Three Hills Capital Partners (“THCP”), is pleased to announce the signing of a binding commitment with Dedalus Holding’s Founder, Giorgio Moretti, to partially finance a significant acquisition announced recently by the company.
Dedalus Holding, a leading company in the international clinical healthcare software sector, has recently announced that it has submitted a firm offer and entered into exclusive negotiations to acquire part of Agfa-Gevaert's healthcare software business (the "Business"). The Business, which generates around €260 million of revenues primarily in the DACH region, France and Brazil, consists of the Healthcare Information Solutions and Integrated Care activities, as well as the Imaging IT activities that are tightly integrated into the Healthcare Information Solutions activities. THCP, an innovative investment house providing flexible capital solutions to mid-market European companies, has a deep understanding of Dedalus’ business, having originally invested in 2013 and exited in 2016 when Ardian took control of the company.
With a total turnover of €470 million, the transaction will create the European leader in the healthcare software sector with a focus on the hospital segment. The combined group will have a presence in over 30 countries and will hold a leadership position in Italy, Germany and France.
THCP Founder and Managing Partner Mauro Moretti, said: “We are thrilled to be working alongside Giorgio Moretti and his team again. We enjoyed a very successful partnership with them back in 2013-2016 and we stayed close to them following their impressive growth to become one of the world’s leading software companies operating in the healthcare space. Like with Aquafil a few years ago, and Borealis recently, this deal confirms the importance of maintaining strong relationships with entrepreneurs we have previously collaborated with and supported. To be called upon again to support these entrepreneurs because of our bespoke investment strategy is something we are particularly proud of.”
“The transaction is a transformation similar to what happened in 2016. As a result of that transaction, the company doubled its turnover thanks to the acquisition financed by THCP. Today THCP has decided, once more, to assist me in a financial operation with an industrial strategic impact for Europe. The acquisition will give an important boost to the European consolidation of the hospital software sector" - says Giorgio Moretti, Founder and Chairman of Dedalus Holding. "The need to have a European operator in a sector with very high R&D investment is a guarantee for the entire European healthcare system to be able to count on products and technologies that have now become essential to reduce clinical risk, increase the quality of care and service to the patient and optimize the growing costs for taxpayers, due to the many factors that are putting the budgets of all countries under financial stress. It is a transaction that will create the pan-European leader in the healthcare software sector, with a focus on the three largest countries in continental Europe.”
Founded in 1990 in Florence, Dedalus, with over 2,000 employees, of which 1,200 in Italy, 550 in France and teams in 25 countries, is an international industrial group in the healthcare software industry specialized in the segment of diagnostic and clinical management solutions (HCIS), GPs and Primary care management, Interoperability and Population health management.
Today, Dedalus exploits the full functional coverage of all ICT needs of any healthcare system, not limited to hospital systems, both public and private. In the last three years, Dedalus has totally renewed its offering, by addressing the state of art of paradigm in terms of technology and functionalities to anticipate the evolution of the clinical practice at the base of the change management of different healthcare system that in many countries are rethinking their organizations.
With more than €130 million of revenues in Italy, more than €60 million in France and globally more than €210 million. Dedalus is one of the leading global players in the sector and holds a leading position in Europe.