate clinical documentation and coding in preventing revenue leakage and underpayments.

Together, Waystar and Iodine will be better positioned to help decrease the estimated $440 billion in annual administrative costs* burdening providers. Waystar brings a decade-long track record of applying AI pervasively across its software platform to simplify healthcare payments. Iodine extends that leadership into clinical intelligence software, leveraging proprietary AI models trained on one of the industry’s largest clinical datasets, representing more than a third of all U.S. inpatient discharges.

“Our mission is to simplify healthcare payments by eradicating unnecessary denied claims, automating manual work, and increasing transparency for providers and patients,” said Matt Hawkins, Chief Executive Officer of Waystar. “We are committed to transforming healthcare through harnessing the power of AI to tackle the most critical challenges in healthcare payments. Welcoming Iodine’s talented team and clinical intelligence platform to Waystar is a terrific next step in achieving our mission.”

“We are proud to have built a market-leading AI software company in partnership with Advent, Bain Capital Ventures, and Silversmith Capital Partners, and are thrilled to join Waystar, an organization that shares our deep commitment to modernizing the revenue cycle for providers,” said William Chan, Co-Founder and Chief Executive Officer of Iodine Software. “From day one, our focus has been helping hospitals and health systems capture the full value of care through transformational AI. As part of Waystar, we are excited to accelerate that mission and amplify the value delivered to healthcare providers.”

“Our success has been driven by strong partnerships, continuous innovation, and meaningful outcomes,” added Mike Kadyan, Co-Founder and Chairman of Iodine Software. “We look forward to delivering even greater outcomes for providers as part of Waystar’s market-leading platform.”

“It has been a privilege to partner alongside the Iodine team as they have built a category-defining AI-powered revenue cycle platform consistently delivering exceptional ROI to its clients,” said Lauren Young and Carmine Petrone, Managing Directors at Advent. “We are excited to build on that foundation together with Waystar to drive even greater impact across healthcare, empowering organizations to optimize their financial performance.”

Strategic and Financial Benefits

  • Unlocks transformational outcomes across the revenue cycle: Waystar expects to unlock new automation throughout its platform, leveraging Iodine’s industry-leading AI capabilities in clinical documentation integrity, utilization management, and prebill revenue leakage identification to further streamline cumbersome tasks for providers. The addition of these solutions is expected to expand Waystar’s total addressable market by more than 15%.
  • Accelerates AI innovation with clinical intelligence: Integrating Iodine’s unique clinical data assets with Waystar’s expansive data network is expected to enhance the impact and reach of Waystar AltitudeAI™. Waystar expects to create opportunities that quickly expand GenAI applications in prior authorizations, claims management and processing, denial prevention, and appeals. Iodine’s proprietary clinical AI engine, IodineIQ, continuously trains on millions of patient encounters and billions of clinical data points to deliver relevant insights.
  • Deepens relationships with premier health systems: Iodine brings strong adoption and credibility among leading hospitals and health systems. Iodine’s footprint is expected to expand Waystar’s scale and deepen relationships with premier providers. The combined company is expected to serve 17 of the 20 U.S. News Best Hospitals.
  • Strengthens Waystar’s financial profile: Waystar will benefit from Iodine’s fully subscription-based revenue model as well as significant cross-sell potential to both companies’ client bases. In addition, Waystar has identified more than $15 million in run-rate cost synergies, to be realized within the first 18-24 months following closing.

Transaction Details
The transaction will be funded with a 50/50 mix of cash and stock consideration. Upon closing of the transaction, current Waystar shareholders will own approximately 92% of the combined company on a fully diluted, pro forma basis and Iodine equity holders will own approximately 8%. Advent, Iodine’s largest shareholder, is expected to only receive Waystar shares in connection with the transaction and will agree to be locked up for 18 months after closing.

Following the transaction, Waystar expects to maintain a strong balance sheet with an estimated adjusted net leverage ratio at transaction close of approximately 3.5x.

The transaction is anticipated to close by year-end 2025, subject to customary closing conditions and applicable regulatory approvals.

Preliminary Second Quarter 2025 Results
Waystar expects second quarter 2025 revenue to be approximately $271 million, representing approximately 15% year-over-year growth.

The foregoing estimates are preliminary and unaudited and based on management’s initial analysis of operations for the quarter. Waystar looks forward to sharing additional information regarding the company’s second quarter 2025 results as previously scheduled on July 30, 2025.

Advisors
Barclays is serving as exclusive financial advisor, and Simpson Thacher & Bartlett LLP is serving as legal advisor to Waystar.

J.P. Morgan Securities is serving as exclusive financial advisor, and Weil, Gotshal & Manges LLP and Queen Saenz + Schultz PLLC are serving as legal advisors to Iodine.

Conference Call
Waystar will discuss the transaction on a conference call today, Wednesday, July 23, 2025, at 5:30 p.m. Eastern Time. The conference call can be accessed by dialing (800) 715-9871 from the United States and Canada or (646) 307-1963 internationally and using conference code 8810133. A live audio webcast of the conference call will be available on Waystar’s investor relations website at investors.waystar.com/news-events/events. Following the call, an audio replay will be archived on the site.

*CAQH Index Report 2024

About Waystar

Waystar’s mission-critical software is purpose-built to simplify healthcare payments so providers can prioritize patient care and optimize their financial performance. Waystar serves approximately 30,000 clients, representing over 1 million distinct providers, including 16 of 20 institutions on the U.S. News Best Hospitals list. Waystar’s enterprise-grade platform annually processes over 6 billion healthcare payment transactions, including over $1.8 trillion in annual gross claims and spanning approximately 50% of U.S. patients. Waystar strives to transform healthcare payments so providers can focus on what matters most: their patients and communities. Discover the way forward at waystar.com.

