Abolon Transactions

In a significant stride towards enhancing access to advanced cancer treatment, Amethyst Radiotherapy Group has secured a landmark €300 million financing agreement with Credit funds managed by Ares Management Corporation (“Ares”), a leading global alternative investment manager. This investment positions Amethyst as a leading player in the European oncology sector, as it continues to accelerate its expansion. The facilities secured will support strategic acquisitions and capacity enhancement, positioning Amethyst firmly among the frontrunners to redefine the European cancer treatment landscape. Abolon’s prepared the commercial vendor due diligence of Amethyst for the successful refinancing, highlighting once more Abolon’s strong expertise in diagnosing and treating oncological diseases. With separate teams, Abolon advises clients on corporate and financing transactions incl. commercial due diligence, vendor due diligence, strategy development and M&A/corporate finance. Our clients benefit from our experience after more than 200 C(V)DD projects and M&A transactions.

Abolon has been the adviser to the shareholders of COAT-X, Switzerland, on its sale to the French surface functionalization and protection solutions provider Plasmalex group. The transaction has been closed on 25 April 2024. It was agreed not to disclose the purchase price. COAT-X is a leading solutions provider for high performance thin-film encapsulation technologies. The offering includes a broad range of parylene, ultra-tight multilayer and ALD barrier contract coating solutions and equipment to various industries ranging from medical technology over electronics to micromechanics.

Abolon acted as the advisor to the shareholders in the sale of the “Haus auf der Hardt” reintegration facilities to puravita GmbH. The transaction was completed in mid-April 2024. It was agreed not to disclose the transaction value. The “Haus auf der Hardt” is a specialized service provider for reintegration assistance in Nümbrecht, North Rhine-Westphalia. Coverage includes care for inpatient and outpatient individuals. The facilities include the ‘Haus auf der Hardt’ dormitory with both open and closed areas as well as outpatient care for people with physical restrictions.

Abolon was the exclusive advisor to the shareholders of THIS AG on its sale to Rayner, a global leader in products for cataract surgery, headquartered in the UK. The acquisition closed today, 17th January 2024. It was agreed not to disclose the purchase price. Rayner announced today that it has entered into a definitive agreement to acquire Switzerland-based THIS AG, the inventor, developer and manufacturer of Sophi phaco emulsification machines. Sophi (Swiss Ophthalmology Innovation) is an innovative phaco technology providing mobility, simplicity, and safety within the operating theatre. With advanced features including triple pump fluidics, active IOP control, clean venturi and day cassette, cable free power supply and wireless communication, Sophi presents a truly advanced surgical system. The acquisition will enhance Rayner’s breadth of high-quality products for cataract surgery, enabling provision of a full offering also encompassing IOLs, OVDs, eye drops, pharmaceuticals, digital tools, and single-use recyclable instruments.

Abolon was the exclusive advisor to the shareholders of VITAL Zahnärzte dentistry group on its sale to one of the 3 largest European oral care organizations. The transaction was completed in early October 2022. It was agreed not to disclose the transaction value. VITAL Zahnärzte consist of 3 dental clinics in Southern Germany, leading Southern Germany in size. The group offers the full range of dentistry services with a focus on high-quality treatment, fully digitalized processes, local lab support in each practice and patient-friendly opening hours.

Abolon has introduced Halder, a leading German investment company into DACH mid-size companies, to the Helios Klinik Volkach situation and acted as an adviser on this acquisition through an investment vehicle founded by Halder. Alongside the hospital, previously the district hospital, two partner policlinics (‘MVZs’) have been part of the transaction. The transaction has been signed in early September 2021. The transaction value has been agreed to be kept confidential. Klinik Volkach is a SGB V, §108, clinic listed in the state hospital plan (‘Landesbettenplan’). The hospital has increasingly focused on orthopaedic surgery.

The Renaissance Investment Foundation has become a majority shareholder in Baitella AG. Together with the management, Renaissance will develop the globally successful quality products for medical applications under the “Fisso” brand. Baitella AG was founded by Carlo Baitella in 1978 and, with its Fisso products, is the world’s leading supplier of high-quality articulated tripods. The company supplies both the medical and industrial segments with articulated tripods and accessories in standard and customer versions. Abolon has advised Renaissance investment with a team of specialist advisors on this transaction.

Abolon has been the exclusive adviser to Medipart AG, Switzerland, (“Medipart”) on the sale of its majority stake in the share capital of Actiol GmbH (“Actiol” or the “Company”) to an international investor group. The transaction has been closed end of June 2021. The transaction value has been agreed to be kept confidential. Actiol is a stock corporation with registered office in Amöneburg, Germany. The Company is active in development and manufacturing of ophthalmic biomaterials, particularly acrylic IOL polymers.

