CBPE sells SpaMedica to Nordic Capital-backed Ober Scharrer

The deal values the company at around £300m. A source close to the situation told Unquote the firm generated a 6.6x return.

SpaMedica is to be merged with Ober Scharrer Group, a Germany-based opthamology outpatient chain that Nordic Capital acquired in March 2018. The group has pursued a buy-and-build strategy during the course of the holding period.

Nordic Capital is currently investing from its ninth fund, Nordic Capital IX, which closed on €4.3bn in May 2018. The fund was 30% deployed as of December 2019.

SpaMedica was a CBPE Capital Fund IX portfolio company. The fund closed on £459m in August 2016 and has made one other realisation: the sale of ABI Holiday Homes to a consortium of its management team and Pricoa Private Capital.

CBPE and Nordic Capital declined to comment.

Previous funding
In September 2016, CBPE invested with management to acquire a majority stake in SpaMedica.

Company
Founded in 2008 and based in Manchester, SpaMedica provides medical and surgical eye patient services. It offers various vision-related treatments, such as cataract surgery, age-related macular degeneration, diabetic retinopathy, eyelid tumours, sight correction, ptosis, glaucoma, implantable contact lenses and multifocal lens implants.

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• Topics
• Exits
• Expansion
• UK / Ireland
• Healthcare
• United Kingdom
• healthcare
• Trade sale
• Build-up
• Buy-and-build