About Iodine Software

Iodine Software is the leader in AI-powered clinical intelligence, built to eliminate revenue leakage, lower administrative burden, and ensure accurate reimbursement. Trusted by more than 1,000 hospitals and health systems, Iodine delivers real-time insight and automation across the mid-revenue cycle: connecting clinical documentation, utilization management, and prebill workflows from admission through claim submission. For over a decade, health systems have trusted Iodine to apply the right AI – from machine learning, deep learning, large language models, GenAI, to Agentic AI – to the right use case, consistently delivering reliable, high-impact financial results.

At the core of the platform is IodineIQ, our proprietary Clinical Reasoning Knowledge Engine, featuring a robust clinical condition library and a dataset of millions of patient encounters and billions of clinical data points. IodineIQ mirrors clinical reasoning to surface opportunities, predict outcomes, and guide decisions; ensuring the patient’s clinical picture is fully and accurately reflected in status, documentation, and final codes. Discover more at www.iodinesoftware.com.

About Advent

Advent is a leading global private equity investor committed to working in partnership with management teams, entrepreneurs, and founders to help transform businesses. With 16 offices across five continents, we oversee more than USD $94 billion in assets under management** and have made over 430 investments across 44 countries.

Since our founding in 1984, we have developed specialist market expertise across our five core sectors: business & financial services, consumer, healthcare, industrial, and technology. This approach is bolstered by our deep sub-sector knowledge, which informs every aspect of our investment strategy, from sourcing opportunities to working in partnership with management to execute value creation plans. We bring hands-on operational expertise to enhance and accelerate businesses.

As one of the largest privately-owned partnerships, our 660+ colleagues leverage the full ecosystem of Advent’s global resources, including our Portfolio Support Group, insights provided by industry expert Operating Partners and Operations Advisors, as well as bespoke tools to support and guide our portfolio companies as they seek to achieve their strategic goals.

To learn more, visit our website or connect with us on LinkedIn.

**Assets under management (AUM) as of March 31, 2025. AUM includes assets attributable to Advent advisory clients as well as employee and third-party co-investment vehicles.

Forward-Looking Statements
This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, that reflect our current views with respect to, among other things, statements regarding Waystar’s expectations relating to future operating results and financial position, including full year 2025, and future periods; anticipated future investments; our industry, business strategy, goals, and deployment of artificial intelligence in our solutions, our market position, offerings, future operations, margins, and profitability. Forward-looking statements include all statements that are not historical facts. These statements may include words such as “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “future,” “will,” “seek,” “foreseeable,” “outlook,” the negative version of these words or similar terms and phrases to identify forward-looking statements in this press release, including any discussion of our guidance for full fiscal year 2025.

The forward-looking statements contained in this press release are based on management’s current expectations and are not guarantees of future performance. The forward-looking statements are subject to various risks, uncertainties, assumptions, or changes in circumstances that are difficult to predict or quantify. Our expectations, beliefs, and projections are expressed in good faith, and we believe there is a reasonable basis for them. However, there can be no assurance that management’s expectations, beliefs, and projections will result or be achieved. The following factors are among those that may cause actual results to differ materially from the forward-looking statements: our operation in a highly competitive industry; our ability to retain our existing clients and attract new clients; our ability to successfully execute on our business strategies in order to grow; our ability to accurately assess the risks related to acquisitions and successfully integrate acquired businesses (including our proposed acquisition of Iodine); our ability to establish and maintain strategic relationships; the growth and success of our clients and overall healthcare transaction volumes; consolidation in the healthcare industry; our selling cycle of variable length to secure new client agreements; our implementation cycle that is dependent on our clients’ timing and resources; our dependence on our senior management team and certain key employees, and our ability to attract and retain highly skilled employees; the accuracy of the estimates and assumptions we use to determine the size of our total addressable market; our ability to develop and market new solutions, or enhance our existing solutions, to respond to technological changes, or evolving industry standards; the interoperability, connectivity, and integration of our solutions with our clients’ and their vendors’ networks and infrastructures; the performance and reliability of internet, mobile, and other infrastructure; the consequences if we cannot obtain, process, use, disclose, or distribute the highly regulated data we require to provide our solutions; our reliance on certain third-party vendors and providers; any errors or malfunctions in our products and solutions; failure by our clients to obtain proper permissions or provide us with accurate and appropriate information; the potential for embezzlement, identity theft, or other similar illegal behavior by our employees or vendors, and a failure of our employees or vendors to observe quality standards or adhere to environmental, social, and governance standards; our compliance with the applicable rules of the National Automated Clearing House Association and the applicable requirements of card networks; increases in card network fees and other changes to fee arrangements; the effect of payer and provider conduct which we cannot control; privacy concerns and security breaches or incidents relating to our platform; the complex and evolving laws and regulations regarding privacy, data protection, and cybersecurity; our ability to adequately protect and enforce our intellectual property rights; our ability to use or license data and integrate third-party technologies; our use of “open source” software; legal proceedings initiated by third parties alleging that we are infringing or otherwise violating their intellectual property rights; claims that our employees, consultants, or independent contractors have wrongfully used or disclosed confidential information of third parties; the heavily regulated industry in which we conduct business; the uncertain and evolving healthcare regulatory and political framework; health care laws and data privacy and security laws and regulations governing our processing of personal information; reduced revenues in response to changes to the healthcare regulatory landscape; legal, regulatory, and other proceedings that could result in adverse outcomes; consumer protection laws and regulations; contractual obligations requiring compliance with certain provisions of the Bank Secrecy Act and anti-money laundering laws and regulations; existing laws that regulate our ability to engage in certain marketing activities; our full compliance with website accessibility standards; any changes in our tax rates, the adoption of new tax legislation, or exposure to additional tax liabilities; limitations on our ability to use our net operating losses to offset future taxable income ; losses due to asset impairment charges; restrictive covenants in the agreements governing our credit facilities; interest rate fluctuations; unavailability of additional capital on acceptable terms or at all; the impact of general macroeconomic conditions; our history of net losses and our ability to achieve or maintain profitability; actions of certain of our significant investors, who may have different interests than the interests of other holders of our securities; and each of the other factors discussed under the heading of “Risk Factors” in the Company’s 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 18, 2025, and in other reports filed with the SEC, all of which are available on the Investor Relations page of our website at investors.waystar.com.

