Waypoint Capital and Montagu Private Equity agree Euromedic sale - Waypoint Capital will purchase Euromedic International

2014.09.30

                    

Waypoint Capital ("Waypoint") and Montagu Private Equity ("Montagu") have agreed terms for Montagu to sell its entire holding in Euromedic International ("Euromedic" or "the Company") to Waypoint. Through its investment partnership, Ares Life Sciences, Waypoint is already the majority investor in Euromedic and will now assume full ownership.

Headquartered in Budapest, Euromedic is the leading provider of Advanced Diagnostics Imaging (“ADI”) and Cancer Care (“CC”) services in Europe. It owns and operates 144 centres across 14 countries. Euromedic’s ADI business mainly comprises magnetic resonance imaging (“MRI”) and computed tomography (“CT”) whilst also including other modalities such as ultrasound and mammography. The CC business comprises radiotherapy, including linear accelerators (“linacs”), Gamma Knife and Brachytherapy and diagnosis via Positron Emission Tomography – Computed Tomographys (“PET‐CTs”). The Company services both public patients funded by National Health Funds (“NHF”) as well as private patients funded by Private Health Insurance (“PHI”) or by the patient directly.

Commenting on the transaction, Stefan Meister, Waypoint Group COO, said: "Euromedic is a fantastic business and we are excited about its prospects and potential for further growth. Alongside Montagu and through our excellent team at Ares we have, over our period of joint investment, made significant transformations to the business, selling non-core assets, and investing for growth. With Montagu at the end of its investment cycle we saw an opportunity for further development of a business we understand and value, and so have taken the decision to take full ownership of Euromedic."

Dimitris Moulavasilis, Euromedic CEO, said: "I'm grateful to both Montagu and Ares for their investment and commitment since 2008. Over the past 6 years we have strengthened our leading position in the sector, refined our business model and continually improved our operating results. The business is undoubtedly in a stronger place today. I believe that there is still further opportunity to grow Euromedic and am delighted that Waypoint is to continue to support that through its full ownership. I and the management team look forward to working with Waypoint."

Completion is subject to customary regulatory approvals. UBS and Skadden. Arps served as financial and legal advisor, respectively, to Waypoint.

About Waypoint

Waypoint is a business enterprise for the managers and advisers of the funds and investments associated with the Bertarelli family. The group is active in two areas: Life sciences and asset management, including real estate. Chaired by Ernesto Bertarelli, Waypoint is headquartered in Geneva, with offices in London, Jersey, Boston and Luxembourg. Visit www.waypointcapital.net for more information.

About Ares Life Science

Ares Life Sciences is a healthcare-focused investment group. Its strategy is to focus on key life sciences sectors, mainly: pharmaceuticals and biotechnology, medical diagnostics, and medical technology. Ares Life Sciences has a long-term view on investments and a core element of its investment strategy is to make available to its portfolio companies the collective experience and network of its team in the healthcare sector. Ares Life Sciences' portfolio currently includes investments in Euromedic, Stallergenes, Greer Laboratories, and Esaote.