KKR, CVC and Cinven: who are the great “sponsors” of the health business?

Misinas, from Latin MessinasIt means protector, favourite, benefactor and shepherd. A sponsor is someone who provides assistance to a cultural, artistic or scientific activity. Regardless of the cultural or artistic vision, it requires significant economic resources to achieve optimal development.

In the 21st century, the big investment funds are those that are betting on major healthcare groups around the world. Some of the major names are KKR, CVC, and Cinven.

KKR is one of the largest investment funds worldwide. It is an American multinational corporation, headquartered in New York.It was founded in 1976 by Jerome Kohlberg, Henry Kravis and George Roberts, who previously worked in the financial sector at Bear Stearns.

KKR is currently managed by Henry Kravis, George Roberts and a team of approximately 140 executives.Investment professionals, more than 300 employees, organized by interest centers and business groups. The fund has invested in more than 160 companies since 1977, and in healthcare, one of the companies in its portfolio is assisted reproduction giant IVI RMA.

KKR closed the purchase of Valencia-based IVI-RMA at the beginning of 2023

At the beginning of 2023, the American investment fund completed the purchase of the Valencian company IVI-RMA, which specializes in fertility treatments and was founded by Antonio Pellicer and José Rimohi, in a transaction valued at 3,000 million euros.

KKR explained the process through KKR Inception Bidco. The company was founded in January last year with a capital of 3,000 euros and is headquartered in Madrid. The company is run by one of KKR’s men in Spain, Jorge Loach-Boner, and has Inception Finco in Luxembourg as its sole partner.

The goal of the fund is to strengthen the company’s global leadership in the international arena, and generate synergies with GeneraLifeanother fertility company he previously owned.

KKR also holds a minority stake in Genesiscare. Headquartered in Sydney, Australia, GenesisCare is a healthcare company and one of the largest integrated oncology organizations in the world. The Group provides access to diagnostics, medical oncology, surgical oncology, radiotherapy and new treatments as well as the ability to participate in the latest clinical trials and in total has more than 400 centers around the world.

CVC acquired 80% of in vitro fertilization company Valencia (IVF Valencia).

CVC Capital Partners is another great investment firm. CVC was founded in London as Citicorp Venture Capital, a subsidiary of London-based bank Citigroup. Four years later, the group launched an office in Frankfurt, Germany, followed by offices in Paris, Milan and Amsterdam. In 1993, the company took the name by which it is known today and continued its expansion to other countries.

CVC opened its offices in Madrid in 1996Although it was not until 1999 that it made the leap to Asia, specifically to Hong Kong, to begin expanding across the region with the launch of branches in Seoul and Tokyo. The fund manages assets worth 90 thousand million euros.

CVC Partners is led by Donald McKenzie, who appears in the organizational chart as co-chairman and co-founder of the fund, where he has worked since 1988. In health, the London fund has just acquired 80% of the capital. In vitro fertilization Valencia (IVF).Valencia). The remaining 20% ​​of the private assisted reproduction group remains in the hands of the co-founder and medical director of the Valencian clinic, gynecologist Miguel Dolz Arroyo.

CVC also acquired Vitalia Home at the end of 2017, when it agreed to buy a majority of the capital from Spanish venture capital fund manager Portobello. The value of the operation was then estimated at approximately 300 million euros..

CVC also acquired Vitalia Home at the end of 2017

Cinfin is a British private equity fund manager founded in 1977. In 1995 it became independent from British Coal’s pension schemes and established its first independent fund in 1996. She leads the group, which manages capital on behalf of more than 200 investors worldwide . By Stuart McAlpine, Managing Partner since 2015.

The Anglo-Saxon manager acquired Stada in 2017 after spending more than 5,000 million euros. It is a German manufacturer of generic medicines, headquartered in Bad Vilbel. The company focuses on a strategy based on three pillars: consumer health products, generics and pharmaceutical specialties.

The laboratory markets its products in about 120 countries In 2022, it achieved revenues of €3,797 million and total operating results (EBITDA) of €884.7 million. As of December 31, 2022, Stada had 13,183 employees worldwide.

Cinven also controls approximately 40% of Synlab, one of the major groups of clinical and diagnostic analysis laboratories, with more than 5,000 assays in all areas such as genetic and pathological testing and diagnostic imaging. Annually, approximately 500 million examinations are performed on approximately 100 million patients.