Press release - 4 July 2007
CapMan invests in Norwegian healthcare service group
Funds managed by CapMan have invested in Telemark Røntgen Group, a leading provider of medical imaging services in Norway.
Telemark Røntgen Group includes Telemark Røntgensenter AS, Haugesund Røntgeninstitutt AS, Nordland Medisinske Senter Røntgeninstitutt AS and Tromsø MR-Senter AS. The companies are providers of high quality medical imaging services such as x-ray, MR (magnetic resonance), CT (computer tomography), mammography and ultrasound diagnostics and they operate through four modern imaging centres in Norway.
The Group was founded in 2001 and it is the third largest private medical imaging services provider in Norway. In 2006 Telemark Røntgen Group employed 50 persons and had net sales of approx. EUR 15 million. The Group’s share of the private medical imaging market was approx. 18 percent in 2006.
“Telemark Røntgen Group’s business is based on efficient operations of modern imaging technology combined with highly competent personnel. Our goal, based on the expertise in the company, is to support the company in it’s development into a leading healthcare provider in Norway within medical imaging and potentially also within other healthcare service segments,” states Kai Jordahl, CapMan’s Senior Partner.
“The need for private healthcare services is increasing in all the Nordic countries as the proportion of elderly people grows. Telemark Røntgen Group is a good example of private healthcare services and an important complement to the public sector,” says Björn Nordenvall, Partner at CapMan.
The transaction will be made on behalf of a new company. CapMan funds will hold approximately 67 percent of the shares and the current owners of Telemark Røntgen Group will hold the remainder of the shares. The investment in the company is made by CapMan Buyout VIII and CapMan Life Science IV in which CapMan Plc is a substantial investor. The transaction requires the approval of the competition authorities and it is expected to be closed by mid August.
For more information, please contact:
Kai Jordahl, Senior Partner, CapMan Buyout, tel. +47 23 23 75 71 or +47 909 82 271
Björn Nordenvall, Partner, CapMan Life Science, tel. +46 8 545 854 70 or +46 706 39 10 10
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