Advestra: GBL acquires a majority stake in Sanoptis

Groupe Bruxelles Lam­bert (GBL) acquires a major­ity stake in San­optis, a net­work of oph­thal­mo­logy clin­ics across Ger­many and Switzer­land, from the private equity Telemos Cap­it­al. GBL is com­mit­ting up to EUR 750 mil­lion in equity for this trans­ac­tion with the aim to accelerate the company’s growth in partnership with its management and doctors.

In this sense, as part of the transaction, the incumbent management will increase its stake in the company by way of a substantial reinvestment. GBL and management plan to continue together the impressive growth story of Sanoptis, both in existing markets as well as in new ones.

Founded in 2018, San­optis is an European oph­thal­mo­logy ser­vices pro­vider with over 250 facil­it­ies, serving both pub­licly and privately insured patients. With approximately EUR 300 million of revenue in 2021, the company has a unique business model; it targets active partnerships with leading surgeons who remain shareholders in their clinics after joining the Sanoptis group.

Groupe Bruxelles Lambert (GBL) is an established investment holding company, with over sixty years of stock exchange listing, a net asset value of EUR 22.5 billion and a market capitalization of EUR 15.3 billion at the end of December 2021. This transaction marks GBL’s second consecutive private investment in the healthcare sector in 2022. Healthcare is one of GBL’s four focus investment sectors, along with consumer experience, technology and sustainability.

Advestra acts as Swiss leg­al coun­sel to GBL in this trans­ac­tion. The team includes Beda Kaufmann (partner, pictured), Alex­an­der von Jein­sen, Anna Capaul and Alex­an­der Fisch (all cor­por­ate/m&a).