Ardian's Dedalus carves out DXC's healthcare division

The acquisition will enable Dedalus to accelerate the digital transformation of its healthcare-dedicated business while optimising its R&D capabilities.

Following this add-on, Dedalus will employ 5,500 people – of whom 2,000 work in research and development – and generate revenues of around €700m.

Ardian bought a 60% stake in Dedalus in July 2016 via its €4.5bn Ardian LBO Fund VI. The transaction saw the company's chair and CEO, Giorgio Moretti, sell 10.41% of his stake and retain 40%, while previous backers Three Hills Capital Partners and Mandarin Capital Partners sold their 14% and 35.59% holdings, respectively. Subsequently, Dedalus raised a €72m bond from asset management firm Tikehau IM in December 2016.

Founded in 1990 and based in Florence, Dedalus is a medical software provider specialising in diagnostic and clinical management. It employs 2,000 staff, has 50 offices in Italy, a presence in 25 countries across Europe, the Middle East, the Americas, Africa and Asia, and generates revenues of around €210m.

Company
DXC's healthcare software division provides a clinical healthcare platform for national and regional authorities, hospitals, diagnostic laboratories, general practitioners and outpatients.

The business has a strong presence in the UK, Ireland, Australia, New Zealand and Spain, and a significant position across northern Europe, Latin America, Asia, the Middle East and North America. It covers all aspects of clinical decision-making processes, with the aim of improving the ability for collaboration of all healthcare stakeholders in the care of patients.

People
Ardian – Yann Chareton (managing director, Ardian Buyout in Italy).
Dedalus – Andrea Fiumicelli (CEO); Giorgio Moretti (chair).

Advisers
Acquirer – UBS (corporate finance); CC (legal); BCG (financial due diligence); KPMG (financial due diligence, tax).

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