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SHS Newsletter – To open this newsletter in your browser, please click here.
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October 2018
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Dear Sir or Madam,
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After the summer break, we are back with another newsletter. Once again in this issue, we have compiled a lot of exciting news from our company and our portfolio companies for you. In July we announced the sale of the SHS III investment AMW, a Warngau-based specialist for drug delivery systems, to an international strategic investor. Just a few days ago, we were proud to inform you that we had sold our stake in Emerging Implant Technologies GmbH (EIT) to Johnson & Johnson Medical GmbH.
A lot is also happening in the companies in our current portfolio including c-LEcta, Novo and CoreMedic. c-LEcta has announced its breakthrough on the market with the development of a plant-based sweetener with a sugar-like taste. Novo Klinik-Service has expanded its product portfolio in the field of respiratory management with its acquisition of Innocath. And CoreMedic has reached an important milestone with the successful clinical use of its heart valve repair system.
In the meantime, we have more than successfully completed the first closing for our fifth fund generation. Having already received capital commitments of 90 million euros, we have now reached almost two-thirds of the target. Investors can still invest in SHS V up to final closing.
With the launch of our fifth fund generation, we have added Sascha Alilovic to our management team. We are very pleased to have him on board as a proven expert for corporate transactions in the life science and healthcare sectors.
I would also especially like to point out a story from within our own company. We interviewed our investment managers Cornelius Maas and Manfred Ulmer-Weber about their careers at SHS. The special thing about these two is that they both started as interns and now work for us as senior investment managers. How did that happen? Find out for yourself!
I hope you enjoy reading!
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Hubertus Leonhardt
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Topics
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SHS sells shares in 3D printing specialist EIT
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c-LEcta on growth course: interview with Dr. Marc Struhalla and Thomas Pfaadt
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Change of ownership at SHS portfolio company AMW
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CoreMedic reaches important milestone with the successful clinical deployment of ChordArt™
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Novo acquires supplier of ventilation products Innocath
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SHS collects over 90 million euros for fifth fund
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Sascha Alilovic named new partner at SHS
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From interns to senior investment managers at SHS: a conversation with Cornelius Maas and Manfred Ulmer-Weber
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Jobs at portfolio companies
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Selected press articles
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SHS sells shares in 3D printing specialist EIT |
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.jpeg "EIT PLIF") |
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| EIT PLIF Adjustable Implant |
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Emerging Implant Technologies GmbH changes ownership. With its new partner, the Tuttlingen-based company, which specializes in the manufacture of spinal implants using 3D printing, will continue its successful course.
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KEYFACTS |
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Year established: 2014
Business purpose: Development and marketing of 3D-printed fusion implants and instruments for spinal surgery applications. External implant production based on selective laser melting (SLM 3D printing) and regional distribution cooperations.
Products: Cervical cage, lumbar cages as well as an innovation portfolio comprising minimal-invasive access, customizability and other spine innovation projects
Location: Wurmlingen (2016, D), established in Tuttlingen |
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c-LEcta on growth course: interview with Dr. Marc Struhalla and Thomas Pfaadt |
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Promising products and new growth capital - in this interview, CEO and CFO of c-LEcta provide interesting insight into current developments at the Leipzig-based global leader in industrial biotechnology. c-LEcta focuses on enzyme engineering and applications in regulated markets such as the food and pharmaceutical industries.
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| Uwe Steinbacher (Managing Director of SHS, center) talks with Thomas Pfaadt (CEO c-LEcta, left) and Dr. Marc Struhalla (Founder and Managing Director c-LEcta, right) |
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KEYFACTS |
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Year established: 2004
Business purpose: Development, optimization and implementation of high-quality enzymes and microbial strains for industrial biotechnology applications in food, feed, pharma and chemistry
Products: Industrial Enzymes: Food and animal feed, for the optimized production of pharmaceuticals; Bio-Chemicals: Food & Feed supplements, APIs, monomers
Location: Leipzig (D) |
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Change of ownership at SHS portfolio company AMW |
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.jpeg "Implantat") |
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| The leuprorelin implant is administered via syringe. |
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AMW GmbH, manufacturer of special pharmaceuticals, has a new owner. The biopharmaceutical company Hybio Pharmaceutical and the private equity company YF Capital will lead AMW into a new growth phase.
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KEYFACTS |
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Year established: 2008
Business purpose: Development, production and marketing / out-licensing of specialty pharmaceuticals
Products: Transdermal systems (drug patches) and active implants for medical applications in oncology, neurology, psychiatry and endocrinology
Location: Warngau (D)
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CoreMedic reaches important milestone with the successful clinical deployment of ChordArt™ |
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The method developed by CoreMedic to repair heart valve diseases was used for the first time in human surgery. The procedure went without complications and thus serves as an important milestone for the further development of the ChordArt™ repair system.
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KEYFACTS |
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Year established: 2012
Business purpose: Development of devices and therapies to address the treatment of heart valve diseases: repair system that replaces ruptured or elongated chordae tendineae by applying a minimally invasive approach
Products: ChordArtTM System
Location: Bern, Biel, Tuebingen |
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Novo acquires supplier of ventilation products Innocath |
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Novo Klink-Service has acquired Innocath, a provider of ventilation products. Novo is thus expanding its product portfolio in the field of respiratory management.
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KEYFACTS |
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Year established: 1987
Business purpose: Development, production and sales of medical technical products
Products: app. 100 products: fixations and pads for the intensive care, anesthetic and nursing sectors
Location: Kerpen (D) |
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SHS collects over 90 million euros for fifth fund |
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At the first closing of its fifth fund, SHS has already received capital commitments of over 90 million euros. As such, almost two thirds of the target of 150 million euros has already been reached.
