Telemos Capital (“Telemos”) has signed an agreement to sell Sanoptis, a leading European ophthalmology services group, to family-backed investment holding company Groupe Bruxelles Lambert (“GBL”).
Since Telemos partnered with Sanoptis management to establish the company in 2018, it has developed into a leading provider of high quality and innovative ophthalmology treatments in Europe. Today, the company operates over 250 facilities and performs over 1.3 million conservative and 170,000 surgical procedures annually. Over the past few years Sanoptis has rapidly grown into a market leader in Germany and Switzerland through acquisitions and organic initiatives.
The transaction announced today ensures that Sanoptis will continue to get the support needed for the next phase of the company’s growth across Europe.
Philippe Jacobs, Chairman and founder of Telemos notes: “We are very proud of what we have achieved with Sanoptis. The doctor-centric business model has proven to be highly successful as it promotes innovation and growth, and supports excellent service and outcomes for patients. In GBL we have found a strong partner for Sanoptis that fully appreciates the company’s unique approach and will provide support to continue its strong growth journey.”
Jacob Polny, Chief Investment Officer, and Dipesh Mahtani, Vice President, of Telemos add: “We would like to thank Sanoptis’ management team for the successful partnership in founding and developing the company into a differentiated market leader. We wish the company and team all the best for the next chapter of growth.”
Volker Wendel, CEO of Sanoptis concludes: “In just a few years we have become a leading European platform for ophthalmology services. This would not have been possible without our partnership with Telemos, and we thank the Telemos team for its great support. The management team is excited to continue on this path together with GBL, while increasing its stake in the company by way of a substantial re-investment.”
Telemos is keen to invest further in strong healthcare services assets across Europe, partnering with experienced management teams and highly regarded doctors. In addition to Sanoptis, Telemos is currently on an organic and acquisition led growth path with MedEuropa, a network of radiotherapy clinics offering advanced cancer treatment across multiple European countries.
The Sanoptis transaction is expected to close in the coming months. Telemos was advised by Rothschild & Co (M&A), Linklaters, Mazars and Homburger (Legal), EY (Financial and Tax), and Bain & Co (Commercial).