Any forward-looking statements made by us in this press release speak only as of the date of this press release and are expressly qualified in their entirety by the cautionary statements included in this press release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. You should not place undue reliance on our forward-looking statements. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as may be required by any applicable securities laws.

Waystar Media Contact

Kristin Lee
kristin.lee@waystar.com

Daniel Yunger / Nick Capuano / Mark Fallati
Kekst CNC
kekst-waystar@kekstcnc.com

Waystar Investor Contact

investors@waystar.com

Iodine Software Media Contact

Michelle White
mjwhite@iodinesoftware.com

Isabella Morreale
SolComms
isabella@solcomms.com

Categories: News

Tags:

Medartis acquires remaining 53% stake in KeriMedical

medartis logo

Basel, 17 July 2025: Following FDA approval of the KeriMedical TOUCH prosthesis on 10 July, the Medartis Group has decided to acquire the remaining 53% of the privately held company in accordance with the existing agreement. The transaction values the remaining shares at CHF 99 million in cash, with potential additional earn-out payments.

The partnership, which began in December 2020, provides Medartis access to an innovative hand portfolio whilst enhancing the company’s technological expertise in joint replacement and expanding its surgeon network. Medartis has steadily increased its ownership and now acquires full ownership of the Geneva-headquartered company with its two production facilities in France. The Group acts as distribution partner for KeriMedical in Germany, Austria, the UK, and, most recently, Australia, and has doubled its revenue every year during this period. Globally, KeriMedical has delivered average annual growth of nearly 30% over the past three years, achieving total sales of CHF 31 million in 2024. The transaction will immediately contribute positively to Medartis’ sales growth and core EBITDA margin. Closing is expected in August 2025, subject to customary closing conditions. Under the terms of the agreement, the remaining shares are valued at CHF 99 million in cash in addition to some milestone payments extending through 2027.

To maximise market potential, KeriMedical will continue operating as a distinct brand within the Medartis Group, maintaining dedicated teams for development, marketing, surgeon education, and manufacturing. Both co-founders, Dougal Bendjaballah and Bernard Prandi, will remain on the Board of KeriMedical and continue their full commitment and active involvement following the acquisition. Their entrepreneurial drive, clinical expertise and innovative vision have been fundamental to KeriMedical’s success. Medartis is pleased that they will continue to contribute their experience as the company expands into new markets and develops additional clinical solutions.

“This acquisition is a logical step in our five-year partnership, expanding our capabilities in our core hand & wrist indication. KeriMedical’s distinctive products have contributed to our strong performance in Germany, Austria and the United Kingdom, where we hold the exclusive distribution rights. They are the perfect addition to our comprehensive hand portfolio”, stated Matthias Schupp, CEO of Medartis, while also recognising the importance of preserving the expertise and entrepreneurial approach that has driven KeriMedical’s success, and which remains central to Medartis future development.

Dougal Bendjaballah and Bernard Prandi, co-founders of KeriMedical, commented: “We are pleased to reach this agreement with Medartis. Since founding the company, we have focused on creating innovative solutions for hand surgery based on scientific excellence and close collaboration with surgeons. In Medartis, we have found a partner whose approach to innovation, quality and medical education aligns perfectly with our vision. Our products still have plenty of potential in Europe, and entering the US and Australian markets will keep us on a strong growth path.”

In preparation for the controlled US market launch of the TOUCH thumb prosthesis in early 2026, the company has established a comprehensive surgeon training programme, designated reference centres, and selected key opinion leaders. The flagship TOUCH product, a CMC-1 prosthesis for thumb rhizarthrosis treatment, has established a strong market presence in EMEA over the past decade. The prosthesis features comprehensive clinical data support[1] and differentiates itself through dual mobility technology and various cup designs and materials, enhancing longevity and addressing requirements of patients with metal sensitivities.

The TOUCH prosthesis addresses a significant clinical need in hand surgery. The CMC-1 joint represents one of the hand joints most frequently affected by osteoarthritis, with radiographic evidence present in 20-30% of individuals over 40 years of age, increasing substantially with advancing age [2,3]. Between 2-16% of patients progress to symptomatic osteoarthritis [2,4], causing noticeable clinical symptoms that affect the patient’s daily life.

Medartis will publish its financial results for H1 2025 on 19 August 2025, and will provide further details on the market launch plan and the potential of KeriMedical at that time.