Abolon was the exclusive adviser to Armira, a leading investment holding and family office, on its investment in PflegeButler group. PflegeButler is a highly successful and rapidly growing alternative outpatient care provider, offering superior value to clients by combining assisted living and a range of innovative care services. The company currently operates 9 facilities in Lower Saxony and plans to expand rapidly. The transaction was announced two weeks ago. Armira’s investment will be used to accelerate the growth of the group, initially in Lower Saxony through the development of greenfield facilities. Abolon served Armira with a dedicated team of specialised advisers, building on numerous projects in the care sector throughout Europe during recent years.

A Nordic supplier of assistive devices to people with special needs, has acquired a leading patient handling company in the DACH region. The acquired business is a specialist in the development, production and distribution of patient transfer products and a well-known and respected supplier to nursing homes, hospitals and the homecare sector. For the acquirer, Germany is an important market that offers opportunities for further growth across the group’s product and service portfolio. The acquired business’s products will become part of the international offering of the Nordic mobility player. The purchase price was agreed to be kept confidential. Abolon acted as the exclusive advisor in the transaction process to the sellers of the patient handling company.

VITAL Zahnärzte today signed sales and purchase agreements with the entities comprising the ARS Dentalis group of dentistry practices and dental laboratories. The transaction was announced this morning and is subject to the usual approval procedures. The purchase price was not disclosed. The ARS Dentalis practices will be renamed VITAL Zahnärzte. With 4 large dental clinics in Southern Germany, the group offers the full range of dentistry services with a focus on high-quality treatment, fully digitalized processes, local lab support in each practice and patient-friendly opening hours (365 days per year). VITAL Zahnärzte intend to expand their large-practice, dentist-friendly model (“developed by dentists for dentists”) to other locations over the coming years. Abolon advised VITAL Zahnärzte, building on Abolon’s expertise in M&A, financing, insolvency procedures and dentistry. This transaction follows other successful Abolon transactions in the UK/European out-patient healthcare practice sector incl. Amethyst Radiotherapy (radiotherapy, 2019), RADx (diagnostic imaging, 2017), Dr. Hansen (dentistry, 2016), Corius (dermatology, 2016), Alanta/Zytoservice (oncology, 2016), Amedes (medical labs/gynaecology/IVF, 2015) and Medica Group (teleradiology).

Abolon was the exclusive adviser to The Rohatyn Group (“TRG”), an emerging markets focused asset management firm, on its investment in Amethyst Radiotherapy, obtaining co-control of the Company alongside the two co-founders. Amethyst is one of the largest operators of radiotherapy clinics in Europe and provides radiotherapy treatment for most types of common cancers. The transaction was announced yesterday. Amethyst operates centres across France, Romania, Italy, Poland and Austria, treating over 10,000 patients annually. TRG’s investment will be used to accelerate the growth of the Company across Europe through the roll-up of clinics, the development of greenfield centres and outsourcing partnerships with hospitals. Radiation therapy (also called radiotherapy) is a cancer treatment that uses high doses of radiation to kill cancer cells and/or to slow down their growth by damaging their DNA. Abolon served TRG with a dedicated team of its specialised advisers, building on numerous projects in the broader radiotherapy & radiology space during recent years.

Abolon has been the exclusive adviser to Medipart AG, Switzerland, (“Medipart”) which has signed a share purchase agreement on 30th August 2019 to sell its stake of 73.4% in the share capital of HumanOptics AG (“HumanOptics” or the “Company”) to a Chinese investor. The closing of the sale is subject to customary closing conditions, including approval by the Chinese public authorities. HumanOptics is a listed stock corporation with registered office in Erlangen, Germany. The Company is active in the development, manufacturing and distribution of implantable premium intraocular solutions. The Company’s shares are listed in the open market of the Frankfurt Stock Exchange. Its market capitalisation was € 56.5 million as of 29 August 2019, pre announcement of the transaction. Abolon AG is a healthcare-focused advisory firm with a long track-record in medical devices transactions. This transaction follows a series of transactions involving publicly listed entities including Sigvaris’ acquisition of compression stockings business Pani Teresa Medical (Warsaw stock exchange) and WaveLight’s (German stock exchange) sale of its urology laser unit.

Abolon was mandated by Afinum, the DACH-based private equity firm, on its acquisition of a majority stake in Swiss biotech company evitria, which provides custom antibodies for research purposes. evitria has been conducting more than 30,000 transfections and has been producing more than 5,000 different antibodies to date. The company’s success is based on a unique, highly standardized and automatized production process that minimizes throughput times and guarantees high concentrations and quality levels, thereby perfectly addressing its customers’ need for specific, tailor-made antibodies. Its business model has allowed evitria to build a reputation of a superior biotech specialist and trustworthy outsourcing partner. The transaction has been closed today. The enterprise value was not made publicly available. Abolon was exclusively mandated by Afinum.