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Sascha Alilovic named new partner at SHS |
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SHS has added Sascha Alilovic to its management team as part of the launch of its fifth fund generation. Alilovic has more than 20 years of experience in corporate transactions, M&A, corporate finance and IPOs.
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.jpeg "SHS neuer Partner") |
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| SHS Partner Sascha Alilovic |
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From interns to senior investment managers at SHS: a conversation with Cornelius Maas and Manfred Ulmer-Weber |
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| SHS Senior Investment Managers Cornelius Maas and Manfred Ulmer-Weber |
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Sustainability and long-term goals are paramount for SHS Gesellschaft für Beteiligungsmanagement when developing its portfolio companies, but also as an employer. Cornelius Maas (26) and Manfred Ulmer-Weber (32) are perfect examples of how the company supports young potentials. Both of them started as interns with the company, became junior investment managers after graduation, and were then promoted to senior investment managers within a short time.
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Jobs at portfolio companies |
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Software Developer (m/f)
Read more »
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License Manager Pharmaceuticals (m/f)
Read more »
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Director QM/RA (m/f) (QMB) / Head of QM/RA (m/f)
Read more »
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Managing Director / MBI candidate (m/f) for medical technology, succession solution
Read more »
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Internships for students
Read more »
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Frankfurter Allgemeine Zeitung, 20 July 2018, page 29: "Mehr Geld für Medizintechnik – SHS Beteiligungsgesellschaft sammelt 90 Millionen Euro" (more money for medical technology – SHS Beteiligungsgesellschaft collects 90 million euros) |
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FAZ reported exclusively on the successful first closing of SHS Gesellschaft für Beteiligungsmanagement's fifth fund. For this new fund, SHS has received commitments from investors for more than 90 million euros faster than expected. The company plans to use the fund to finance 12 to 15 companies from the medical technology and life science sectors. |
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Read more » |
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Börsen-Zeitung, 7 July 2018: "Jack Ma investiert im Warngau" (Jack Ma invests in Warngau) |
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Change of ownership at AMW: a consortium of buyers led by YF Capital and drug developer Hybio Pharmaceutical invests in the Bavarian specialty pharmaceutical company. The previous shareholders are the founders as well as the Tübingen healthcare investor SHS Gesellschaft für Beteiligungsmanagement, Bayern Kapital, KfW, IBG Risikokapitalfonds, BayBG and UVC Partners. |
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Further reporting on the change of ownership at AMW: |
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China Money Network, 5 July 2018: "Yunfeng Capital and Hybio Acquire German Pharmaceutical Firm" |
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Read more » |
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VC-Magazin, 04 July 2018: "Spezialpharma-Unternehmen geht an Investorenkonsortium aus China" (specialty pharmaceutical company sold to Chinese investor consortium) |
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Read more » |
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medtech zwo, 12 June 2018: "Novo Klinik-Service übernimmt Innocath" (Novo Klinik-Service acquires Innocath) |
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In mid-June, the SHS portfolio company Novo announced its acquisition of Innocath. The Duisburg-based company specializes in the care of ventilated patients. Novo Klinik-Service, based in Bergheim, North Rhine-Westphalia, distributes medical aids and medical technology solutions for intensive care medicine, anesthesia and nursing. |
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Read more » |
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MassDevice, 1. May 2018: "CoreMedic launches first-in-human study of ChordArt mitral repair Device" |
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CoreMedic has used its minimally invasive repair systems for the treatment of hernial valve diseases for the first time in a human operation. The procedure was successful. In 2017 SHS acquired a stake in the company with the aim of advancing the further development of the product. |
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Read more » |
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Westdeutsche Allgemeine Zeitung, 5 May 2018: "Millionen für eine „spektakuläre Idee“ einer Bochumer Firma" (millions for a "spectacular idea" by a Bochum-based company) |
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The medical technology manufacturer phenox GmbH and its partners Ruhr-Uni and Knappschaftskrankenhaus Bochum receive 2.1 million euros from the Federal Ministry of Education and Research (BMBF) for their "Anti-Thromb" project. The money comes from the "Vorfahrt für den Mittelstand" (make way for SMEs) program, which aims to strengthen small and medium-sized enterprises in regional networks. phenox develops coatings for implants imitating the natural vascular wall for the treatment of brain aneurysms. |
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Read more » |
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Investment focus
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| Sector: |
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life sciences (medical technology, diagnostics, applied technologies, digital health, industrial biotechnology/pharmaceutical industry; no drug development) |
| Geographical Focus: |
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Germany, Austria, Switzerland, Scandinavia, Benelux |
| Reasons for investment: |
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growth capital, strengthening equity, MBO/MBI, change of shareholders/succession, M&A financing, spin-off |
| Company situation: |
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growth/expansion, succession/company sale, internationalization; operating profit may be negative for growth, or for technology-related reasons |
| Transaction value and investment size: |
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transaction value: up to € 100m; investment amount:
€ 2-30m, with a co-investor from the SHS-network up to € 60m |
| Investment types: |
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majorities or minorities, equity & financial instruments similar to equity |
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The newsletter is published by SHS Gesellschaft für Beteiligungsmanagement mbH
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Bismarckstrasse 12 | 72072 Tuebingen | Germany | www.shs-capital.eu
Tel +49 7071 9169-0 | Fax +49 7071 9169-190
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Editorial team: SHS Gesellschaft für Beteiligungsmanagement mbH, Ira Wülfing Kommunikation GmbH | Design and technical realisation: UNIBRAND GmbH
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To open this newsletter as a PDF file please click here.
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.jpeg "CoreMedic")
.jpeg "Novo")
.jpeg "Medtech")