Frankfurt am Main — Bird & Bird LLP has advised European private equity firm Vitruvian Partners on its investment in AI-powered healthcare platform ADA Health.
Vitruvian is an independent investment fund headquartered in London that invests in European companies with high growth potential, primarily through a focus on technology and digitalization-based business models. ADA Health, Europe’s “Hottest Health Start-up 2018,” offers the world’s leading health app, “Ada,” which identifies appropriate next steps for potential proper medical treatment for users, as well as B2B users such as health insurers and healthcare providers. The ADA app is AI-powered; it has been available for download worldwide since 2016 and has so far ranked first in the medical app space in over 130 countries.
Vitruvian has invested in ADA Health through a Series B Growth Financing to provide additional growth capital to the company, along with its founding shareholders and existing investors, including through a capital raise. This is intended not only to further expand ADA Health’s existing market position in Germany, but also to enable further roll-out internationally.
The transaction has already been completed. The parties have agreed not to disclose the size of the growth investment.
Vitruvian Partners was advised by the following Bird & Bird attorneys: Partner Dr. Hans Peter Leube, LL.M., Lead, and Associates Marianne Nawroth, Dr. Ann-Kristin Asmuß (all Corporate/M&A, Frankfurt) and Inga Kerner (Corporate/M&A, Munich), Partner Dr. Fabian Niemann and Associate Dr. Nils Lölfing (both IT and Data Protection, Düsseldorf), Counsel Lea Mackert, LL.M. and Associate Dr. Juliane Kliesch (both IT and Commercial, Düsseldorf), Partner Dr. Alexander Csaki and Counsel Christian Lindenthal, LL.M. (both Healthcare Regulation, Munich), Partner Dr. Barbara Geck (Labor Law, Frankfurt) and Associate Florian Keßenich (Labor Law, Hamburg).
This advice demonstrates once again that Bird & Bird’s particular experience in the technology sector is meeting with strong and growing demand in the legal market, and increasingly so in private equity advice. This is because the firm is exceptionally well positioned, particularly in this area, when it comes to advising on investments in companies where data and data protection, regulation and digitalization issues play a major role and which thereby achieve a significant innovation boost for the respective industry. Peter Leube has already advised Vitruvian on several transactions and refinancings in the health and healthcare sector, among others, such as the partnership with the doctari group.
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Notes for the editor
Bird & Bird is an international law firm that advises in particular companies and institutions that are shaping and being changed by new technologies and digitalization. We combine world-class legal expertise with deep industry knowledge and a refreshingly creative mindset to help clients achieve their business goals. We have over 1,300 lawyers in 29 offices in Europe, the Middle East, Asia Pacific and North America, and maintain close relationships with law firms in other parts of the world. To learn more about us, visit www.twobirds.com.