Healthcare is one of JBR Corporate Finance's core sectors. Over the past six months, the M&A firm has been involved in three successful acquisitions.
JBR's services to the healthcare sector are led by Caspar van der Geest. In practice, he experiences an increasing number of transactions within the industry, due in part to such diverse trends as consolidation, the growing need for specialization, regulation and pressure from insurers to operate more efficiently.
In the past six months, JBR 's Corporate Finance practice supported the acquisition of elderly care organization Compartijn, the raising of growth capital by analytics company NewCompliance and the sale of TSN Thuiszorg.
Compartijn was acquired by the combination Wonen bij September, Allerzorg and the management of both - also part of ORPEA Groupe. Compartijn provides care to - mostly demented - elderly people who can no longer live independently. With ten locations, four of which will open their doors in 2019, and several new branches in the pipeline, the company founded in 2013 is experiencing strong growth.
The buying parties will acquire 100% of Compartijn's shares from Facilicom - a company focused on facility services and care & welfare - and a group of minority shareholders. "JBR supported the management of Wonen bij September and Allerzorg throughout the entire process," says van der Geest. "From drafting a financial model, negotiating and advising on deal structuring to the list of conditions and the final purchase agreement."
A few months earlier, Mayo Clinic, InnovationQuarter and Noaber invested $3 million in NewCompliance, a company that develops innovative dashboards that provide insight into and improve safety and efficiency in hospitals throughout the entire surgical process. In the Netherlands, the company is market leader, with leading customers such as the AMC, Leiden University Medical Center, Radboudumc and Maastricht UMC+. With the help of the raised growth funds, NewCompiance wants to spread its wings further abroad, including the US.
"JBR assisted NewCompliance with the preparation of sales documentation, financial modeling and approaching potential investors," Van der Geest explains. "In addition, we guided the negotiations and advised on the transaction structure and legal documentation."
In addition, JBR assisted a childcare organization with five branches in its sale to a large national player: JBR guided the shareholders of this chain in market exploration, buyer selection and shaping the transaction.
In district nursing, JBR was involved in the transfer of TSN to Espria in 2019. Formally, the ACM has yet to approve this transaction. JBR guided the ADG group through the process up to the signing of the agreements.