Page 13


Tecres, a leading medical technology company dedicated to the development of bone cements and bone substitutes and Keensight Capital, a leading player in European Growth Private Equity, today announce an investment in Demetra Holding, to create the independent worldwide leader in the bone cement and biomaterials space. This new Group, led by Tecres’ shareholders, combines two of the major players in the field of bone cement and biomaterials, Tecres S.p.A. (Italy-based) and aap Biomaterials GmbH (Germany-based) which will continue to act as separate entities with their own respective business strategies. The two companies have been able to position themselves as leaders on their respective segments through different business models and distribution strategies. Historically, aap has been focussing on the Contract Manufacturing (CMO) model, leveraging its solid reputation and high quality standards to supply world leading orthopaedic groups with its white-labelled products, while Tecres has developed its own-branded product line worldwide through disruptive product innovations such as the Spacer®, the first temporary prosthesis to treat post-operative infections and double antibiotic cements. Following the transaction, the two businesses will continue to act separately and to develop their business and commercial strategies. Moreover, this combination will allow the two entities to benefit from numerous industrial and R&D synergies, including biomaterials know-how, which shall foster the companies’ growth. Both management teams and operations will stay in place, with Tecres being led by Denis Faccioli (CEO) and aap Biomaterials by Daniel Zukowski (CEO). Demetra will count about 140 people and will operate in over 70 countries.

PARTIES INVOLVED IN THE OPERATION: > Investors: DEMETRA HOLDING (TECRES), Denis Faccioli, KEENSIGHT CAPITAL, Pierre Rémy, Jaana Grüter, Magdalena Svensson, David Piccoli, > Investors advisor (strategic due diligence): AVICENNE, Ali Madani > Investors legal advisors: PAUL HASTINGS, Olivier Deren, Sébastien Crépy, Allard de Waal, Thomas Pulcini, CPARTNERS > Advisor (financial VDD): Ernst & Young TS, Stéphane Seguin > Vendor financial advisor: ALTIUM, Sascha Pfeiffer, Raiko Stelten, Fabian Gehlhaar > Vendor legal advisor: TAYLOR WESSING, Dr. Thomas Dörmer, Marc-Oliver Kurth, Dr. Martin Rothermel

About AVICENNE Since 1990, AVICENNE team members have been working within the medical device industry for strategic and operational studies. They have advised major players in this industry (Medtronic, Stryker, Zimmer Biomet, Depuy, etc.) on development strategy and implementation, technical and economic appraisals as well as mergers and acquisitions. AVICENNE has also advised multiple Private Equity firms on acquisitions (US$ 50M+ value) and build-up. Additionally, AVICENNE have worked as consultants for small & medium-sized companies on entry strategies for new markets, adjacencies or new geographic territories as well as business model improvements and partnership strategies. Globally, AVICENNE has been involved in more than 400 projects for 150+ customers in the Medical Devices Industry. Avicenne has published several annual surveys like “European Orthopaedic Market 2015-2020” or “Worldwide Orthopaedic Contract Manufacturing market 2015-2020 and top 100 supplier profiles”. Ali Madani founded AVICENNE in 1992 and he is the speaker and chair at several medical device conferences worldwide. In 2005, he founded “IMPLANTS”, a medical device industry conference and exhibition, which he has chaired ever since. Contact:

AI Magazine May 2016  
AI Magazine May 2016