Abolon was mandated by Trimb Healthcare, the rapidly-growing OTC and consumer healthcare company with products sold in over 60 countries, on its recent acquisition of Bioclin, a leading intimate healthcare company based in the Netherlands. Trimb has announced the transaction. The transaction value was not disclosed. The BioClin portfolio includes several well-known, all-natural brands that are rapidly growing and today are sold in pharmacies and drugstores in over 60 countries worldwide.

Kontivia has acquired a majority participation in Brütsch Elektronik, a Switzerland-based development and production (CDMO) service provider to medical device OEM customers (www.kontivia.com/images/uploads/webseite/Medienmitteilung_neue_Partnerschaft_Bruetsch_Elektronik_und_Kontivia.pdf) Brütsch’s core competences are the company’s high innovativeness, integrated project expertise across electronics, mechatronics and software solutions as well as its strong regulatory knowhow in launching products and maintaining product registrations. The transaction value was not disclosed. Abolon was exclusively mandated by Kontivia.

EMERAN has committed EUR 14m to support Dr. Hansen Zahnärzte to grow its German presence. The valuation of Dr. Hansen Zahnärzte was not disclosed. Dr. Hansen operates 6 dentistry practices in Germany and Spain.

Ufenau acquires DermaClinUfenau Capital Partners successfully acquired the DermaClin Holding AG (“DermaClin”). DermaClin represents a highly specialized and renowned clinic for minimal invasive neurosurgery treatments and will serve as platform to execute a systematic Buy-&-Build strategy in the highly attractive and fragmented market of outpatient dermatology and minimal invasive services. The platform was founded in 1991 and treats more than 6’500 patients annually.

In January 2017, RAD-x, a pan-European diagnostic imaging platforms at the forefront of the outpatient radiology market consolidation in France, Germany and Switzerland backed by Gilde Healthcare, acquired Geneva-based IRD SA, a leading diagnostic imaging provider. The parties have agreed not to disclose the purchase price. Abolon acted as commercial due diligence advisor to Gilde Healthcare and RAD-x.

In December 2016, Dietz, a Germany-based provider of rehabilitation and care products, acquired 60% of Eureha, one of the leading manufacturer of bathlifts in the world. The parties have agreed not to disclose the purchase price. Abolon’s M&A team acted as exclusive M&A advisor to the owners of Eureha. The DME (durable homecare market) is one of Abolon’s key area of expertise and Abolon has successfully been involved in numerous transactions during recent years.

In November 2016, IK Investment Partners, a European private equity firm, acquired ZytoService Group, a leading compounder of pharmaceuticals for patient-individualised infusions, from the founders and Capiton. ZytoService is, through the acquisition and greenfield opening of outpatient oncology practices, also the largest focused oncology practice group in the DACH region. The parties have agreed not to disclose the financial terms of the transaction. Abolon acted as exclusive commercial due diligence advisor to IK Investment Partners.

In December 2015, SIGVARIS Group, a world-leading manufacturer of medical compression textiles, has acquired Pani Teresa Medica (PTM), the market-leading Polish manufacturer of medical textiles. SIGVARIS subsequently took PTM off the Warsaw Stock Exchange Abolon acted as the M&A advisor to SIGVARIS Group.

In October 2015, Charterhouse Equity Partners, a London-based private equity firm, acquired the leading French over-the-counter (OTC) products company Cooper (Cooperation Pharmaceutique Francaise) from Caravelle. The parties have agreed not to disclose the purchase price. Abolon acted as commercial due diligence advisor to Charterhouse Equity Partners.

In July 2015, Antin Infrastructure Partners, a Paris and London based infrastructure fund, acquired Amedes Group, the second-largest medical laboratory group in Germany, from private equity investor General Atlantic. The purchase price was not disclosed. The transaction is subject to approval by the competition authorities. Abolon acted as the exclusive commercial due diligence advisor to Antin

In June 2015, Nordic Capital acquired Sunrise Medical, a world leader in the development, design, manufacturing and distribution of adult manual wheelchairs and seating and positioning products. With the addition of Sunrise Medical, Nordic Capital makes another investment in the high quality mobility products and services sector. The parties have agreed not to disclose the purchase price. The transaction is subject to approval by the anti-trust authorities. Abolon acted as commercial due diligence advisor to Nordic Capital.

In November 2014, EQUITA Management has, alongside management, acquired a majority stake in Windstar Medical, a developer of non-prescription health products, marketed by Windstar in the mass-market channels (drugstores, supermarkets). The company is active in the DACH region and some other markets. The effective transfer of ownership is expected to occur on December 15, 2014. The existing management team will continue to manage Windstar Medical, with the company’s founders retaining a significant stake. Abolon supported EQUITA Management on selected aspects of the commercial due diligence.

