Gilde Healthcare has agreed to sell RAD-x to Swiss Life Asset Managers and Vesper Infrastructure Partners

RAD-x

Founded in 2016 and headquartered in Mannheim, Germany, RAD-x is one of the leading diagnostic imaging providers in Germany and Switzerland. RAD-x has grown from a single clinic to one of the largest diagnostic imaging platforms in the region, with 23 centers across Germany and Switzerland. Through its continued focus on technology and innovation, RAD-x remains at the forefront of diagnostic imaging as it provides high-quality and reliable diagnostic services to its patients.

The Deal

Since its inception and partnership with the first diagnostic imaging center in 2016, RAD-x has successfully grown into a leading pan-European operator with 23 sites, more than 130 doctors and 750 staff across Germany and Switzerland, now performing more than 400,000 examinations annually. Historically, RAD-x has acted as one of the main market consolidators and remains well positioned to further broaden its radiology platform across Europe under the new ownership. The consortium will support RAD-x’s growth ambitions through a significant growth plan aimed at expanding its current footprint in its existing as well as new markets. The successful outcome of this transaction in a challenging macroeconomic environment underpins the capabilities of Lincoln International’s Global Healthcare Group through its deep sector knowledge, pan-European collaboration and strong network.

Our Perspective

Dirk-Oliver Löffler, Lincoln International Managing Director who led the transaction, commented, “We are pleased to have advised Gilde Healthcare on its sale of RAD-x amidst an uncertain macroeconomic environment. This transaction not only strengthens RAD-x’s position and accelerates its future growth, but also sets a precedent for revitalizing M&A activity within the broader German healthcare services market which continues to be driven by strong structural trends.”

Gilde Healthcare

Gilde Healthcare is a specialized healthcare investor managing over €2.6 billion across two fund strategies: venture and growth and private equity. The venture and growth fund of Gilde Healthcare invests in fast-growing companies active in digital health, MedTech and therapeutics, based in Europe and North America. The private equity fund of Gilde Healthcare participates in profitable lower mid-market healthcare companies based in North-Western Europe.

Swiss Life Asset Managers

Established in 2011, the Swiss Life Asset Managers’ infrastructure equity platform manages over €10 billion in assets under management for its clients and partners. The team consists of 65 investment specialists with an averageof 20 years of industry experience across the senior-level members. The platform has made 75 infrastructure investments, across 15 solutions, in both direct and indirect opportunities across the energy, communications, transportation, regulated utilities, social infrastructure and renewable energy sectors.

Vesper Infrastructure Partners

Vesper Infrastructure Partners’ next generation fund I SCSp is a closed-end alternative investment fund based in Luxemburg managed by Sanne LIS S.A, which pursues infrastructure investment opportunities in next-generation infrastructure, by focusing on companies active in (i) clean, digital and decentralized energy; (ii) decarbonized mobility and connected logistics; (iii) date-centric, low-latency digital infrastructure and (iv) sustainable, circular and healthy living solutions.

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