Antin Infrastructure Partners to acquire amedes Group

amedes Group, one of the leading providers of medical diagnostic services in Germany and Belgium, will continue its successful growth trajectory under new ownership. General Atlantic has agreed to sell its majority stake in amedes Holding AG to Antin Infrastructure Partners (“Antin”). The purchase price was not disclosed. The transaction is subject to approval by the competition authorities. 

With 35 laboratories and 27 practices across Germany and Belgium, amedes Group offers interdisciplinary and medical-diagnostic services for patients, medical practitioners, clinics and other institutions. Every day, it evaluates over 150,000 lab samples using state-of-the-art technology. With 3,500 employees – including more than 365 doctors and technical assistants – amedes is one of the leading lab diagnostics companies in Germany. 

Matthias Störmer, CEO of amedes Group, said “With its strong track record of investing in businesses and supporting growth objectives, we are pleased to welcome Antin as a long-term partner. We look forward to working closely with them as we continue to expand our best-in-class diagnostic and lab services for the patients, doctors, and hospitals that depend on us. We thank General Atlantic, our company founders Helmut Wagner and Werner Stibbe and the other shareholders for supporting our growth course with their capital and know-how for so many years.” 

“We are pleased to be partnering with amedes – an industry leader with a commitment to quality and innovation in diagnostic testing,” said Angelika Schöchlin, a partner at Antin who led the transaction. “Given the importance of high-quality diagnostic services to the healthcare industry, we believe that amedes is well positioned for continued growth and we look forward to working with the management team to help take the company to the next level. We have long identified the laboratories sector in Germany as a highly attractive and resilient B2B market. The market has good growth prospects due to the growing importance of diagnostics, the increase of chronic diseases and an ageing society. The sector exhibits very robust social infrastructure characteristics. It provides an essential service with laboratory testing in Germany channelling c. 70% of the healthcare spend, with an increasing focus on diagnostics and prevention in medical analyses rather than treatment.” 

General Atlantic acquired a majority stake in the wagnerstibbe laboratory chain in December 2007, developing it into the amedes Group together with the original founders. Since then, the company has more than tripled its revenue. In addition to achieving strong organic growth, the company has strengthened its business portfolio through over 30 acquisitions, most recently through the acquisition of MediVision in 2014. Further milestones in recent years include the entry into the Belgian market through the acquisition of Laboratoire Luc Olivier in 2010, as well as the integration or establishment of more than ten labs and healthcare centres (“Medizinische Versorgungszentren”, MVZ). 

“We are proud of our strong partnership with amedes over the past eight years, as it has grown to become a partner of choice to the German healthcare community due to its commitment to breadth of services and commitment to quality.” said General Atlantic’s Germany head Jörn Nikolay. “We are pleased that they have found a strong new partner in Antin, who will support the company’s next phase of growth.” 

Antin was advised by DC Advisory, FTI Consulting, Latham & Watkins, KPMG and Abolon. General Atlantic was advised by Goldman Sachs, Freshfields Bruckhaus Deringer, GleissLutz, Boston Consulting Group, PricewaterhouseCoopers and WTS. Financing for the transaction is being arranged by Goldman Sachs, Nomura and Crédit Agricole.

About amedes Group 

With 3,500 employees, amedes is one of the largest German companies offering interdisciplinary medical diagnostic laboratory services for patients, office-based physicians, and hospitals. The complete range of services extends from laboratory medicine and microbiology to cytology and pathology. amedes provides modern, scientifically validated, and efficient diagnostics with the highest level of quality. For more information, please visit www.amedes-group.com. 

About Antin Infrastructure Partners 

Antin Infrastructure Partners is a leading, independent investment fund specialising in investments in Social, Energy, Transport and Telecom infrastructure in Europe. Antin was founded in 2007 and is a truly European firm with offices in Paris, London and Luxembourg. The company is wholly owned by its eight partners and has a team of 44 professionals comprising 19 nationalities. Antin has more than €3 billion of assets under management and investments in 11 companies across Europe. Antin seeks to deliver value through an active approach to asset management whereby it works closely with management to grow the business whilst ensuring the highest standards of service quality and health and safety conditions. 

About General Atlantic 

General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Established in 1980, General Atlantic combines a collaborative global approach, sector specific expertise, a long-term investment horizon, and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to build exceptional businesses worldwide. General Atlantic has more than 100 investment professionals based in New York, Amsterdam, Beijing, Greenwich, Hong Kong, London, Mexico City, Mumbai, Munich, Palo Alto, São Paulo, and Singapore. For more information, please visit www.generalatlantic.com.