Nordic Capital acquires GHD GesundHeits GmbH Deutschland, Germany’s market leader for homecare services
June 19 2014
Nordic Capital Fund VIII ("Nordic Capital") has reached an agreement to acquire a majority stake in GHD GesundHeits GmbH Deutschland ("GHD") from existing shareholders including majority owner IK Investment Partners. Founder Andreas Rudolph will remain CEO and a significant shareholder in the company.
GHD is the market leader for homecare services in Germany, providing medical products and services to more than 140,000 patients. With over 1,700 employees, GHD operates as a truly integrated homecare provider including production of its own medical supplies and compounded pharmaceuticals, and strong wholesale and logistics activities. The company operates in the German healthcare market, which is characterised by positive long-term development driven by demographic trends. Since its inception in 1992, GHD has developed strong relationships with relevant decision-makers, such as hospitals, doctors, nursing homes and statutory health insurers, as well as policy-makers in its relevant homecare and oncology markets. The company is headquartered in Ahrensburg, near Hamburg, and had revenues of EUR 485 million in 2013.
GHD's homecare business provides services in combination with the provision of consumable medical devices that require personal consultation and explanation. GHD does this through an unparalleled network of 1,100 nurses and trained medical staff working in eight branches across Germany. In addition, GHD is a leading producer of custom-made infusion solutions for cytostatic drugs and parenteral nutrition for the oncology market. The company operates through a network of certified state-of-the-art production facilities across Germany.
Nordic Capital Funds have substantial experience in the healthcare industry through several current and former portfolio companies. In the German medical homecare space, the Nordic Capital Funds have been active notably through investments in companies such as Convatec, Atos Medical and Permobil.
"We look forward to continuing GHD's positive development together with Nordic Capital, which has an outstanding track record in the healthcare space. Nordic Capital will provide this industrial expertise along with financial resources to support further growth. This will also benefit our customers, patients, employees and partners", says Andreas Rudolph, CEO and Founder.
"This investment lies at the heart of Nordic Capital's strategy as a leading private healthcare investor in Europe. Nordic Capital sees GHD as a very attractive and well developed platform to participate in further growth within homecare and adjacent healthcare areas. GHD and its management have a track record of successfully growing both within existing segments as well as by developing new business areas, both organically and through acquisitions which will be further enhanced under Nordic Capital ownership", says Joakim Lundvall, Head of Germany, NC Advisory GmbH, advisor to the Nordic Capital Funds.
The acquisition is subject to approval by the relevant authorities. The parties have agreed not to disclose the financial terms of the transaction.
Katarina Janerud, Communications Manager
NC Advisory AB, advisor to the Nordic Capital funds
Tel. +46 8 440 50 69
GHD GesundHeits GmbH Deutschland
Tel. +49 4102 51 67-0
The GHD GesundHeits GmbH Deutschland is Germany's largest provider of homecare services, offering integrated, high-quality care for customers and patients. Established in the German healthcare market since 1992, there are currently more than 1,700 staff members responsible for some 3,000 out-patient and in-patient customers as well as more than 140,000 patients. The expertise of GHD is based on the five pillars of Production, Logistics, Homecare/Service and Pharmaceuticals Service and Distribution. For more information please see www.gesundheitsgmbh.de/en
Nordic Capital private equity funds have invested in mid-market companies primarily in the Nordic region since 1989. Through committed ownership and by targeting strategic development and operational improvements, Nordic Capital enables value creation in its investments. Nordic Capital Funds invest in companies in northern Europe and in selected investment opportunities internationally. The most recent fund is Nordic Capital Fund VIII with EUR 3.5 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Funds are based in Jersey, Channel Islands, and are advised by the NC Advisory companies in Sweden, Denmark, Finland, Norway, Germany and the UK. For further information about Nordic Capital please see www.nordiccapital.com