The Hague, The Netherlands, June 1st, 2023: Affidea Group, the largest European provider of advanced diagnostics, out-of-hospital services and Centres of Excellence in Cancer Care and Orthopaedics, announces the successful pricing of a €170 million EUR credit facility. This recent credit line will further support the Company’s growth strategy.
Affidea, under the ownership of Groupe Bruxelles Lambert (“GBL”) since July 2022, has accelerated the execution of its growth strategy and further consolidated its position as a premier outpatient, advanced diagnostics and cancer care provider in Europe. Since GBL’s ownership, the Company has successfully completed several acquisitions with recent achievements including the acquisition of a majority stake in Brust-Zentrum Zürich (the largest integrated breast medicine group in Switzerland), the acquisition of Exploramed (a private medical centre in Romania) and 3 other bolt-on acquisitions in 2023 in Switzerland, UK and Croatia.
Affidea’s most recent expansion was in the UK with the acquisition of Schoen Clinic London (a dedicated orthopaedic hospital in the heart of London), which, together with its already existing Fortius Clinic business, creates a unique Centre of Excellence in Orthopaedics and Sports Medicine in the heart of London.
In line with the Company’s growth strategy and future funding needs, Affidea successfully raised an incremental €170m EUR Term Loan B. The incremental facility is fungible with the existing €600m EUR Term Loan B that the Company priced in July 2022.
The proceeds from the incremental Term Loan B will be used to repay drawn amounts under the Company’s existing RCF, as well as put on the balance sheet to fund future bolt-on acquisitions and growth projects.
Guy Blomfield, Affidea CEO and Chairman of the Board, stated: “We take great pride from the support of our investors, who back Affidea's growth strategy in developing the most in-demand integrated centres in the field of advanced diagnostics, out-of-hospital services and Centres of Excellence in Cancer Care and Orthopaedics. This capital raise grants us the flexibility to accelerate our ambitious growth plans and continue providing value to more than 12 million patients who annually visit our 330 centres across Europe. Affidea’s management team is delighted with the ongoing performance of the company, which has exceeded the expectations of our business plan and remains committed to delivering exceptional healthcare solutions to our patients.”
Marcus Kaeller, Affidea CFO, added: “We are delighted to have secured this new credit facility, and we are now excellently positioned to optimise our capital structure and seize the investment opportunities that lie within our markets. For us, this achievement is a strong proof of confidence in Affidea’s vision, and we are committed to accelerating our growth journey, driving synergies across our businesses, and delivering value to our shareholders and patients alike.”
The incremental EUR Term Loan B was jointly arranged by BNP Paribas, Goldman Sachs and KKR Capital Markets.