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Kempen European Private Equity Fund invests in French software company in the healthcare industry

23 March 2021

The new entity that will be created as a result of the merger between Medisys and Cityzen will be a frontrunner in France in the field of healthcare ERP software, with a combined history spanning three decades. The company will serve close to 11,000 clients, with a focus on both the public and the private care market. The group employs approximately 450 full-time employees, over 90 of whom are software specialists, divided over 17 locations across France. The combined turnover amounted to approximately EUR 45 million in 2020.

Sven Smeets, Managing Director and Bram Bikker, Director, at Kempen Private Markets, commented: “The new company is a merger between two cutting-edge French software companies: Medisys and Cityzen. Integrating these two companies will result in the market leader in France in the field of software for the healthcare industry. Both companies will profit from the combined expertise, experience, and innovations, leading to enhanced synergy, better service, and higher-quality software solutions for the benefit of their customers.” 

“The solutions of the newly created company will improve the efficiency and effectiveness of doctors, nurses, and other healthcare professionals, benefiting the care of the elderly and the sick. We have great trust in the management team, who will continue to build on the success of this company. We are excited about this latest investment of our private equity fund.” 

The participation of the Kempen European Private Equity Fund is a co-investment with investment company Activa Capital and the original founders. In addition, the management team of the new entity has co-invested in this deal with their own resources. As a result, the interests of the various investors are equally oriented.

Alexandre Masson and Christophe Parier, Managing Partners of Activa Capital, added: “The management teams of Medisys and Cityzen initiated the first talks and negotiations about twelve months ago, which has resulted in this significant merger between two high quality companies. This new company will drive an acceleration in innovation in medical social software, both in the public and the private sectors.” 

The announcement marks the third participation of the fund in 2021 after the earlier acquisitions of interests in the British software company Eque2 and the French company GSRI, which provides inspection and advisory services for infrastructure management. This deal is the ninth direct private equity participation of the Kempen European Private Equity Fund and the third deal of the fund in France.


About the Kempen European Private Equity Fund
The Kempen European Private Equity Fund was launched at the start of 2019 and is a closed-end investment fund with a minimum duration of ten years. The fund focuses on the small and lower mid-sized segment of the European buy-out private equity market in five regions: the Benelux, the German-speaking countries, France, the United Kingdom and Scandinavia. The aim is to construct a broad investment portfolio over a period of three to five years by diversifying across the listed regions and a range of sectors. The reason for this is risk diversification. 

As of March 2021, the portfolio already contained eight direct investments in companies and nine partnerships with local European investment partners that are well established in their respective regions. The fundraise for the Kempen European Private Equity Fund was successfully completed in 2019 on a total committed capital of € 192.5 million.The Kempen European Private Equity Fund has now been closed to new participants/entrants.

Disclaimer
The Kempen European Private Equity Fund (the Sub-Fund) is a sub-fund of Kempen Alternative Markets Fund SICAV-RAIF (the “Fund”), domiciled in Luxembourg. Kempen Capital Management N.V. (KCM) is the management company of the Fund. KCM is authorised as a management company and regulated by The Netherlands Authority for the Financial Markets. The Sub-Fund is registered under the license of the Fund at the Netherlands Authority for the Financial Markets. 

The information in this document provides insufficient information for an investment decision. Please read the Key Investor Document (available in Dutch and English) and the prospectus (available in English). These documents of the Fund are available on the website of KCM (www.kempen.com/en/asset-management). The information on the website is (partly) available in Dutch and English. The Subfonds is registered for offering in a limited number of countries. The countries where the subfund is registered can be found on the website. 

The value of your investment may fluctuate. Past performance provides no guarantee for the future.

About Kempen Capital Management

Kempen Capital Management is a specialist asset manager with a focused approach and a clear investment philosophy. We believe in long-term stewardship for our clients and other stakeholders. Kempen provides sustainable returns, fiduciary management services, manager selection, portfolio construction and monitoring, alongside a number of actively-managed investment strategies. As of 31 December 2020, Kempen Capital Management had a total of €86.2 billion in client assets under management.

Kempen Capital Management, part of Van Lanschot Kempen Wealth Management NV, is a specialist and independent wealth manager. Kempen Capital Management NV is licensed as a manager of various UCITS and AIFs and authorised to provide investment services and as such is subject to supervision by the Netherlands Authority for the Financial Markets. Kempen Capital Management (UK) Ltd is licensed as a manager and subject to supervision by the Financial Conduct Authority.

For more information, please visit: kempen.com

 

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