Nexxus Iberia nets 4.2x on Bienzobas exit to trade

The parties have agreed on an extra earn-out of EUR 18m contingent on Bienzobas' 2022 EBITDA, according to a company announcement.

Nexxus Iberia acquired the company in February 2020 via its debut fund, Nexxus Iberia Private Equity Fund I. The sale is the firm's second exit, returning an IRR of 88%. 

Bienzobas had revenue of EUR 31m, up from EUR 20m in 2019, and an EBITDA of EUR 8.8m in 2021, according to analysts, as reported. 

The company's doctors provide direct treatment for cancer patients and consultancy services for hospitals and insurers, often using a proprietary platform that uses clinical data to assess the most efficient therapies.

Buyer Atrys said the deal allowed it to increase its care offer to patients, insurers, and hospital groups. It will finance the acquisition through equity in an accelerated bookbuild aimed at qualified domestic and foreign investors. 

Advisors 

Nexxus Iberia - EY (M&A)

Atrys - Mediobanca (M&A); Pinsent Masons (legal). 

People

Bienzobas - Eliseo and Paula García (founders); Marian Isach (CEO)

Nexxus Iberia - Alejandro Diazayas (managing partner); Maite Ballester (managing partner)

Atrys Health - Isabel Lozano (CEO)

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• Topics
• Healthcare
• Southern Europe
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