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Ardian: Dedalus Holding to acquire Agfa-Gevaert Healthcare

3. Decem­ber 2019

Florence — Deda­lus Group, a company 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 euros 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 euros, 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 euros of reve­nues in Italy, more than 60 million euros in France and globally more than 210 million euros. Deda­lus is one of the leading global play­ers in the sector and holds a leading posi­tion in Europe. www.dedalus.eu

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 euros in 2018. www.agfa.com

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