JBR and RSM accompany cross-border deal in healthcare sector

Hospidex acquires 100% stake in NC Medical

Dutch NC Medical has been incorporated by its Belgian industry peer Hospidex. JBR and RSM acted as financial M&A advisors during the transaction.

With the acquisition of the Zoetermeer-based company, Hospidex expands its presence in the Dutch healthcare services market. The company specializes in the import, distribution and commercialization of medical equipment and is mainly active in Belgium, France, Germany, Austria and Switzerland. Hospidex achieved sales of over €33 million last year with 45 employees.

Hospidex's products focus on home health and wellness, measuring vital body parameters, preventing bedsores and safely disposing of medical waste. Moreover, the Belgian company has been the exclusive distributor of Vernacare products in Belgium and France since 2020.

"With Hospidex, we are introducing innovative healthcare solutions that solve everyday problems for patients and healthcare personnel and improve the quality of care. NC Medical fits completely into this philosophy," said Hospidex CEO Hendrik Seghers.

NC Medical supplies disposable bedpans and disinfectants to healthcare facilities, among others. The company is also active in the corona segment. For example, it supplies syringes and needles for booster vaccinations against the corona virus.

"With the acquisition of NC Medical, hospitals and healthcare facilities within our portfolio will now also be able to call on NC Medical's long-standing expertise and products to make further strides in their infection prevention policies," Seghers said.

Deal Advisors

Hospidex and its majority shareholder Smile Invest received advice during the deal from RSM, which handled both the financial due diligence and tax advice. The deal team consisted of Marcel Vlaar, Steef van Kuijen and Maxime Moxon (due diligence) and Marco Jansze, Yvette Gorter, Sterre Strik and Frida Jonkers (tax advice). Lawyers from CORP. (Diederik Baas, Jim Koster) provided the legal M&A advice.

NC Medical (approximately 15 employees and sales of around €3 million) was assisted by JBR (deal team: Caspar van der Geest, Thomas van Amerongen and Gustian van der Linde) during the transaction.

Cindy Hoogteijling of Wijn&Stael law firm provided legal support.

NC Medical's Managing Director Mike van Schie remains on board with Hospidex and will lead the combined company's Dutch operations.

Smile Invest, an investment company owned by Flemish entrepreneur Urbain Vandeurzen, has invested in a series of Belgian and Dutch growth companies in recent years, such as photonics company Effect Photonics and mold manufacturer IGS.

Source: Consultancy.co.uk