1 https://www.kerimedical.com/en/portail-kerimedical-en/home-professional/touch-scientific-publications-2/
2 Haugen IK, Englund M, Aliabadi P, et al. Prevalence, incidence and progression of hand osteoarthritis in the general population: the Framingham Osteoarthritis Study Ann Rheum Dis. 2011;70(9):1581-1586. doi:10.1136/ard.2011.150078
3 Wilder FV, Barrett JP, Farina EJ. Joint-specific prevalence of osteoarthritis of the hand. Osteoarthritis Cartilage. 2006;14(9):953-957,
4 Zhang Y, Niu J, Kelly-Hayes M, Chaisson CE, Aliabadi P, Felson DT. Prevalence of symptomatic hand osteoarthritis and its impact on functional status among the elderly: The Framingham Study. Am J Epidemiol. 2002;156(11):1021-1027. doi:10.1093/aje/kwf141

Contact

Medartis Corporate Communications
Fabian Hildbrand, Head of Corporate Communications, investor.relations@medartis.com
Andreas Richter, Corporate Communications Manager, corporate.communication@medartis.com
+41 61 633 37 36 / +41 61 633 37 34

About Medartis
Founded in 1997 and headquartered in Basel, Switzerland, Medartis is one of the world’s leading manufacturers and providers of medical devices for surgical fixation of bone fractures for upper and lower extremities as well as for the craniomaxillofacial region. Medartis employs approx. 1,200 individuals across its 13 locations, with products offered in over 50 countries globally. Medartis is committed to providing surgeons and operating theatre personnel with the most innovative titanium implants and instruments as well as best-in-class service. For more information, please visit www.medartis.com.

About KeriMedical
Founded in 2016, KeriMedical specialises in developing and marketing a comprehensive range of implants exclusively for hand & wrist surgery. The KeriMedical team possesses extensive experience in orthopaedic surgery with expertise across all operational areas: design, manufacturing, quality, marketing and product promotion. KeriMedical collaborates with a panel of surgeons who have recognised expertise in France and internationally. These specialists share their clinical and medical knowledge to support the development and validation of new solutions. The company is headquartered in Geneva, employs approx. 150 employees and its products are available in 30 countries. For further information, please visit www.kerimedical.com.

Disclaimer
This communication does not constitute an offer or invitation to subscribe for or purchase any securities of Medartis Holding AG. This publication may contain certain forward-looking statements and assessments, or intentions concerning the company and its business. Such statements involve certain risks, uncertainties and other factors which could cause the actual results, financial condition, performance, or achievements of the company to be materially different from those expressed or implied by such statements. Readers should therefore not place reliance on these statements, particularly in connection with any contract or investment decision. The company disclaims any obligation to update these forward-looking statements, assessments, or intentions. Furthermore, neither the company nor any of its directors, officers, employees, agents, counsel or advisers nor any other person makes any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein or of the views given or implied, and accordingly no reliance should be placed thereon.

Categories: News

Tags:

CoSolvia becomes part of the Vivecti Group, backed by Nordic Capital

Nordic Capital

CoSolvia will be the tenth company to join the Vivecti Group, thus extending the range of expertise of the market-leading performance partner for healthcare providers in the fields of medical and operational technology.

As a specialized service provider for the optimization of hospital equipment, CoSolvia brings new expertise to the Group. For the Vivecti Group, this is a further logical step in the execution of its vision to comprehensively and sustainably increase the efficiency, cost-effectiveness and quality of healthcare providers.

“Over the last two decades, CoSolvia has built an excellent reputation and we are delighted to welcome CoSolvia to the Vivecti Group. With this acquisition, we will expand our portfolio with comprehensive optimization and support services for the procurement and operation of medical and operational technology,” explains Dr. Benjamin I. Behar, CEO of the Vivecti Group.

CoSolvia: A strong partner for efficiency and cost optimization

CoSolvia is a leading provider of modular services for hospitals in the fields of medical and operational technology. With intelligent and specialized approaches, the company supports hospitals in reducing costs and optimizing processes – by optimizing the device inventory and maintenance and service costs or through investment planning aligned with a clinic’s operational needs. Hence, CoSolvia’s expertise contributes directly to increasing the efficiency and competitiveness of healthcare providers.

Stronger together: future synergies

The acquisition of CoSolvia marks the next step in the long-standing, trusting cooperation between the two companies. The Vivecti subsidiary Prospitalia and CoSolvia are already cooperating successfully in the field of medical technology procurement and have created significant value for a wide range of customers. WMC has also been able to draw on CoSolvia’s expertise in selected consulting projects in the past.

“We are very proud to have CoSolvia joining Vivecti, as their expertise and range of services have already impressed us in the past,” Dr. Behar continues. “In addition, we complement each other perfectly.”

A view that Christian Somberg shares. As Managing Director of CoSolvia, he will continue to run the company together with Cord Brüning under the umbrella of the Vivecti Group. “Together, we will be able to offer hospitals even more comprehensive and effective solutions – a real win-win situation for our customers and the entire healthcare sector.”

Somberg and Brüning can both draw on many years of experience in the German healthcare sector. Christian Somberg worked for many years at Dräger, a leading international company for medical and safety technology, before becoming Managing Director of HERMED Technische Beratungs GmbH, a Fresenius subsidiary. Cord Brüning founded CoSolvia more than twenty years ago as a subsidiary of EADS in order to focus on services and consulting for technical operations in hospitals. In addition, he volunteers as chairman of the Wissenschaftliche Gesellschaft für Krankenhaustechnik e.V. (Scientific Society for Hospital Technology) to transfer know-how and promote young talent.

“The Vivecti Group is the partner of choice for us. My team and I have already enjoyed working with Vivecti to date and have shown that together we will be able to even better address our customers‘ challenges and achieve an even greater impact,” says Brüning, explaining this strategic move.

The Vivecti Group: a visionary in the healthcare industry

The Vivecti Group is known for its excellent services and innovative, technology-based solutions in the healthcare industry. With a holistic offering that focuses on the optimization and digitalization of processes ranging from procurement services and software to clinic management and specialized consulting services, the Vivecti Group currently helps more than 4,500 healthcare facilities to work more efficiently, sustainably and economically in challenging times.

With the integration of CoSolvia, the Vivecti Group is taking the next step in its mission to elevate healthcare providers’ performance to a new level through holistic approaches, innovation and partnership.

