Ardian: Dedalus Holding will Agfa-Gevaert Healthcare erwerben

Kate­gorie: Deals
3. Dezem­ber 2019

Florence – Dedalus Group, a company 60% major­ity-owned by Ardian and active inter­na­tion­ally in the clin­i­cal health­care soft­ware sector, announces today that it has submit­ted a firm offer and entered into exclu­sive nego­ti­a­tions to acquire part of Agfa-Gevaert’s health­care soft­ware busi­ness (the “Busi­ness”).

The Busi­ness, which gener­ates around 260 million Euro of revenues, consists of the Health­care Infor­ma­tion Solu­tions and Inte­grated Care activ­i­ties, as well as the Imag­ing IT activ­i­ties to the extent that these activ­i­ties are tightly inte­grated into the Health­care Infor­ma­tion Solu­tions activ­i­ties. This is the case mainly in the DACH region, France and Brazil.

With a total turnover of 470 million Euro, the trans­ac­tion would create the Euro­pean leader in the health­care soft­ware sector with a focus on the hospi­tal segment. The combined group would have a pres­ence in over 30 coun­tries and would hold a lead­er­ship posi­tion in Italy, Germany and France.

“The acqui­si­tion would give an impor­tant boost to the Euro­pean consol­i­da­tion of the hospi­tal soft­ware sector” — says Gior­gio Moretti, Chair­man of Dedalus Hold­ing. “The need to have a Euro­pean oper­a­tor in a sector with very high R&D invest­ments is a guar­an­tee for the entire Euro­pean health­care system to be able to count on prod­ucts and tech­nolo­gies that have now become essen­tial to reduce clin­i­cal risk, increase the qual­ity of care and service to the patient and opti­mize the grow­ing costs for taxpay­ers, due to the many factors that are putting the budgets of all coun­tries under finan­cial stress. It would be a trans­ac­tion that would create the pan-Euro­­pean leader in the health­care soft­ware sector and with a focus in the three largest coun­tries of conti­nen­tal Europe. The group would have about 3,500 employ­ees and the compe­tences to develop an inno­v­a­tive plat­form of prod­ucts for an indus­try which needs to improve effi­ciency and inte­grated solu­tions”.

“We invested in Dedalus in 2016 to accel­er­ate the growth of the company in Europe start­ing from France, since we knew that the group had all the char­ac­ter­is­tics to be able to compete success­fully in its sector on a global scale”, declares Yann Chare­ton, Manag­ing Direc­tor of Ardian Buyout in Italy. “Dedalus’ role in the consol­i­da­tion process of the clin­i­cal soft­ware indus­try in Europe will enable the creation of a player able to compete inter­na­tion­ally in a busi­ness, which is crit­i­cal for citi­zens and coun­tries. This acqui­si­tion in the health­care tech­nol­ogy space under­pins ARDIAN’s strat­egy to support tran­si­tions of compa­nies into undis­puted lead­ers in their respec­tive markets, widen­ing their offer­ing and geographic reach with trans­for­ma­tional build-ups.”

Dedalus – Advi­sors:
M&A Advi­sor: BNP Paribas, UBS, Banca IMI
Legal Advi­sor: Clif­ford Chance
Commer­cial Due Dili­gence: EY Parthenon
Finan­cial, Tax, Oper­a­tional Due Dili­gence: KPMG
Tech­nol­ogy Due Dili­gence: Tech Econ­omy
Debt Advi­sory: Roth­schild

About Dedalus
Founded in 1990 in Florence, Dedalus, with over 2.000 employ­ees, of which 1.200 in Italy, 550 in France and teams in 25 coun­tries, is an inter­na­tional indus­trial group in the health­care soft­ware indus­try special­ized in the segment of diag­nos­tic and clin­i­cal manage­ment solu­tions (HCIS), GPs and Primary care manage­ment, Inter­op­er­abil­ity and Popu­la­tion health manage­ment.

In 2016, the Euro­pean Private Equity Fund ARDIAN acquired the 60% of the Dedalus Group boost­ing its inter­na­tional expan­sion and strength­en­ing the R&D activ­i­ties, which is now composed by more than 600 people.

Today, Dedalus exploits the full func­tional cover­age of all ICT needs of any health­care system, not limited to hospi­tal systems, both public and private. In the last three years, Dedalus has totally renewed its offer­ing, by address­ing the state of art of para­digm in terms of tech­nol­ogy and func­tion­al­i­ties to antic­i­pate the evolu­tion of the clin­i­cal prac­tice at the base of the change manage­ment of differ­ent health­care system that in many coun­tries are rethink­ing their orga­ni­za­tions. — With more than 130 million Euro of revenues in Italy, more than 60 million Euro in France and glob­ally more than 210 million Euro. Dedalus is one of the lead­ing global play­ers in the sector and holds a lead­ing posi­tion in Europe.

About Agfa-Gaev­ert
The Agfa-Gevaert Group devel­ops, manu­fac­tures and distrib­utes an exten­sive range of analogue and digi­tal imag­ing systems and IT solu­tions, mainly for the print­ing indus­try and the health­care sector, as well as for specific indus­trial appli­ca­tions. Agfa’s head­quar­ters and parent company are located in Mort­sel, Belgium. — The Agfa-Gevaert Group achieved a turnover of 2,247 million Euro in 2018.

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