Palamon reaps 3x on Prospitalia exit

The firm has sold the business to an undisclosed investor.

Palamon acquired Prospitalia via its €670m Palamon European Equity II fund, which held its final close in July 2006 above its €650m target.

The fund has completed eight exits to date, generating €708m in proceeds and a multiple of 2.8x returns.

Company
Founded in 1993 and headquartered in Ulm, Prospitalia provides a price and purchasing-conditions negotiation service. The company's client base includes 350 contract suppliers for more than 900 hospitals and healthcare facilities in Germany.

The company's services are designed to help lower the cost of goods purchased. It has a pooled purchasing volume of €1.2bn.

People
Pascal Noth and Louis Elson are partner and managing partner at Palamon respectively.

Advisers
Vendor – Willkie Farr & Gallagher (Legal); PwC (Tax).

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