Three Hills Capital Partners partially finances Agfa-Gevaert’s healthcare business deal

Healthcare technology

Three Hills Capital Partners has completed a EUR67 million investment round to partially finance the acquisition of Agfa-Gevaert’s healthcare software business by Dedalus Holding.

Because of THCP’s financial support, the founder and chairman of Dedalus, Giorgio Moretti, will retain 25 per cent in Dedalus Holding.

“This closing represents a key milestone in Dedalus' growth trajectory to become one of the global leaders in the healthcare sector which is, more than ever today, a key pillar of our society,” said THCP founder and managing partner Mauro Moretti. “Having been selected again by Giorgio as his partners of choice, just as we were in 2013, means we are doing something right in terms of delivering non-invasive, but still supportive, capital to outstanding managers.”

The deal will create a total combined turnover of EUR 470 million for the group and a focus on the hospital segment. The combined group will have a presence in over 30 countries and will be one of the largest in the healthcare software sector in Italy, Germany and France following the transaction.

THCP said it has a deep understanding of Dedalus’ business, having previously invested in 2013 and exited in 2016 when Ardian took control of the company.

THCP has maintained a relationship with Giorgio Moretti since 2016, thereby being able to provide financial support in this next phase of the company's growth, according to the firm.

“I have a long relationship with THCP, which started in 2013. The flexibility of THCP's instruments has permitted, once again, to operate in an appropriate context for all stakeholders, including Ardian, which is the financial partner of the Dedalus Group,” commented Giorgio Moretti.