A consortium made up of OMERS Infrastructure, Goldman Sachs Asset Management and AXA IM Alts is buying medical diagnostics company Amedes from Antin Infrastructure Partners.
OMERS Infrastructure and Goldman Sachs each hold a 37.5% stake with AXA IM Alts owning a 25% stake in the consortium which has agreed to buy Amedes for an undisclosed amount.
Amedes, an owner of more than 75 laboratories, provides medical diagnostics services in Germany, Belgium and Austria.
Under the consortium’s ownership, Amedes will ”continuously pursue its strategic objectives and further expand its leading market position in integrated specialty diagnostics”, the companies said in a statement
Philippe Busslinger, senior managing director and head of Europe at OMERS Infrastructure, said the acquisition of Amedes is OMERS Infrastructure’s investment in Germany, ”which continues to be a core region of interest to us”.
”We welcome the opportunity to increase our exposure to this market and the lab diagnostics sector, as it further diversifies our portfolio and contributes to the generation of steady returns for our pension plan members.”
Philippe Camu, global co-head of the infrastructure business within Goldman Sachs Asset Management, said: “Our investment thesis is based on the resiliency of the business, driven by a stable regulatory framework as well as by strong secular trends in the sector.”
Matteo Botto Poala, managing director in the infrastructure business within Goldman Sachs Asset Management, said: “We are excited to work with Amedes’ management team to accelerate growth through innovation, commercial and operational initiatives, and acquisitions.”
Mark Gilligan, head of infrastructure equity at AXA IM Alts, said the investment into Amedes alongside Goldman Sachs Asset Management and OMERS Infrastructure, follows AXA’s June 2021 investment in Stockholm Exergi and ”aligns with our strategy of assembling a premier portfolio of core through to core plus European infrastructure businesses”.
”Through its superb network of medical laboratories and clinics across Germany, Belgium and Austria, it possesses that most critical thing we seek as infrastructure investors – essentiality. We share our partners’ vision for the growth of the firm and look forward to working with management as it continues to deliver world-class cost-effective services to its customers and patients.”
To read the digital edition of the latest IPE Real Assets magazine click here.