3i and N.I. Partners invest in Vedici
3i, and funds managed by 3i, together with N.I. Partners, the private equity division of the NATIXIS group, today announce they have signed an agreement to invest in Vedici, the 5th largest acute care company in France. The investment will strengthen Vedici's balance sheet and accelerate its growth strategy which has been the driving force behind its success over the past few years.
The two investors will become shareholders alongside the founding directors. The Apax funds and Altamir Amboise, which have been invested in Vedici since January 2006, will sell their stake.
Vedici has become a major player in private hospital care in France in recent years. Over the space of four years, the group has grown from 6 to 23 centres, offering 2,650 beds today, and its annual turnover has grown from ¤65 million to ¤280 million.
Today's investment represents a new step in the group's development. It will provide the business with additional resources to accelerate its growth strategy, as it aims to double its size over the coming years.
3i has considerable experience in the healthcare sector through its dedicated global sector team. Healthcare investments include Labco (a network of medical analysis laboratories, France), Quintiles (outsourced pharmaceutical R&D, USA) and Axellia (formerly Alpharma API, a manufacturer of pharmaceutical products, Norway). In addition, 3i recently successfully sold its stake in Ambea (leading private provider of healthcare and care services across the Nordic region) to Triton for ¤850m.
N.I. Partners also has wide-ranging experience in the healthcare sector, notably with investments in Ceva (a veterinary pharmaceutical laboratory, France) and Labco (a network of medical analysis laboratories, France).
The deal is subject to the approval of the competition authorities.
Founded in 2000 by its current directors, Jérôme Nouzarède, and Doctor Michel Bodkier, Vedici is today one of the principal players in acute care in France. The group owns 23 centres, most of which are located along a line stretching from Paris to southern / south-western France. The business employs 5,000 people and has a total capacity of 2,650 beds.
About Altamir Amboise
Altamir Amboise is a listed private equity company, targeting NAV per share growth in line with the top-performing private equity players.
Altamir Amboise co-invests with the funds managed by Apax Partners SA, a leading private equity firm with over thirty years of investing experience.
Altamir Amboise offers investors access to a diversified portfolio of fast-growing companies across Apax's sectors of specialisation: Technology, Telecom, Retail & Consumer, Media, Healthcare, Business and Financial Services.
Altamir Amboise is listed on Euronext Paris, Compartment B, ticker: LTA, ISIN code: FR0000053837. It is listed in the CAC Small 90 and SBF 250 indices. The total number of Altamir Amboise ordinary shares in circulation at 31 December 2009 was 36,512,301.
For further information: www.altamir-amboise.fr
Agathe Heinrich - Marketing Director
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Marie Ployart - Financial Communications
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