“This strategic acquisition is a win-win situation for everyone involved: our customers benefit from an even broader and more efficient range of services, and we can strengthen our contribution to a sustainable healthcare system,” summarizes Dr. Behar.

Categories: News

Tags:

Knowtion Health Completes Acquisition of Switch RCM, Strengthens Executive Team and Innovation Capabilities

Arsenal Capital Partners

Boca Raton, FL – Knowtion Health (“Knowtion”), a leading healthcare revenue cycle company, today announced it has completed the acquisition of Switch RCM (“Switch”), a data- and technology-first company that uncovers and resolves overlooked reimbursement entitlements through intelligent automation and data-driven innovation.

“This acquisition brings four new service solutions, powerful technology, and exceptional leadership that will significantly strengthen our ability to serve clients and deliver greater impact,” said Jayson Yardley, Chief Executive Officer of Knowtion. “Importantly, Switch shares our unwavering commitment to helping healthcare providers recover more earned revenue from insurance payers, especially when it comes to the most complex and challenging reimbursement opportunities.”

To support its continued growth and strategic direction, Knowtion also announced key executive leadership appointments.

  • Erica Tingley has been named President, reporting to CEO Jayson Yardley. This role is in addition to her current role as Chief Financial Officer, as she will take responsibility for delivery of the company’s solutions.
  • Jon Scala, former Chief Executive Officer of Switch, joins Knowtion as Chief Strategy Officer. Jon will focus on acquisition growth, hiring strategic new talent, and expanding client relationships. He brings extensive experience in identifying market opportunities and driving operational excellence across the revenue cycle.
  • Ryan Feldt, former President and Chief Operating Officer of Switch, transitions to Chief Customer Officer of Knowtion, bringing a client-first mindset to strengthen partnerships and elevate experience.
  • Adam Cartabiano, former Commercial Advisor to Switch, joins Knowtion as Chief Growth Officer, responsible for accelerating market expansion, driving customer acquisition, and scaling the goto-market strategy.
  • Switch co-founders Nate Pluke and Melissa Pluke will partner with Ryan Clark to launch our new innovation laboratory, where they will drive expansion of innovation, data analytics, and AI and machine learning capabilities. The innovation lab will harness the power of our data, talent, and expertise to uncover emerging trends, accelerate solution development, and deliver greater impact to providers.

“These leadership additions underscore our commitment to innovation, growth, and delivering unmatched value to our clients,” said Yardley. “Each leader brings exceptional experience in businesstransformation, and we’re excited for what’s ahead.”

“This is more than an acquisition—it’s an acceleration,” Yardley continued. Together, and with the launch of our innovation lab, we are fast-tracking the development of smarter solutions that improve financial performance for healthcare organizations.”

About Knowtion Health:

Knowtion Health is a leading provider of technology-enabled revenue cycle management services serving more than 550 hospitals nationwide and managing over $4.5 billion annually in outstanding balance accounts for clients. Recognized as an Inc. 5000 fastest-growing company, Knowtion Health is a multi-year recipient of the Black Book award, which honors top partners as ranked by healthcare providers. Knowtion Health is a portfolio company of Arsenal Capital Partners, a leading private equity firm specializing in building technology-rich, market-leading healthcare and industrial growth companies, and Sunstone Partners, a premier private equity firm focused on accelerating growth in technologyenabled services and software companies. For more information, visit KnowtionHealth.com

Categories: News

Tags:

Opus Safety secures BGF and OakNorth funding to supercharge growth

BGF

Birmingham-based Opus has achieved significant success to date, and has ambitions to continue scaling, both organically and via M&A.

17 July 2025
Opus Safety secures BGF and OakNorth funding to supercharge growth

Opus Safety Ltd, a tech-enabled health and safety, HR and occupational health solutions provider, has secured a minority investment from BGF and OakNorth, to accelerate its growth.

Birmingham-headquartered Opus Safety provides services to a broad range of SMEs nationwide. Founded by John Southall, Ian Hatherly and Tom Baverstock, it has built a strong reputation as a high-quality, tailored, solution-led partner for all things health and safety, HR and occupational health. Its proprietary Opus Compliance Cloud software solution helps clients transform and digitise their operations.

John Southall, Founder of Opus Safety, said: “This investment is a momentous milestone for the business. Since we were founded in 2022, we’ve been high-growth and laser-focused on building the best compliance consultancy in the UK, assembling a team dedicated to excellent personal service.”

Opus has achieved significant success to date, including completing four acquisitions, and has ambitions to continue scaling both organically and via M&A. Funding from BGF and OakNorth will provide acquisition firepower and facilitate continued product innovation.

“We’re delighted to be working alongside BGF, developing a partnership that will allow us to access the funding, experience and expertise we need to take advantage of the opportunities that lie ahead.”
John Southall
Founder of Opus Safety

The deal was led by David Bellis, Investor in BGF’s Midlands team, and was arranged by David Neate, Partner at Evolve Corporate Finance. Ian Fairclough, Director of Debt Finance, led the deal for OakNorth.

BGF Investor David Bellis commented: “We’re delighted to be backing an ambitious management team with a successful track record. We’ve known them for a while, they have a proven ability of delivering growth, and we look forward to supporting them on the next phase of their journey. It’s also great to work with so many Midlands advisers and funders to put a deal like this together and back a local business.”

Ian Fairclough, Director of Debt Finance at OakNorth, added: “We’re proud to support the next stage of Opus Safety’s journey, alongside BGF. This is exactly the type of ambitious, forward-thinking business OakNorth was created to empower — a high-growth, tech-enabled firm, led by an experienced team with a clear vision for the future. With a proven model and an impressive track record of acquisitions and innovation, Opus is well-positioned to scale further.”

