DGAP-News: Deutsche Beteiligungs AG / Keyword (s): Annual results / Investment
09.07.2021 / 18:45
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Deutsche Beteiligungs AG: Sale of the stake in blikk

Frankfurt am Main, July 9, 2021. Deutsche Beteiligungs AG (“DBAG”) successfully completed its investment in blikk, a radiology group, by selling its shares in blikk Holding GmbH (“blikk”) to EQT Infrastructure V, a fund managed by EQT, a global organization of ‘investment. The fund is long-term oriented and focuses on operational and industry specific development of companies. The participations held by DBAG Fund VII (advised by DBAG) and by the management of blikk will also be sold. The corresponding agreements were signed today. The parties have undertaken not to disclose the purchase price or the contractual details. As DBAG and DBAG Fund VII continue to see good development opportunities for blikk, they will use a significant portion of the proceeds for up to 15 percent reinvestment, with approximately up to three percentage points attributable to DBAG. The transaction is expected to close in the current quarter, subject to customary regulatory approvals.

The proceeds from the sale made by DBAG greatly exceed the valuation of the investment in DBAG’s latest interim financial statements in accordance with IFRS (as of March 31, 2021). The additional and unexpected contribution of value of approximately 26 million euros will increase the net asset value of the Private Equity Investments as well as the net result.

This contribution to value has not been included in the forecast for the net asset value of Private Equity Investments at September 30, 2021 and in the consolidated net income for fiscal year 2020/2021, as most recently stated on May 12, 2021. Latest forecast of DBAG for the net assets, the value at September 30, 2021 is between 450 and 505 million euros, excluding the net proceeds from the capital increase; The net result for the 2020/2021 financial year has been projected in a range of between 70 and 80 million euros. DBAG is currently in the process of compiling its quarterly statement as at June 30, 2021, which will incorporate the unexpected value contribution from the transaction. The two indicators mentioned above may be subject to other positive or negative effects of the valuation of the remaining portfolio companies at the closing date of June 30, 2021, as well as to other information obtained during the preparation. of the quarterly declaration.

First sale of the DBAG Fund VII portfolio
The sale of the stake in the blikk group is the first sale of a management buyout (MBO) of the DBAG Fund VII portfolio. The fund, whose investment period is still ongoing, structured ten MBOs between 2017 and 2021. DBAG Fund VII was the first so-called complementary fund to DBAG, making it possible to invest up to 200 million euros of funds clean in a single transaction, more than twice the amount usually targeted. 105.7 million euros have been invested in blikk Group, partly financed by the complementary fund. € 18.7 million came from DBAG, which owns an approximate 11% stake in blikk on a transparent basis. The radiology group’s MBO was agreed in March 2017. Due to a complex approval process, however, it only took effect in May 2019.

The blikk radiology group (www.blikk.de) comprises numerous radiology and nuclear medicine service centers, with around 30 locations, as well as a hospital. The regional hub of the blikk group is located in the German federal state of North Rhine-Westphalia (cities of Bochum, Herne and Unna) and in the German capital, Berlin. Around 150 doctors in the group’s practices care for around one million patients each year – offering the full spectrum of radiology and nuclear medicine services – from conventional x-rays to mammograms, ultrasounds, fluoroscopies, angiograms and CT scans to radiology interventional as well as magnetic resonance imaging (MRI). In addition to routine radiology services, thanks to its size and experience (as well as the required medical device technology), blikk group is able to accommodate and manage particularly difficult and rare cases, or specific problems. to patients with specialized medical staff and experts for all areas of radiology (including neuroradiology, cardiac, oncological, rheumatologic or pediatric radiology, as well as prostate imaging).

One of the leading providers of radiology services in Germany
Over the past four years, the blikk group has grown by adding new service centers and medical practices, and further acquisitions are planned. Turnover for the current year is expected to reach 103 million euros, or around 50 million euros more than at the start of the investment. Since then, intensive efforts have been made to improve patient services: for example, centralized planning has reduced waiting times, while quality has been further improved thanks to numerous medical experts. This enabled the group to acquire many referring physicians, with a corresponding increase in the number of patients. In addition, the size of the group facilitates the attraction of staff. Selected locations have been renovated, involving significant investments. Ultimately, blikk is regarded as one of the leading providers of radiology services in Germany.

“We have demonstrated that with resources provided by a financial investor, patient services can be significantly improved in this capital-intensive medical sector,” said Tom Alzin, Board Member of DBAG. “We wish to participate in the continued growth of the group through our reinvestment alongside the new financial backer. “

“DBAG has supported us as a true partner,” said Thilo Wittkämper MD, Managing Partner of the blikk group, adding: “With the additional capital to be provided for the development of the group, we will be able to further expand the scope of medical services offered. , and improve patient care. Our corporate goals of further improving quality for our patients and continuing to increase staff satisfaction across the blikk group remain valid – providing the basis for continued and successful growth. In this way, we will no less be able to contribute to solving the outstanding succession issues that many practices are facing. “

Thomas franke
Head of corporate communications
Email: [email protected]
Telephone: +49 69 95 787 307

07.09.2021 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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