Buyout

Accelerating growth of winning businesses

Case Proxima

 

CapMan Buyout made the initial investment in Proxima, a private healthcare company offering specialist care services in the Greater Stockholm area, in 2007. CapMan Buyout together with both internal and external healthcare expertise supported the company's growth into a full-scale health care service provider offering specialist care, primary care, diagnostics, occupational care and rehabilitation services.

The health care services market in Sweden offered opportunities for private players

The growth in health care services in Sweden was primarily driven by the aging population. Financing the increased demand for health care services had become a growing challenge for municipalities and region councils, which created new opportunities for private service providers. Furthermore, political consensus regarding the patient’s right to choose one’s own service provider, privatisation and need for increased efficiency supported CapMan Buyout’s investment in Proxima, which at the time was a well-managed and established company in the specialist care services market.

Proxima became a full-scale health care service provider

Together with Proxima’s management team, CapMan Buyout’s goal was to transfer the company focusing on special care into a full-scale healthcare service provider preserving high quality as a starting point. The first step was to improve Proxima’s efficiency by improving process flow in and between entities and by realising synergies in accordance with the new strategy launched by the case team. The management structure was adjusted to correspond to the new decentralised business model and to enhance Proxima’s business areas. During CapMan Buyout’s ownership, Proxima’s geographical footprint and spectre of services was further expanded to diagnostics, primary care, occupational care and rehabilitation through 16 acquisitions, which together with public procurement and contact wins increased Proxima’s turnover grew from EUR 19 million in 2007 to EUR 110 million in 2011.

CapMan's and the management's shared vision has been to build a full scale health care service provider.

In 2011, Proxima continued its growth as part of a bigger group as it was sold to Aleris, a pan-Scandinavian heath care company. CapMan Buyout’s investment team commented the exit in 2011:

"CapMan's and the management's shared vision has been to build a full scale health care service provider. We have now achieved this goal and we want to thank the company's management and personnel for a job well done. We are very pleased with the transaction and we are convinced that Aleris is dedicated to further develop Proxima,"

During CapMan Buyout’s ownership:

  • Expanding service offering through 16 acquisitions 
  • Improved efficiency and scalability
  • Personnel increased 273%

Key figures:

Investment period: 2007-2011

CapMan funds total ownership: 80%

Industry: Health care services

Number of employees at exit: approx. 500

 

 

Investment: 2007

Turnover: 72,170,269 e

Personnel: 504

Reporting year: 2010

Net sales development
SEK million

EBITDA
SEK million