Categories: News

Tags:

Apheon partners with Longwood for future growth

Apheon

Apheon, a pan-European mid-market private equity investor, is pleased to announce that it has acquired a majority stake in Longwood (“Longwood”, or the “Group”), a renowned Spanish distributor and provider of high value-added In-Vitro Diagnostics (“IVD”) equipment, solutions and services for public and private hospitals and laboratories. Mr. Antonio Raichs, the founder and Chairman, will remain invested in the business and support the continued acceleration  of Longwood’s development under the leadership of CEO Mr. Miguel Giralt.

Founded in 1992 by Mr. Raichs and headquartered in Zaragoza, Spain, Longwood has grown into a distributor of reference and a key player within the most innovative IVD technologies, partnering with a high-quality base of OEMs. Longwood’s solutions are primarily structured around “Next Generation Sequencing” technology, covering various core therapeutic areas, including transplant, genetics, oncology, and forensic genetics, among others. The Group’s unique business model is further rounded with specific divisions manufacturing niche proprietary products and providing in-house value-added services addressing a diversified and recurrent client base of public and private hospital laboratories primarily in Spain and Portugal. Under the vision and leadership of Mr. Raichs and Mr. Giralt, CEO since 2020, Longwood has built a reputation of combining a high value add portfolio of solutions together with an outstanding team of qualified professionals committed to providing excellent service.

Apheon has a longstanding track record of backing entrepreneurial founders and families across Europe, successfully scaling their companies internationally. Leveraging its experience of having done so in similar industries in the past, Apheon will provide Longwood with strategic guidance and capital for growth, with the goal to further expand its product offering and solutions within key therapeutic areas, also pursuing meaningful M&A to build a strong platform in Spain and abroad. Mr. Raichs and Mr. Giralt will both significantly reinvest into the Group, remaining fully committed for this new chapter of growth alongside Apheon.

Mr. Antonio Raichs, Founder and Chairman, commented, “In Apheon, I believe we found the best partner to further unlock our ambitions to grow our group and presence. We particularly appreciate their track record of partnering with founders, including having already successfully done so in similar industries in the past. We are aligned on the vision and with their partnership and expertise, we will accelerate Longwood’s growth and international development”.

Mr. Miguel Giralt, CEO, said, “We see significant potential to scale and position Longwood to meet the evolving needs of our clients, sustaining our strong focus on customer care and service quality. Through the many interactions and conversations over the past year, we believe Apheon will be a great partner, and I am delighted to have their support”.

Mr. Pablo Álvarez Couso, Partner at Apheon, added: “As entrepreneurs ourselves, we recognized Longwood’s focus on innovation and excellence, and have been impressed by its strong historical development and management team. It is a privilege to have the trust of Antonio and Miguel and the opportunity to work alongside them to bring their vision forward. The Group has evolved significantly in the past years through exceptional service and innovations, and I am confident that we can achieve our plan together”.

About Longwood:
Longwood is a reference high value-added distribution platform of IVD solutions and services for both public and private hospital laboratories. Headquartered in Zaragoza (Spain), the Group creates solutions for its clients by combining a broad range of third-party IVD equipment and test kits sourced from blue-chip international OEMs through its main operating company: Diagnóstica Longwood. The Group’s offering is centred around Next Generation Sequencing but complemented by a broad range of diagnostic technologies used across several therapeutic areas. The Group rounds its value proposition with the manufacture of niche proprietary products through BDR and in-house value-added laboratory services provided through Citogen. For more information, please visit www.dlongwood.com.

About Apheon:
Apheon is a pan-European mid-market private equity investment company managing ~€3 billion of assets from select global institutional investors and families. Apheon is characterized by its partnership approach, providing “patient and friendly capital” and industrial know-how to entrepreneurs and management teams, preparing their companies for the future. Through its pan-European footprint, the firm acts as a gateway into Europe for companies in the mid-market. Since its founding in 2005, Apheon has raised more than €3.5 billion in capital, invested in ~40 companies across Europe and completed ~200 add-on acquisitions for a total aggregate transaction value in excess of €7 billion. Apheon’s current portfolio consists of 21 companies across its target sectors, representing ~€3 billion sales and 22,000 employees. Apheon is advised by Apheon Advisors which has offices in Brussels, Milan, Madrid, Paris, Munich and Amsterdam. For more information, please visit www.apheon.com.

+++

For more information, please contact:

John Mansvelt, COO, Apheon
jm@apheon.com
T: +32 2 213 60 90

Natalia Yek, Head of Investor Relations, Apheon
ny@apheon.com
T: +39 340 18 29 313

 

Categories: News

Tags:

Advent to sell DONTE, Spain’s leading dental platform, to Ontario Teachers’ Pension Plan Board

Advent

London, 15 July 2025 – Advent, a leading global private equity investor, today announces the sale of its stake in DONTE GROUP, Spain’s leading dental platform, to Ontario Teachers’ Pension Plan Board (“Ontario Teachers’”), a global investor with a strong track record in the dental and healthcare sectors.

Since investing in DONTE in 2019, Advent has helped to transform the business into Spain’s largest oral healthcare platform. Under Advent’s stewardship, DONTE grew from a single-brand business with 150 clinics into a diversified, multi-brand leader comprising over 400 clinics across four leading brands – Vitaldent, Maex, Moonz, and Smysecret. The company has treated around 1 million patients during this time, while investing more than €40 million in clinical quality and over €35m in technological innovation, enhancing patient experience.

Ontario Teachers’ is a global investor with over CAD$266 billion in net assets and a history of strong investments in healthcare, with a global healthcare portfolio of CAD$6 billion, including Heartland Dental, PhyNet, Veonet and NVISON. The investment underscores Ontario Teachers’ confidence in DONTE’s growth trajectory and its mission to provide outstanding patient care.

