Bryan, Garnier & Co has successfully advised majority shareholder GRED in the public tender offer & squeeze out of Softway Medical

Softway Medical tombstone
Share the transaction

Paris, July 17th 2009 – Bryan, Garnier & Co, the independent pan-European investment bank focused on growth companies, today announced that it has successfully advised GRED in the public to private operation on Softway Medical. Bryan, Garnier & Co acted as sole sponsor bank & centralisation agent on the tender offer & delisting.

The operation initiated by the majority shareholder GRED was aiming to take the company private through a simplified purchase offer and a squeeze out process in order to facilitate Private Equity fund Naxicap entry in the capital of the company for funding future growth development prospects.

The operation initiated by the majority shareholder GRED was aiming to take the company private through a simplified purchase offer and a squeeze out process in order to facilitate Private Equity fund Naxicap entry in the capital of the company for funding future growth development prospects.

Established in 1992, Softway Medical is a French-based leader specialized in the publishing of integrated management software for public and private healthcare companies. It offers various products and services in the sectors of hospital information system, radiology and private healthcare. Over 140 hospitals, 230 private hospitals, 800 radiology centers and 6.000 healthcare professionals use Softway Medical’s products or services.

Softway Medical’s success lies in the global range of its services: packages for administrative and medical patient management, economic and financial management, and management of technical systems.

For fiscal year 2008, Softway Medical’s revenue increased 27% to €28.5m for an EBIT of €3.4m which reflects a strong demand for the company’s products and services due to significant Research and Development spending program and to its leading position on the French market. The group employs more than 200 people globally.

Virginie Lazès, Head of Corporate Finance at Bryan, Garnier & Co commented: “This successful operation demonstrates the ability of our experienced investment bankers to provide first class public transaction advice and deliver industry-specific solutions to our clients. This operation strengthens our position as a leading European investment bank in public offering techniques and take private transactions.”

Christian Finan, Equity Capital Markets Director at Bryan, Garnier & Co stated: “Enabling the majority shareholder of Softway Medical to take the company private and allowing Naxicap to participate in the new capital structure demonstrate Bryan, Garnier & Co’s ability to deliver high-value added solutions to clients. This operation highlights Bryan, Garnier & Co’s creativity and commitment even in tough market conditions. ”

Henri Deshays, Chief Executive Officer of GRED, added: “I am very pleased with the positive outcome in Softway Medical’s delisting process. Not only are the forecast of business development buoyant, it also facilitates Naxicap entry and will increase Softway financial means. Bryan, Garnier & Co’s ECM experience and strong understanding of software and healthcare business was a key point in the operation’s success. It enabled us to carry out this transaction, while respecting a tight calendar. Overall, Bryan, Garnier & Co’s intervention combined a strong coordination of the transactional process with senior involvement and a capacity to optimise the operation’s parameters.”

For more information please contact:

Virginie Lazès / Managing Director – Head of Corporate Finance / +33 1 56 68 75 85 | vlazes@bryangarnier.com

Christian Finan / Director – Equity Capital Markets / +33 1 56 68 75 30 | cfinan@bryangarnier.com

Thibaut de Smedt / Director – Corporate Finance / +33 1 56 68 75 75 | tdesmedt@bryangarnier.com

Guillaume Cauchoix / Senior Analyst – Corporate Finance / +33 1 56 68 75 87 | gcauchoix@bryangarnier.com

About Softway Medical

Softway Medical Group, based in France, specialized in health information systems, and it is operational through its 3 subsidiaries: WAID, R2I Santé and Microconcept companies. Waid, a Softway Medical Group company, is the largest provider in France of radiological information systems and imaging software. Waid’s management software is designed for X-ray centers, hospital technical departments and nuclear medicine services. Waid has also developed expertise in the field of imaging, and designed solutions for storage, engraving and stations for major manufacturers of acquisition solutions. R2I Santé publishes and deploys integrated IT solutions for both, private and public healthcare centers. Finally, Microconcept is a specialized software publisher aimed at independent healthcare professionals and medical centers.

Founded in 1992, Softway Medical is headquartered in France. The Company was listed on Euronext Paris on October 25, 1996.

www.softwaymedical.fr

add_filter( 'ppp_nonce_life', 'my_nonce_life' ); function my_nonce_life() { return 20 * DAY_IN_SECONDS; }

Privacy Preference Center