H2 Equity Partners (“H2”) is pleased to announce that it has completed the sale of its shareholding in Healthcare 21 Group (“HC21”), the leading independent healthcare service and distribution business in Ireland and the United Kingdom, to Swedish MedTech group AddLife AB.
H2 Equity Partners’ involvement with HC21 started with the carve-out of Aquilant in August 2018, followed by a merger with HC21 in October 2018. Subsequently the new HC21 Group developed into a leading independent distributor that offers solutions and high-quality products, adds customer value with its high level of clinical expertise and provides services to public and private customers. HC21 conducts business in 15 therapeutic segments, with products for emergency care, primary and home healthcare, diagnostics and surgery as well as services accounting for just over 50 percent of sales. In 2019 HC21 acquired Xograph, followed by the acquisition of Cardio Solutions in 2020.
The close cooperation between the Founder and Management Team of HC21 and H2 Equity Partners has delivered strong revenue and profitability growth and established HC21 as a market-leading company with a clear visibility on the future growth prospects and cash flows of the business. This combined with the strong underlying market growth and positive outlook for the sector have allowed H2 Equity Partners to realise an exceptional return within a three-year timeframe.
Eversheds Sutherland (Legal), KPMG (Financial & Tax), Roland Berger (Commercial) and William Blair (Corporate Finance) acted as exclusive advisors to HC21 and its shareholders.