Tom Allen, Managing Director at Advent, said, “We are incredibly proud to have supported the DONTE team over the past six years in building an outstanding dental platform with a relentless focus on patient care and medical excellence.”

Gonzalo Santos, Managing Director at Advent, added, “This milestone validates DONTE’s position as a market leader in Spain and sets the stage for its continued success. We are confident that Ontario Teachers’ is the ideal partner to support DONTE in its next chapter.”

Javier Martín, CEO of DONTE GROUP, said, “We are grateful for Advent’s partnership, which has been instrumental in scaling DONTE into a leading oral health platform. We look forward to this next phase of growth with Ontario Teachers’ as we expand our presence and continue delivering cutting-edge care to our patients, and we are pleased to partner with an investor with deep expertise in the sector.”

Advent has developed significant expertise and an extensive track record investing in the healthcare sector. Over the past 30 years, Advent has completed more than 50 investments across over 15 countries in areas including pharma services, medtech, healthcare services, and life sciences. Advent is committed to partnering with healthcare businesses to scale innovation, improve patient outcomes, and deliver sustainable growth.

The transaction is subject to customary regulatory approvals and its closing is expected to take place in Q4 2025.

Advent was advised by J.P. Morgan as lead financial advisor and J&A Garrigues, S.L.P. As lead legal advisor.

Media Contacts
Peter Folland
pfolland@adventinternational.co.uk

About Advent
Advent is a leading global private equity investor committed to working in partnership with management teams, entrepreneurs, and founders to help transform businesses. With 16 offices across five continents, we oversee more than USD $91 billion in assets under management* and have made 430 investments across 44 countries.

Since our founding in 1984, we have developed specialist market expertise across our five core sectors: business & financial services, consumer, healthcare, industrial, and technology. This approach is bolstered by our deep sub-sector knowledge, which informs every aspect of our investment strategy, from sourcing opportunities to working in partnership with management to execute value creation plans. We bring hands-on operational expertise to enhance and accelerate businesses.

As one of the largest privately-owned partnerships, our 660+ colleagues leverage the full ecosystem of Advent’s global resources, including our Portfolio Support Group, insights provided by industry expert Operating Partners and Operations Advisors, as well as bespoke tools to support and guide our portfolio companies as they seek to achieve their strategic goals.

To learn more, visit our website or connect with us on LinkedIn.

*Assets under management (AUM) as of December 31, 2024. AUM includes assets attributable to Advent advisory clients as well as employee and third-party co-investment vehicles.

About DONTE GROUP
DONTE GROUP is Spain’s largest dental platform, offering comprehensive oral care through its portfolio of leading brands: Vitaldent, Maex, Moonz, and Smysecret. With over 400 clinics and more than 8.5 million patients treated over more than 35 years, DONTE is at the forefront of medical excellence and patient-centric care.

Categories: News

Tags:

Perrigo Announces Agreement to Divest Dermacosmetics Business for up to €327 Million

KKR

Transaction Advances Company’s ‘Three-S’ Plan to Streamline its Portfolio and Strengthen Focus on its ‘High-Grow’ Brands

 

Total Consideration of Up to €327 Million, Consisting of €300 Million in Upfront Cash and Up to €27 Million in Potential Future Milestone Payments

 

Expected Net Proceeds to be Directed Towards Previously Announced Capital Allocation Priorities, Including Further Strengthening the Company’s Balance Sheet

 

 

Dublin, Ireland – [July 14], 2025 – Perrigo Company plc (NYSE: PRGO) (“Perrigo” or the “Company”), a leading global provider of Consumer Self-Care Products, today announced it has signed an agreement with Kairos Bidco AB, an investment vehicle managed by KKR, a leading global investment firm, to sell the Company’s Dermacosmetics branded business for up to €327 million, including €300 million in upfront cash and up to an additional €27 million contingent on the achievement of net sales milestones over the next three years. This transaction advances the Company’s Three-S plan to Stabilize, Streamline and Strengthen the organization, honing its strategic focus to invest in its ‘high-grow’, high-return opportunities. Trusted brands within this proposed transaction include ACO, Biodermal, Emolium and Iwostin.

“This transaction marks another significant milestone in the execution of our ‘Three-S’ plan,” said Patrick Lockwood-Taylor, President and Chief Executive Officer. “By sharpening our focus on core self-care categories that align with our One Perrigo model, we are enhancing our ability to drive sustainable growth and deliver greater value to consumers, customers and shareholders. We believe these brands are well-positioned to thrive under new ownership, where they can benefit from dedicated focus and investment.”

Inaki Cobo, Partner at KKR, said, “We are pleased to announce the acquisition of Perrigo’s Dermacosmetics business, home to trusted brands and high-quality products. We’ve been impressed by the talented team behind its success and the strong and loyal market reputation they’ve built. This acquisition aligns with KKR’s strategy of investing in resilient, growth-oriented consumer health platforms. We look forward to working closely with the management team to accelerate growth by leveraging our global network, operational expertise, and long-term capital, unlocking lasting value in this dynamic and important sector.”

Expected net proceeds from the transaction would be directed towards previously announced capital allocation priorities, including further strengthening the Company’s balance sheet and supporting long-term value creation.

This transaction is expected to close in the first quarter of 2026, subject to customary closing conditions, including regulatory approvals and consultation with works council. In calendar year 2024, Perrigo’s Dermacosmetics branded business generated approximately €125 million in net sales and approximately 5% of Perrigo’s 2024 adjusted operating income.

Advisors

Greenhill & Co., an affiliate of Mizuho, is serving as financial advisor to Perrigo and Latham & Watkins is serving as legal advisor.

