IK Investment Partners’ IK 2007 Fund is to sell GHD GesundHeits to Nordic Capital Fund VIII.
The parties have agreed not to disclose the financial terms of the transaction.
GHD, headquartered in Ahrensburg near Hamburg, is the market leader for homecare services in Germany, providing medical products and services to more than 140,000 patients.
Following IK’s acquisition of a majority stake in GHD in 2010, the company has continued to strengthen its position as an integrated provider of homecare services to patients with serious diseases. Under IK’s ownership GHD has almost doubled its sales from EUR284m in 2010 to EUR485m in 2013.
GHD’s homecare business (representing ca. 75 per cent of sales) provides services in combination with the provision of consumable medical devices that require personal consultation and explanations.
Under IK’s ownership GHD has continued to strengthen its homecare operations and has become the exclusive distributor of nutrition products from well-known suppliers, such as Nestlé and Abbott.
Over the last three years, the company’s oncology business has been developed through a number of strategic acquisitions and cooperation agreements.
Andreas Rudolph, CEO and founder, says: “The past four years have seen a period of tremendous growth for the business, moving from a market leader in homecare to a fully integrated provider of care for patients from diagnosis through every step of their treatment. We have worked very well with our shareholder IK and thank them for their support. Looking ahead, we are pleased to be entering into a partnership with Nordic Capital to support the company’s future strategic development. We have exciting opportunities to grow further through the expansion of our business, increased production capacity and in providing newly developed therapies to patients, as well as through value-accretive acquisitions. I would like to thank our management and employees for all their hard work in helping us get where we are today.”
Detlef Dinsel, managing partner at IK, says: “Under IK’s ownership, GHD has grown substantially through broadening its care services and products both in the core homecare segment as well as the new oncology business. The oncology market provides an attractive opportunity for GHD and IK has focused to develop a strong platform to capture future growth opportunities. The Company now has a nation-wide presence and network in Germany and a strong platform from which to build. Working in partnership with management, we have helped to develop the oncology segment towards a sizeable business unit over the last three years. We are proud of the role we have played in helping build a best in class care business that is highly respected across Germany by patients, key stakeholders and is a trusted partner in the healthcare system”.
This acquisition is subject to customary conditions including anti-trust approval.
