Quartz Healthcare has reached an agreement to acquire radprax Holding

PRESS RELEASE
Luxembourg LUXEMBOURG, JULY 20, 2022

Quartz Healthcare Group sarl (“Quartz Healthcare”), a fund holding company managed by InfraVia Capital Partners (“InfraVia”), today announced that it has entered into an agreement to acquire radprax Holding GmbH & Co KG and its subsidiaries (“radprax Group or radprax”). The transaction is subject to customary regulatory approvals and is expected to close in the first quarter of 2023.

Radprax is a leading German healthcare group specialising in diagnostic imaging, headquartered in Wuppertal (Germany) and with 13 locations in North Rhine-Westphalia.

The radprax group operates medical care centres (MVZ) and a hospital. The radprax Group’s Medical Care Centres (MVZ) offer services in the fields of radiology, radiotherapy, nuclear medicine, cardiology, interventional radiology and preventive medicine.

The Plettenberg hospital completes the medical spectrum with specialist areas in surgery, gastroenterology and geriatrics. With a heritage dating back 80 years, radprax employs more than 90 doctors and 950 professionals and combines the use of cutting-edge medical technologies with a unique patient-centred culture. Following completion of the transaction, radprax will become part of Quartz Healthcare and Germany will become the most important country in the expanding platform.

We are confident that Radprax’s expertise will strengthen our platform and medical strategy and help us to deliver high quality care to our patients through cutting-edge technology and our local approach to medical care delivery. This transaction will make Quartz Healthcare one of the largest players in diagnostic imaging in Germany.

Radprax is highly complementary to Quartz Healthcare in Bavaria, Germany and is in line with our strategic objectives to expand its activities in Germany across 7 regional clusters. Following this transaction, our group will operate 26 diagnostic imaging sites in Germany and will integrate more than 1,200 professionals.

As part of the agreement, Quartz Healthcare will promote some of radprax’s key executives to work on group projects and accelerate our expansion, reflecting the strength of radprax’s successful capabilities and experience.

Andreas Martin, co-founder of radprax, said:

“With Quartz Healthcare, we have found a strong and professional partner that offers the financial security to create an environment in which our radprax employees can continue to develop.

The combined expertise and scale of Quartz Healthcare will enable us to strengthen and improve the services offered to our patients. Together, new ideas can be developed, accelerated and funded.

On behalf of all shareholders, we would like to thank all our radprax non-medical and medical colleagues for their drive, energy, commitment and constant focus on patients.”

Dr. Christian Le Dorze, Chairman of Quartz Healthcare, said:

“In radprax, we have found a partner who shares our values: medical quality, people, patients and technology.

This acquisition allows us to accelerate our growth strategy and expand our German platform. radprax offers a leading position in the German market and an extension of our strength in medical management.

We look forward to working with the radprax team in delivering the highest quality care to our patients.”

André Hoppen, Managing Director of radprax, commented:

“This transaction will enable radprax to accelerate its development by partnering with hospitals and joining forces with like-minded radiology, nuclear medicine and radiotherapy operators.

Our approach and ambitions for medical quality will remain unchanged and Quartz Healthcare share our commitment to uncompromising quality of care.”

Lincoln (M&A), Deloitte (finance and tax) and Seufert Law LLP (legal) are acting as advisors to Quartz Healthcare. WTG (financial) and OrthKluth (legal) are acting as advisors to radprax.

About Quartz Healthcare

Quartz Healthcare is actively developing a European network of state-of-the-art diagnostic imaging centres in Germany, France, Italy and Spain.

Quartz Healthcare’s management team consists of experienced executives with international healthcare experience and a strong medical culture. Quartz Healthcare partners with doctors and founders who share our passion for medical quality and our ambition.

Together, we invest in people, facilities and technology to deliver the highest quality care to our patients.

About radprax

radprax was founded in 1952 as a one-man practice in Wuppertal and is now represented at 13 locations in eight cities in North Rhine-Westphalia. radprax owns and operates medical care centres (MVZ) and a hospital. The group focuses on radiology, nuclear medicine, radiotherapy, cardiology, interventional radiology and prevention. With more than 410,000 patient examinations per year, including 130,000 MRI examinations, radprax is one of the largest and most modern healthcare centres in the field of image-based diagnostics and therapy in Germany.

In 2017, the radprax Group took over the Plettenberg hospital with its senior citizens’ centre and therapy centre. The company has thus extended its medical spectrum to include the specialist fields of traumatology and orthopaedic surgery with endoprostheses, abdominal surgery, gastroenterology and geriatrics. With 950 employees, the radprax group is one of the largest providers of medical services in North Rhine-Westphalia.