Transaction Details

May 9, 2019
Frankfurt

Sector

Healthcare

Deal Type

Debt advisory

Deal Value

N/D

Deal Team

Johannes Schmittat, Norbert Schmitz, Nikolaus Clary, Janik Bold, Mindaugas Yla

GCA Altium advised Telemos Capital on the acquisition financing for the newly founded Sanoptis, a European ophthalmology services group

GCA Altium advised Telemos Capital on the acquisition financing for the newly founded Sanoptis group, a European ophthalmology services group comprising 53 facilities in Germany and Switzerland. The financing structure provides Sanoptis with an excellent basis to pursue its ambitious buy-and-build strategy.

Sanoptis covers the full spectrum of diagnostic and surgical ophthalmic treatments, including cataract operations and intravitreal injections for age-related macular degeneration. With over 500 employees, the Sanoptis group performed over 300,000 diagnostic consultations and more than 50,000 surgical procedures in 2018. The group comprises two ophthalmology hospitals in Germany and 51 outpatient facilities across Germany and Switzerland. Sanoptis was established by Telemos Capital. Funded by family capital, Telemos Capital invests in private European businesses, with the aim of building great companies for the long term combining the flexibility and nimble decision-making of a family office with the active ownership and professionalism of private equity.

Sanoptis has partnered with leading ophthalmologists, who have demonstrated a long track record of clinical excellence and successfully developed their respective clinic groups into regional market leaders.

GCA Altium advised Telemos on a tailored financing package that supports the successful buy-and-build approach of the group while taking into account Sanoptis’ partnerships with ophthalmologists on a regional basis. Dr Volker Wendel, CEO of Sanoptis explained: “The new financing structure will give us both the required flexibility and the funding security to execute our exciting organic and inorganic growth strategy.”

Dr Johannes Schmittat, Managing Director at GCA Altium, stated: “The financing structure takes into account a complex closing mechanism, while providing flexibility and liquidity to support Telemos and Sanoptis with a successful buy-and-build approach.”

This transaction marks the 19th healthcare financing of the Frankfurt-based Debt Advisory team of GCA Altium during the last years.

All parties agreed that no details of the transaction would be disclosed.

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