About Perrigo 

Perrigo Company plc is a leading pure-play self-care company with over a century of experience in providing high-quality health and wellness solutions to consumers primarily in North America and Europe. As a pioneer in the over-the-counter (OTC) self-care market, Perrigo offers trusted self-care solutions that can be used without the need for a prescription, ensuring accessibility and choice for consumers across molecules, dosage forms, and value tiers.

Perrigo’s unique business model leverages its complementary businesses, where cash-generative store brand private label offerings fuel investments for leading brands, including Opill®, Mederma®, Compeed®, EllaOne®, and Jungle Formula®.

For more information, visit www.perrigo.com.

 

About KKR

KKR is a leading global investment firm with approximately $664 billion in assets under management as of March 31, 2025. KKR invests globally across private equity, credit and real assets like infrastructure and real estate, and also offers capital markets and insurance solutions. KKR follows a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and the communities in which they operate.

KKR has deep expertise across consumer health and beauty products, with recent investments including category leaders such as Karo Healthcare (subject to closing), The Bountiful Company, Wella Company, Coty, Vini Cosmetics, KDC/ONE, and Arnott’s Group.

KKR is acquiring Perrigo’s Dermacosmetics branded business through its Core Private Equity strategy.

For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com.

 

Non-GAAP Measures

 

This press release contains certain non-GAAP measures. A “non-GAAP financial measure” is defined as a numerical measure of a company’s financial performance that excludes or includes amounts different from the most directly comparable measure calculated and presented in accordance with U.S. Generally Accepted Accounting Principles (GAAP) in the statements of operations, balance sheets or statements of cash flows of the Company. Pursuant to the requirements of the U.S. Securities and Exchange Commission, the Company has provided reconciliations to the most directly comparable U.S. GAAP measures for the non-GAAP financial measures referred to in this press release.

These non-GAAP financial measures should be considered as supplements to the GAAP reported measures, should not be considered replacements for, or superior to the GAAP measures and may not be comparable to similarly named measures used by other companies.

 

Perrigo Forward-Looking Statements

Certain statements in this press release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, and are subject to the safe harbor created thereby. These statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our, or our industry’s actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by any forward-looking statements. In particular, statements about our expectations, beliefs, plans, objectives, assumptions, future events or future performance contained in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as “may,” “will,” “could,” “would,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “forecast,” “predict,” “potential” or the negative of those terms or other comparable terminology.

We have based these forward-looking statements on our current expectations, assumptions, estimates and projections. While we believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond our control, including our ability to complete the proposed divestment of the Dermacosmetics branded business, receipt of Works Councils and regulatory approval regarding the transaction, performance by counterparties to the transaction and the likelihood of satisfying the deferred payment milestones associated with the transaction, among others. These and other important factors, including those discussed in our Form 10-K for the year ended December 31, 2024 and in any subsequent filings with the United States Securities and Exchange Commission, may cause actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. The forward-looking statements in this press release are made only as of the date hereof, and unless otherwise required by applicable securities laws, we disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Perrigo Contact

 

Bradley Joseph, Vice President, Global Investor Relations & Corporate Communications,

(269) 686-3373, E-mail: bradley.joseph@perrigo.com

Nicholas Gallagher, Senior Manager, Global Investor Relations & Corporate Communications,

(269) 686-3238, E-mail: nicholas.gallagher@perrigo.com

 

KKR Contact

 

Annabel Arthur, Head of EMEA Corporate Communications,

+44 7554 919 491, E-mail: annabel.arthur@kkr.com

TABLE I

PERRIGO COMPANY PLC

RECONCILIATION OF NON-GAAP MEASURE

(in millions)

(unaudited)

Twelve Months Ended December 31, 2024

Consolidated Continuing Operations

Net Sales

Operating Income

Reported

$                4,373.4 

$                           112.9    

As a % of reported net sales

2.6  %

Pre-tax adjustments:

Amortization expense related primarily to acquired intangible assets

                              229.5

Restructuring charges and other termination benefits

                              113.4

Unusual litigation

                                54.2

Impairment charges(1)

                                88.9

Infant formula remediation

                                21.7

Gain on divestitures and investment securities

                              (28.1)

Other(2)

                                16.0

Adjusted Operating Income

$                           608.5

As a % of reported net sales

13.9  %

Adjusted Operating Income in Euros(3)

€                         562.60    

(1) During the twelve months ended December 31, 2024, we determined the carrying value of the Rare Diseases reporting unit net assets exceeded their fair value less costs to sell, resulting in a total impairment charge of $34.1 million, inclusive of a goodwill impairment charge of $22.1 million, we also determined the carrying value of the Hospital & Specialty Business net assets exceeded their fair value less costs to sell, resulting in a total impairment charge of $16.2 million, inclusive of a goodwill impairment charge of $5.4 million and we determined the carrying value of our Prevacid® branded product was impaired by $38.6 million and recorded the charge within our CSCA segment. During the twelve months ended December 31, 2023, we determined goodwill related to our Rare Diseases reporting unit was impaired by $90.0 million and recorded the charge within our CSCI segment.

(2) Other pre-tax adjustments for the twelve months ended December 31, 2024 include expenses of $14.4 million related to de-designation of interest rate swap agreements, amounts related to professional consulting fees for divestiture activity and amounts related to a foreign jurisdiction transfer tax payment. Other pre-tax adjustments for the twelve months ended December 31, 2023 include $2.3 million related to professional consulting fees for potential divestitures, $2.0 million related to an Irish VAT settlement and $0.8 million related to a foreign jurisdiction transfer tax payment.

(3) Adjusted Operating Income was translated at the average exchange rate for the 2024 calendar year of 0.9245 EUR per USD.

 

Download PDF

Categories: News

Tags: