On July 24th 2019, Cathay Capital, a leading international private equity firm focused on cross-border investment and committed to supporting the international expansion of middle-market companies in Europe, North America, and China, acquired a minority share in medifa healthcare group, a global designer and manufacturer of turnkey modular operating room (“OR”) systems, mobile OR tables and accessories for operating theatres and other sanitized facilities as well as high-end medical stainless steel components. With approximately EUR 3 billion in assets under management and branches in Paris, Munich, New York, San Francisco, Shanghai and Beijing, Cathay will support the international growth of medifa healthcare group GmbH thanks to its extensive network as well as in-depth experience in buy-and-build strategies. The management team of the medifa group remains unchanged.
“Since taking over the production unit of the world leading producer of operating tables in 2015, and the acquisition of medifa KG in Finnentrop in 2017, the medifa healthcare group has experienced enormous growth. As the market for medical equipment continues its globalization, we too will spread our international presence whilst adding innovative products to our offering. With Cathay Capital’s support, the medifa group is perfectly positioned to realize its growth strategy”, explains Dr. Wolfgang Hohnhaus, Managing Partner of the medifa healthcare group.
“medifa is already an internationally successful company with state-of-the-art products and the most competitive offering on its segment. We intend to strengthen the brand sustainably by expanding the company’s international footprint as well as extending its activities and product portfolio by seizing M&A opportunities. Cathay will leverage its know-how, ecosystem, and global setup simultaneously, especially in China, to accelerate medifa’s international development, grow its client portfolio and support the company’s objective of expanding its global leadership through close collaborations between our respective local resources”, says Ming-Po Cai, Founder and President of Cathay Capital. As of now, the co-operation will be managed by Cathay’s German team in Munich.
“Cathay Capital’s network is a valuable building block for us to successfully strengthen our participation in the medical technology sector. We are very much looking forward to the new opportunities arising from the close cooperation with partners, customers and the entire Cathay team,” explains Christian Keller, Managing Partner of medifa healthcare group GmbH.
The medifa Healthcare Group employs around 350 people at three locations in Germany. Planning, engineering and production are done 100% in-house, exclusively in Germany. In addition, more than 90% of value-add are accomplished within the group, ensuring short reaction times to satisfy flexible customer demand.
Under the motto “we care”, medifa® understands the consistent orientation towards customer needs. On a global basis, medifa’s customers can rely on first-class consulting and services, product delivery and project execution as well as quality and performance from one single source “Made in Germany” in accordance with certified national and international quality standards.
medifa Communication Cathay Capital
Marianne Rohrmoser Yoann Besse
Head of Marketing [email protected]
[email protected] +33 (0)6 63 03 84 91
+49 (0) 151 67116 031
Sellers and acquirers
medifa Healthcare Group: Dr. Wolfgang Hohnhaus, Christian Keller
Cathay Capital: Jérémie Falzone, Ralph Karg, Steffen Prochazka
Financial Advisor – Quarton, a Cowen Company: Dr. Konstantin Schönborn, Dr. Lars Veit, Anette Cooper, Dr. Uwe Lenk
Legal – Milbank & Partners: Dr. Martin Erhardt, Dr. Michael Pujol, Lucas Kleinschmitt
Financial & Tax Due Diligence – PwC: Stefan Saalfrank, Christian Tempich, Stefanie Tielemann, Thomas Kelly, Stefan Dellinger
Commercial & Strategic Due Diligence – Roland Berger: Oliver Rong, Christopher Huth, Julien Gautier, Charles Colrat, Yifei Lin, Thibault Dussueil, Emma Bethouart, Artur Kazak
Legal & Structuring – Allen & Overy: Dominik Stühler, Dr. Kai Terstiege, Tobias Hoppe, Elisabeth Pichler
About medifa healthcare group
The medifa healthcare group (or “the Company”) is a globally active designer and manufacturer of modular operating room (“OR”) systems, mobile OR tables and accessories applied in turnkey operating theatres and other facilities requiring clean rooms as well as high end medical stainless steel components. The company successfully transformed from contract manufacturer towards mobile OR equipment and infrastructure solutions provider via targeted buy-and-build as basis to position as “One-Stop-Shop” towards end-customers. medifa applies a highly defensible business model given long-term key supplier positioning and high brand awareness among end-users for its quality and durable products. Its product and service portfolio cover the complete range of modular wall, door and ceiling systems (RooSy®: Room Systems), mobile operating tables and accessories, as well as examination chairs for gynecology, urology and proctology. In addition, one of the largest German OEM suppliers in the medical technology sector also belongs to the group. The Company’s geographical footprint is built on three production facilities in Germany and global direct and indirect distribution network. medifa is expected to generate € ~46m sales in 2019 with ~350 employees. More information at: www.medifa.com
About Cathay Capital
Cathay Capital Private Equity is a leading international private equity firm focused on cross-border investment and committed to supporting the international expansion of middle-market companies in North America, China and Europe. The firm’s team of nearly 90 professionals is based in New York, Shanghai, Beijing, Paris, Munich and San Francisco and leverages its unique business model and platform to create value for companies across three continents. With more than €2.8 billion in assets under management, Cathay Capital Private Equity has completed over 100 buyouts and growth capital investments across three continents since its inception in 2007. Cathay Capital Private Equity invests in and assists middle-market companies in the consumer goods and services, healthcare, business services and technology industries. For more information, please visit www.cathay.fr