German Equity Partners IV (‘GEP IV’ or ‘the fund’), a fund managed by the independent German investment firm ECM Equity Capital Management GmbH (‘ECM’), has acquired a stake in DERMATOLOGIKUM HAMBURG, one of Europe’s largest private medical facilities specialized in the diagnostics and therapy of skin disorders. As part of the transaction, the fund acquires both, DERMATOLOGIKUM HAMBURG, the internationally acclaimed competence center covering the entire spectrum of treatments in the field of dermatology, and its affiliate Dermatology Diagnostics, which offers integrated dermatology laboratory diagnostics. The previous owners – a partnership around the company’s founder Prof. Dr. Volker Steinkraus – will remain invested in the company and will continue to actively shape it with their medical competence and entrepreneurial experience. The transaction closed on October 4, 2016. The parties have agreed to not disclose the purchase price or any additional details of the transaction.
Nationwide leading competence center for dermatology and vascular surgery
With more than 100,000 patient examinations per year, DERMATOLOGIKUM HAMBURG ranks amongst the leading providers of diagnostics and therapy of skin disorders in Europe. Since its establishment as a jointly operated private dermatology practice in 1997, DERMATOLOGIKUM HAMBURG has gained an excellent reputation as a leading competence center in the three areas including (I) medical, surgical and aesthetic dermatology with plastic surgery and allergology, (II) vascular surgery and (III) dermatological laboratory diagnostics. With its highly-qualified team of around 40 doctors, including 25 medical specialists, and 150 employees as well as its state-of-the-art technical equipment, DERMATOLOGIKUM HAMBURG offers its patients first-class medical know-how, innovative treatment methods and outstanding service quality across the entire spectrum of dermatological therapies. Also DERMATOLOGIKUM HAMBURG operates one of Germany’s largest vascular surgery units, which has established itself as European vascular competence center, performing more than 3,600 minimally invasive operations per year. Additionally, DERMATOLOGIKUM HAMBURG has received a certification as a private hospital in the first quarter of 2016 and is capable of conducting medical operations which require subsequent stationary surveillance of patients as well.
Further growth potential due to demographic change and fragmented market
Thanks to its excellent medical competence as well as the strong focus on quality services, DERMATOLOGIKUM HAMBURG has a large number of recurring patients and has been showing solid growth rates. Additional opportunities for strong growth of the business are inherent in Europe’s demographic development with an aging population. Together with ECM and the fund GEP IV, DERMATOLOGIKUM HAMBURG aims to continue its successful growth course and meet the growing demands in the health market with high quality services. Additional organic growth includes the expansion of the spectrum of medical services (i.e. dermatology outpatient services, dermatological oncology as well as the vascular surgery unit) and the expansion of laboratory diagnostics. In particular, the focus will be on the laboratory diagnostics, given that classic microscopic methods are increasingly replaced or enhanced with molecular or genetic analyses. Additionally, the gradually initiated expansion of aesthetic and plastic surgery is to be established as a fourth business pillar and positioned across medical disciplines.
Continuity in management and expansion of executive board
Following the investment by GEP IV, DERMATOLOGIKUM HAMBURG will continue to be led by its founder and managing partner, Prof. Dr. Volker Steinkraus. The team of senior medical staff, Dr. Norbert Blödorn-Schlicht, Dr. Désirée Hölscher and the founder of the vascular surgery department, Dr. Jens Alm, will also retain stakes in the company while at the same time continuing to serve in their medical leadership positions. Alongside Prof. Dr. Steinkraus, Dr. Alm will be appointed as second managing partner.
Prof. Dr. Volker Steinkraus, founder and managing partner of DERMATOLOGIKUM HAMBURG, said: “Over the past two decades we have achieved a leading position by continuously expanding our treatment and services offering and have established a reputation as one of Europe’s largest, specialized facilities that cover the entire spectrum of dermatological therapies. Skin – the largest human organ – is our passion. We are committed to the well-being of our patients and we intend to continue to offer them the best possible service quality and most state-of-the-art medical treatments. To address the manifold strategic challenges of the rapidly growing health market in the future, we need a strong partner at our side to realize continued growth and substantially develop our spectrum of services. We intend to implement these objectives together with ECM.”
Florian Kähler, partner at ECM, added: “With its integrated approach that comprises medical dermatology & allergology, vascular surgery and laboratory diagnostics, its outstanding medical competence and the proven service quality, DERMATOLOGIKUM HAMBURG has an excellent positioning. We are looking forward to strategically accompany Prof. Dr. Steinkraus and his team of outstanding medical professionals and jointly shape this expansion.”
For this transaction, GEP IV was advised by Ernst & Young (Finance & Tax). Legal consultation was provided by Allen & Overy, structuring by King & Wood Mallesons, market due diligence by goetzpartners and the insurance review by Willis. At ECM responsible for the transaction are Florian Kähler, Alexander Schönborn and Tobias Fuchs. Transaction consultation for the DERMATOLOGIKUM HAMBURG was provided by the M&A department of UniCredit and the financial/tax advice by Kanzlei Lothar Patz. Legal consultation was provided by Dr. Schwarz & Partner and Vorberg & Partner.
About DERMATOLOGIKUM HAMBURG
With 150 employees and close to 400 patient examinations per day, DERMATOLOGIKUM HAMBURG ranks amongst Europe’s largest specialized facilities for the diagnosis and therapy of skin disorders. The practice and day-care hospital for dermatology, allergology, operative and aesthetic dermatology, plastic surgery, vascular surgery and dermatological laboratory diagnostics was founded by Prof. Dr. Volker Steinkraus in 1997. Today, Prof. Dr. Steinkraus and a circle of partners are managing the clinic, which comprises its own on-site laboratories for histology, mycology, bacteriology and molecular biology and that also carries out proprietary clinical research for the development of new therapy methods. Additional information at: www.dermatologikum.de
On behalf of ECM:
Charles Barker Corporate Communications GmbH
Jan Hromadko, Kornelia Spodzieja, telephone: +49 (0)69 7940 9044
Jan.Hromadko@charlesbarker.de, Kornelia.Spodzieja@charlesbarker.de
On behalf of DERMATOLOGIKUM HAMBURG:
Nicola Sieverling, Telefon +49 (0)40 429 358 43
redaktion@nicola-sieverling.de