Adiuva Capital announces successful
250 Million Euros strategic capital raise for Sanecum Group
April 4, 2023
Adiuva Capital is pleased to announce a 250 Million Euros strategic capital raise for Sanecum Group (“Sanecum”), a leading operator of multidisciplinary medical care centres in Germany, from several long-term equity capital providers led by Montana Capital Partners as well as a bank syndicate.
Sanecum is a leading network of outpatient medical care centres in Germany, combining a unique cluster strategy with medical excellence and a highly innovative market approach. At the 46 sites of Sanecum Group, chronic care patients are cared for within a multi-disciplinary medical treatment setting. Sanecum’s treatment concept is focused on internal medicine, in particular nephrology and cardiology, combined with diagnostics and laboratory medicine.
The capital increase enables Sanecum to successfully drive forward its strategy with impressive growth in the outpatient market. The equity capital was provided by a consortium of long-term oriented family offices and institutional investors, led by Montana Capital Partners.
The debt financing included the increase of existing senior facilities to implement the further growth of the group. The increase was provided by the existing bank syndicate and complemented by new lenders.
“Sanecum offers a unique model for providing patients with first-class, multidisciplinary medical care based on a partnership model with physicians. We are impressed by the high level of support from physicians and are pleased that we have been able to convince further capital providers of this forward-looking approach.” – Tobias Osing, Managing Partner, Adiuva Capital
“The management of Sanecum Group would like to thank Adiuva and the new investors for the trust they have placed in us and looks forward to continuing our growth trajectory to become the leading multidisciplinary operator of regional medical network providers.” – Ulf Völkel, CEO, Sanecum Group
“Montana Capital Partners is delighted to act as the lead investor in the equity capital raise for Sanecum to support the company’s impressive growth path by partnering with the outstanding teams of Sanecum and Adiuva.” – Dr. Stephan Wessel, Partner, Montana Capital Partners
Rothschild & Co acted as exclusive financial advisor to Adiuva Capital and Sanecum on both the debt and equity raise. Willkie Farr & Gallagher LLP and Flick Gocke Schaumburg provided legal advice on the equity process. Flick Gocke Schaumburg also provided tax and structuring advice. Baker McKenzie provided legal advice in relation to the debt process. BDO provided financial due diligence support. Lupp + Partner provided legal advice to Montana Capital Partners AG.
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Founded in 2019 by Ulf Völkel and Dr. Susanne Hoischen together with Adiuva, Sanecum Group is the most successful physician network in a partnership model with doctors acting as shareholders and managing directors. Today, the Sanecum Group is active throughout Germany and operates its medical care centers in six major cluster regions. The specialties include the full spectrum of internal medicine (with a special focus on nephrology and cardiovascular medicine) and the areas of diagnostics (with laboratory medicine and comprehensive imaging diagnostics).
Sanecum plans to continue to grow strongly in a largely fragmented market.
Today, the Sanecum Group employs more than 200 physicians and 800 employees in total and generates more than €200 million in revenue. https://sanecum.de/
About Montana Capital Partners
Founded in 2011, Montana Capital Partners is one of the most established secondary private equity investors in the European and North American mid-market with a focus on buyout and growth investments. Montana Capital Partners employs more than 30 professionals and has invested in over 100 transactions to date, pursuing a balanced approach across diversified portfolio and more concentrated transactions. As an adviser to five funds, Montana Capital Partners’ funds have total assets in an amount of EUR 3.4bn with a global investor base. http://www.mcp.eu