3i and N.I. Partners invest in Vedici

05 Mar 2010

3i, and funds managed by 3i, together with N.I. Partners, the private equity division of the NATIXIS group, today announce they have signed an agreement to invest in Vedici, the 5th largest acute care company in France.  The investment will strengthen Vedici’s balance sheet and accelerate its growth strategy which has been the driving force behind its success over the past few years.

The two investors will become shareholders alongside the founding directors. Apax Partners SA, which has been invested in Vedici since January 2006, will sell its stake.

Vedici has become a major player in private hospital care in France in recent years. Over the space of four years, the group has grown from 6 to 23 centres, offering 2,650 beds today, and its annual turnover has grown from €65 million to €280 million.

Today’s investment represents a new step in the group’s development. It will provide the business with additional resources to accelerate its growth strategy, as it aims to double its size over the coming years.

3i has considerable experience in the healthcare sector through its dedicated global sector team. Healthcare investments include Labco (a network of medical analysis laboratories, France), Quintiles (outsourced pharmaceutical R&D, USA) and Axellia (formerly Alpharma API, a manufacturer of pharmaceutical products, Norway). In addition, 3i recently successfully sold its stake in Ambea (leading private provider of healthcare and care services across the Nordic region) to Triton for €850m.

N.I. Partners also has wide-ranging experience in the healthcare sector, notably with investments in Ceva (a veterinary pharmaceutical laboratory, France) and Labco (a network of medical analysis laboratories, France).

The deal is subject to the approval of the competition authorities.

Notes to editors

About Vedici 
Founded in 2000 by its current directors, Jérôme Nouzarède, and Doctor Michel Bodkier, Vedici is today one of the principal players in acute care in France. The group owns 23 centres, most of which are located along a line stretching from Paris to southern / south-western France. The business employs 5,000 people and has a total capacity of 2,650 beds.

About 3i
3i is an international leader in private equity. We focus on buyouts, growth capital and infrastructure and invest across Europe, Asia and North America. Our competitive advantage comes from our international network and the strength and breadth of our business relationships. These underpin the value that we deliver to our portfolio, shareholders and investors.

www.3i.com

3i Healthcare
3i's healthcare team has invested over €1.6bn in 36 healthcare companies since April 2001 across Europe, North America and Asia. We invest in Pharmaceuticals, Medical Technology and Healthcare Services companies led by management teams with a strong track record and the ambition to build lasting value. 3i's recent investments in the healthcare sector include: Quintiles Transnational, Axellia (formerly Alpharma API) and LHi Technology.

About N.I. Partners 
Natixis Investissement Partners acts as an active partner alongside directors or family shareholders who wish to accelerate the growth of their company or restructure their shareholding in the world of French SMEs with turnover ranging from €50 million to €500 million and with major growth potential.

Most notably, Natixis Investissement Partners is a shareholder in Ceva Santé Animale (veterinary pharmaceutical laboratory), Labco (pan-European network of medical diagnostic laboratories), Buffalo Grill (themed restaurants), Malherbe (transport and chartering), Saverglass (manufacture of top-range glass products), Newrest (ex-Eurest Inflight Services, airline catering) and Asteelflash (design and manufacture of electronic assemblies).

About Apax Partners
Apax Partners SA is a leading private equity firm in France. With more than 30 years of investing experience, Apax Partners provides long-term equity financing to build and strengthen world-class companies.

Funds managed by Apax Partners SA exceed €2 billion. These funds invest in fast-growing companies across Apax’ six sectors of specialisation: Healthcare, Technology, Telecom, Media, Retail & Consumer, Business & Financial Services.

For more information visit: www.apax.fr