Germany-based medical software provider CompuGroup Medical has signed an investment agreement with CVC Capital Partners (CVC) and GT1 Vermögensverwaltung (GT1).
CVC is a Luxembourg-based private equity and investment advisor, with assets under management worth around €186bn and secured commitments worth €157bn.
GT1 is a Germany-based asset management firm providing financial and investment services and is a majority shareholder of CompuGroup.
Under the terms of the agreement, a holding company controlled by affiliates of CVC will complete a voluntary public tender offer for all outstanding shares of CompuGroup.
CVC will tender CompuGroup’s shares at €22 per share in cash, which represents a premium of 51.1% to the volume-weighted average price over the past three months.
CompuGroup’s founding family Gotthardt and related shareholders, who jointly hold a 50.1% stake, will retain their majority shareholding in the company.
Its founder Frank Gotthardt will continue as the chairman of the administrative board, and Daniel Gotthardt as CEO and member of the Administrative Board.
Daniel Gotthardt said: “Based on innovative, data-based and AI-empowered solutions, we have the unique opportunity to add a new dimension to healthcare in the years to come.
“CVC’s extensive expertise in investments in the healthcare industry and software business will support us to deliver our strategy as planned.
“Our envisaged partnership will catalyse the next phase of innovation and expansion, for the benefit of our customers, and ultimately patients.”
Upon completion of the offer, the founding family Gotthardt and related shareholders will hold at least 67% of all shares.
The two parties have agreed not to sign a domination or profit and loss transfer agreement for a period of two years after the closing of the offer.
CompuGroup will become a private company through a delisting offer, after closing of the tender offer.
The acceptance period would begin by the end of December 2024 and the transaction is expected to be completed in the first half of 2025.
CompuGroup Medical provides software products that support organisational processes in doctors’ and dentist’s offices, pharmacies, laboratories, hospitals, and social institutions.
The partnership with CVC is expected to support the company’s long-term growth strategy.
CompuGroup Medical and CVC intend to jointly drive advances in healthcare and empower medical professionals with next-generation products and strong customer support.
CVC managing partner Daniel Pindur said: “We look forward to collaborating closely with the Gotthardt family and the team, leveraging CVC’s experience in strategic partnerships with founder-led family businesses.”
CVC senior managing director Can Toygar added: “CGM is an outstanding company, and uniquely positioned to transform healthcare in Europe, making it better and more efficient.
“Together, we will focus on investments in modern, data-based products and improving service quality for medical doctors, pharmacists and nursing staff.”
