Funds advised by Apax Partners complete purchase of remaining stake in medical diagnostics leader Unilabs
London/Geneva, 9th February 2017. Unilabs and funds advised by Apax Partners LLP announce that the purchase by Apax IX of Unilabs shares from Nordic Capital Fund VI and Apax France VII is complete and has now closed following clearance by the European Commission under the EU Merger Regulation.
On 12th December 2016, it was announced that the shareholders of Switzerland-based Unilabs had accepted an offer from private equity fund Apax IX, advised by Apax Partners LLP, for the acquisition of their respective stakes in Unilabs. As part of this transaction, Paul Hökfelt, Chairman of the Board of Directors of Unilabs, has announced his intention to retire. Succeeding him as Chairman will be Steven Dyson, Partner at Apax Partners LLP.
Steven Dyson commented: “We would like to express our gratitude to the entire board, and especially to Paul whose stewardship over the past years has helped ensure Unilabs delivered on its strategic agenda and exceeded its ambitious growth plans. We wish him well in his future endeavours. Moving forward, we are excited to continue our successful collaboration with Jos Lamers and his executive team, and to support the company’s future ambitions.”
Jos Lamers, CEO of Unilabs, commented: “I am delighted that Apax funds will continue to support our international expansion strategy to further our position as a leading European diagnostics provider, with innovative services to caregivers and patients, including laboratory diagnostics, pathology and medical imaging."
NOTES TO EDITORS:
Prior to the completion of the 12th December 2016 transaction, Unilabs was jointly owned by private equity funds Apax Europe VI, Nordic Capital Fund VI (“Nordic Capital”) and Apax France VII.
With over 112 laboratories and 43 imaging units and a broad catalogue of more than 2,500 diagnostic tests, Unilabs is one of Europe’s leading providers of clinical laboratory testing and medical diagnostic imaging services. Headquartered in Geneva, the Unilabs Group services sectors ranging from private and public healthcare providers to local governments, from pharmaceutical companies to the general public. The company employs more than 5,300 people worldwide, successfully operating laboratory and medical diagnostic imaging facilities in 12 countries, and generating annual revenues of €673m in 2015. Its network of facilities provides its customers with one of the broadest geographic footprints of any clinical laboratory and medical diagnostic services provider in Europe.
We are at the heart and start of all effective treatment decisions: www.unilabs.com
About Apax Partners LLP
Apax Partners LLP is a leading global private equity advisory firm. Over its more than 30-year history, Apax Partners LLP has raised and advised funds with aggregate commitments in excess of $48 billion*. Funds advised by Apax Partners LLP invest in companies across four global sectors of Healthcare, Tech and Telco, Services and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies. In the healthcare sector they have completed more than 80 investments, including in medical devices, pharmaceuticals and healthcare services.
For further information please see www.apax.com
*Funds raised since 1981, commitments converted from fund currency to USD at FX rates as at September 30, 2016.