Duke Street, the mid-market private equity group, has acquired Air Products’ Homecare operations in the UK and Ireland. The business delivers oxygen-therapy, sleep apnoea therapy and non-invasive ventilation therapy services to patients in the home across 3 regions in the UK and the whole of Ireland. The consideration has not been disclosed. Led by CEO Adam Sullivan and the former Air Products Homecare management team, the Crewe, UK headquartered business will be rebranded Baywater Healthcare following completion. Douglas Quinn, the former CEO of Paragon Healthcare (now Voyage and formerly a Duke Street portfolio company), joins the business as Chairman. Commenting on the transaction, Charlie Troup, a partner at Duke Street, said: “This transaction represents an exciting opportunity to acquire a high-quality but non-core healthcare business from a global industrial group. We have significant experience of the healthcare services sector, which we see as well suited to the Duke Street approach to company development, and we see exciting opportunities to build on Baywater’s position as a provider of high quality services to patients in their homes. The firm remains keen to back strong management teams in pursuing organic growth and operational improvements, as well as acquisition-led growth.”

In July 2013, the Management of OmniaMed Deutschland GmbH and Omnia-Med Ltd., the Germany and UK based companies engaged in providing online medical education, acquired the company in a management buyout transaction, backed by Deutsche Private Equity GmbH (DPE), the Germany-based private equity firm, from MC Holding Corporation, the US based provider of medical education, for an undisclosed consideration. The management team is led by Martina Schreck and Jonathan Morely. The transaction is in line with DPE’s investment strategy to invest in the sector and will also help the future growth and development of OmniaMed Deutschland GmbH and Omnia-Med Ltd.

In September 2012, Ardian (previously known as Axa Private Equity) completed the acquisition of Riemser Pharma, the specialty pharma business from the owners and funds managed by TVM and GE Capital. Abolon’s M&A team had been mandated by Ardian alongside Abolon’s commercial DD team on this transaction. Riemser Arzneimittel generated annual revenues of EUR 100m in 2011 and has 500 employees. With this transaction, Ardian will be supporting Riemser’s strategy of continued specialization and internationalization.

  Zeneus GmbH, Germany based healthcare provider group, has acquired Fachklinik für Amputationsmedizin Osterhofen GmbH, the Germany based amputation surgery and rehabilitation specialty clinic, for an undisclosed consideration. Abolon acted as advisor to Zeneus. As a part of the transaction, 110 employees of the clinic will be transferred, and Zeneus is expected to develop and expand the specialist clinic as well as invest continuously over the next five years.

In September 2007, roha arzneimittel GmbH, the Germany based nutritional ingredients company, acquired Boerner Arzneimittel GmbH, the Germany based manufacturer and distributor of pharmaceuticals and cosmetic products, for an undisclosed consideration. Abolon initiated the transaction and acted as advisor to roha arzneimittel. roha expects a turnover of EUR 40m for the year 2007. The acquisition will strengthen roha’s position as a distributor and manufacturer of health products. Post acquisition, Boerner’s employees will be headed under roha arzneimittel GmbH.

In January 2007, Drive Medical Design & Manufacturing, the US based company engaged in the manufacture and distribution of durable medical equipments, sold Peter Endres GmbH & Co. KG, the Germany based manufacturer and distributor of bath lifts and patient aids, from Otto Bock HealthCare GmbH, the Germany based supplier of prosthetic and orthotic devices (also engaged in manufacturing mobility and seating devices for disabled adults), for an undisclosed consideration. Abolon acted as advisor to Otto Bock.

In July 2006, the Management of urology laser division of WaveLight AG, the listed Germany-based company engaged in the development, production, marketing and sales of laser systems, acquired the company in a management buyout transaction, backed by BayBG Bayerische Beteiligungsgesellschaft mbH, the Germany based venture capital firm, and S-Partner Kapital AG, the Germany based private equity firm, for an undisclosed consideration. Abolon acted as advisor to WaveLight AG. The management team was led by Werner Falkenstein, division manager of WaveLight. Post acquisition, urology laser division will be renamed as StarMedTec GmbH and Werner Falkenstein, division manager of WaveLight, will continue as CEO of StarMedTec.

In June 2006, Merz Pharma GmbH & Co. KGaA, the German healthcare company, acquired Denfleet Pharma Ltd, the UK based pharmaceutical company, for an undisclosed consideration. Abolon initiated the transaction and acted as advisor to Merz Pharma Merz intends to use Denfleet’s capability and strong hospital presence, especially in the CNS area, as a platform in the UK. The acquisition is in line with Merz’s strategy to expand its presence in Europe.