Nazca reaps 2x on IMOncology exit

The Australian radiation oncology provider acquired 100% of the business in the deal, which sees IMOncology's management team continue to lead the company.

According to press reports, Nazca received offers from several industrial groups, including Ribera Salud Grupo, as well as the Dutch holding company Affidea.

Following the sale of ceramic coatings producer Fritta in 2015, the deal marks the second divestment for the Nazca III vehicle.

Previous funding
In December 2011, Nazca acquired an 83% stake in IMOncology for €20m through its Nazca III fund. At the time of the transaction, the company was known as Grupo IMO.

Company
Founded in 1991 and headquartered in Madrid, IMOncology specialises in oncology and radiotherapy-based treatments as well as chemotherapy and immunotherapy services.

The company manages 12 facilities across Spain and – according to local media – generated €30m of revenues in 2015. The business employs a staff of 200.

People
Nazca Capital – Ignacio Portela (partner).
IMOncology – Pablo Jiménez-Herrera (CEO).

Advisers
Vendor – Lloyds Bank (M&A); KPMG (financial due diligence, tax); Herbert Smith (legal).

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• Topics
• Exits
• Healthcare
• Southern Europe
• Spain
• Trade sale