Vivo Diagnostico: Nexxus Iberia Acquires Majority Stake in Spanish Diagnostics Leader
Deal News | Nov 07, 2024 | Nexxus Iberia SGEIC SA
Nexxus Iberia, a Spanish private equity firm with approximately €500 million in assets under management, has acquired a majority stake in Vivo Diagnostico, a leading independent diagnostic imaging service provider in Spain. This marks the third investment by Nexxus Iberia Private Equity Fund II, which has total commitments of €241 million. Vivo Diagnostico, known for its comprehensive diagnostic services and innovation, operates a network of clinics predominantly in Andalusia, Madrid, and Aragon, and also provides services across Spain and Portugal. The company stands strong with €20 million in revenue in 2023, employing over 200 professionals and conducting over 400,000 tests annually. With this acquisition, Nexxus Iberia aims to leverage Vivo's established market position and drive further inorganic growth through a strategic focus on innovation and service quality. The transaction reinforces Nexxus Iberia's investment strategy, prioritizing sectors such as healthcare with significant growth potential. The founder of Vivo Diagnostico, Oscar Brihuega, will continue to hold a minority stake and an active role in the company's operations. The deal involved several advisors: Pinsent Masons covering legal, tax, and labor; Deloitte for financial due diligence; LEK for commercial due diligence; EY for ESG due diligence; Aon for insurance; and Ramon y Cajal and Socios Financieros advising the sellers.
Sectors
- Healthcare
- Private Equity
Geography
- Spain – Vivo Diagnostico is based in Spain and operates predominantly there as well as in Portugal, indicating the key geographical focus of the acquisition.
- Portugal – Vivo Diagnostico also provides services in Portugal, further emphasizing the geographical focus of its operations.
Industry
- Healthcare – The article focuses on Vivo Diagnostico which specializes in diagnostic imaging services, a key segment in the healthcare industry.
- Private Equity – Nexxus Iberia is a private equity firm engaging in investments in sectors such as healthcare, represented in their acquisition of Vivo Diagnostico.
Financials
- 500,000,000 – Assets under management by Nexxus Iberia.
- 20,000,000 – Revenue generated by Vivo Diagnostico in 2023.
- 241,000,000 – Total commitments of Nexxus Iberia Private Equity Fund II.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Nexxus Iberia | Bidding Company | Company | A Spanish private equity firm with around €500 million in assets under management. |
| Vivo Diagnostico | Target company | Company | A leading independent diagnostic imaging service provider in Spain, with significant operations in the Iberian Peninsula. |
| Oscar Brihuega | Founder/CEO | Person | Founder and current CEO of Vivo Diagnostico, remaining as a minority shareholder post-acquisition. |
| Pinsent Masons | Legal advisor to Nexxus Iberia | Company | Provided legal, tax, and labor advisory for the acquisition. |
| Deloitte | Financial due diligence | Company | Conducted financial due diligence for the transaction. |
| LEK | Commercial due diligence | Company | Performed commercial due diligence for the acquisition. |
| EY | ESG due diligence advisor | Company | Provided ESG due diligence services. |
| Aon | Insurance | Company | Provided insurance advisory during the transaction. |
| Ramon y Cajal | Legal advisor to Sellers | Company | Advised the sellers on legal matters during the transaction. |
| Socios Financieros | M&A advisor to Sellers | Company | Provided M&A advisory services to the sellers. |