Apposite Capital leads €7m round for NIMGenetics

The London-based GP provided a €7m capital injection as part of a minority buyout, which included the acquisition of existing shares and the issue of new shares, a source close to the situation told unquote". The deal was sourced off-market as the business directly approached the GP, the same source said.

According to a statement, the company intends to use the capital injection to expand its service offering and boost its presence in Latin America. As part of the deal, Apposite managing partner David Porter and partner Sam Gray will join the company's board of directors.

The deal is the third acquisition for the GP's Apposite Healthcare Fund II vehicle, which acquired UK-based Medical Imaging Partnership for £12m in May 2016 and UK-headquartered domiciliary care and homecare businesses Enara Group and Complete Care Holdings for £2m in March 2017. Launched in September 2015 with a £125m target, the fund held a first close on £70m in May 2016.

Company
Based in Madrid. NIMGenetics provides genetic testing services in several medical areas, including pre-natal testing, gynaecology, neurology, paediatrics, cardiology and oncology. Founded in 2008, the company currently manages 500 medical centres mainly in Spain and Brazil, but it has also a presence in Mexico, Colombia, Chile, Peru, Paraguay, Uruguay, the UK, Portugal and India.

According to a statement, the company's turnover saw a 34% surge in 2016. Currently, it employs a staff of 80.

People
Apposite Capital – David Porter (managing partner); Sam Gray (partner).
NIMGenetics – Enrique Samper Rodríguez (CEO).

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• Topics
• Buyouts
• Healthcare
• Southern Europe
• Spain
• Minority investing
• Apposite Capital