Hutton Collins has signed an agreement to invest EUR50m in Italian healthcare IT systems company Dedalus Group.
The investment will be made through a subordinated loan and a minority equity interest.
In addition, co-investors with Hutton Collins have invested EUR15m.
Dedalus Group, which has its head office in Florence, is currently the largest healthcare IT business in Italy, with revenues of around EUR70m and EBITDA of EUR17m. The company does business in 12 countries worldwide and has strengthened its position in recent years, creating an Italian healthcare ICT hub, bringing together over 30 companies in Italy and the rest of the world.
The deal with Hutton Collins will involve the purchase of stakes from outgoing equity investors, as well as financial support for an international expansion plan.
Giorgio Moretti, founder and CEO of Dedalus, says: “Dedalus products have a concrete impact on the evolution of a country’s healthcare systems and the lives of its people by improving and simplifying cooperation between local healthcare stakeholders (GPs, paediatricians, home care, etc.) and clinical and healthcare activities in hospital, optimising resources and above all significantly improving the quality of care thanks to the constant, real-time exchange of information regarding patients.
“I am sure that thanks to our new partners Hutton Collins we will have a greater opportunity to promote our innovative solutions – developed in Italy (which has one of the world’s finest healthcare systems) – in the new markets we have studied and believe are ready to welcome what we have to offer in both cultural and technological terms.”
Mauro Moretti, partner at Hutton Collins, says: “Hutton Collins bases its investment strategies on sharing growth processes with businessmen and managers who have been able to demonstrate distinctive abilities in their particular sector. This is why we are enthusiastic about the opportunity to work alongside Giorgio Moretti and Mandarin Capital in the Dedalus development project in an anti-cyclical sector such as healthcare software, which still offers ample scope for progress.”
