Gimv acquires homecare service Apraxon

Harriet Matthews
14 April 2021

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Gimv has acquired a majority stake in Apraxon, a Germany-based business that provides homecare services for patients with chronic wounds.

Apraxon CEO Oliver Pokrzewinski will retain a significant stake in the business, Gimv said in a statement. The GP aims to support the company with its growth plans.

Asked about what the growth plan will involve, a spokesperson for Gimv told Unquote: "We intend to support Apraxon's regional expansion through organic growth and buy-and-build, with the aim of continuing the company's historic double-digit growth rates. We will also support further investments in the backbone of the company, specifically in IT, proprietary software, and the expansion of its warehouse and logistics facilities."

Gimv makes investments from its own balance sheet, targeting SMEs in France, DACH and Benelux, with revenues of up to €250m and capital needs of €5-50m. The GP makes investments across four sectors: health & care, connected consumer, sustainable cities, and smart industries.

Gimv has previously invested in the medical homecare sector; it acquired a majority stake in Netherlands-based Eurocept in 2014, with part of the equity contribution provided via its €150m Health and Care Fund co-investment vehicle, which held a final close in March 2014 and is no longer making new investments. The GP sold Eurocept's homecare division to Advent's Mediq in October 2020, shifting the focus of Eurocept towards its pharmaceutical and therapeutics divisions.

Gimv's acquisition of Apraxon is the second buyout in the healthcare sub-sector of wound homecare in the DACH region to date in 2021. Capiton acquired a majority stake in Germany-based Wundex in March 2021, as reported, acquiring the stake previously held by BE Beteiligungen. The company was marketed based on EBITDA of €7m, according to Unquote sister publication Mergermarket, and has 400 staff.

Company
Founded in 2007 and headquartered in Hofbieber, Apraxon provides at-home wound care services for patients. The majority of its patients are elderly and the services it provides are reimbursed by German health insurance providers.

People
Gimv – Oliver Pokrzewinski (CEO).
Apraxon – Philipp von Hammerstein (partner).