Kruibeke (Belgium), Amsterdam (the Netherlands), March 16th, 2015
AAC Capital ( “AAC” ), a leading Benelux mid-market buyout firm, today announced the acquisition of a majority interest in Corilus B.V. ( “Corilus” ), from Fagron N.V. ( “Fagron” ), a global pharmaceutical R&D company listed on Euronext Brussels and Euronext Amsterdam.
The management team of Corilus, led by CEO, Dirk Van Lerberghe, will invest alongside AAC.
Corilus is a provider of software solutions, eHealth services and total ICT solutions to the healthcare sector in Belgium, where it is the market leader, the Netherlands and France. The company offers practice management systems, communication tools, electronic patient records, as well as data exchange and billing systems. Corilus is a trusted provider to a broad range of healthcare professionals, among whom are pharmacists, general practitioners, nurses, midwives, dentists, ophthalmologists, opticians, physiotherapists and veterinarians. Corilus solutions can also be found in healthcare centres, hospitals, laboratories and elderly homes. The company’s turnover is some € 44 million.
As the importance of the first line healthcare is increasing rapidly, due to aging population and more patient empowerment, governments are focussing on the cooperation of the first line medical actors among themselves, as well as with the second line. Corilus is ideally positioned to leverage on this trend of connected healthcare providers. A highly skilled and motivated team of 350 employees are daily serving more than 40,000 customers.
This is the third platform acquisition for AAC in Belgium, after Desotec and Salad Signature (Hamal), which emphasizes AAC’s strong commitment to the private equity market in Belgium.
Marc Staal, Chairman at AAC, says:
“We see an increasing number of robust Belgium companies, with attractive growth potential, looking for a strategic partner to get to the next level. Corilus is no exception. We were greatly impressed with the company’s leading market position in Belgium, which Dirk and his team have built over the years. We look forward to working with them and realising further growth together, in their local markets and beyond, both organically and through acquisitions.”
Dirk Van Lerberghe, CEO Corilus, says:
“We are proud of the software solutions and services we offer our customers, with eHealth services evolving, and becoming an everyday reality for healthcare professionals and their patients. AAC fully understands the ongoing evolution within the first line healthcare landscape, our unique solutions and potential added value we can offer to our customers in the future. Partnership with AAC will allow us to further strengthen our competences and to expand current product portfolio and geographic footprint.”
Notes to Editors
About Corilus B.V.
Corilus provides (i) innovative ICT solutions for first line healthcare actors, such as pharmacists, General Practitioners and ophthalmologists, elderly homes, nurses and physiotherapists, dentists, veterinarians and opticians, (ii) communication and collaboration tools for the above mentioned healthcare actors, laboratories and hospitals; and (iii) consulting services to public and private insurance companies, Belgian government and other organisations. Corilus is the market leader in Belgium, with a number one position in almost all of its market segments. Additionally, Corilus is a market leader in the veterinary segment in the Netherlands, and holds a strong position with health centres (centres de santé) and eye clinics in France. Corilus’ software is currently used by more than 40,000 healthcare practitioners.
About AAC Capital
With offices in Amsterdam and Antwerp, AAC is a leading Benelux mid-market buy-out firm, which has to date completed 29 management buyouts, of which 21 have been realised. It targets opportunities for majority stakes in profitable, cash-generative companies headquartered in the Benelux. AAC’s deal size is typically between €10 and €150 million, and it is currently investing from its third, Benelux focussed fund. AAC is a growth-oriented investor, with such companies in its portfolio as Desotec, Orangefield Group, Salad Signature, Lubbers Transport Group and Hobré Instruments. Most recently, AAC completed a successful IPO of Lucas Bols, now listed on Euronext Amsterdam.
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