TA launches voluntary takeover offer for Nexus

• The offer implies an equity valuation for Nexus of around €1.21bn
• TA intends to delist Nexus from the stock exchange in due course
• Nexus is based in Donaueschingen, Germany

TA Associates has agreed on a strategic partnership and a voluntary public takeover offer for Nexus, a European e-health software company.

The offer is valued at a price of €70.00 per share in cash, which implies an equity valuation for Nexus of around €1.21 billion.

The price represents a premium of 35.3 percent to the volume-weighted average price of the Nexus share over the past three months and a premium of 44.2 percent to the closing price on 4 November.

TA has entered irrevocable undertakings for around 26.9 percent of Nexus shares, including with members of the management board and supervisory board, Luxempart and other long-term shareholders.

The deal aims to capitalize on the market potential of the “rapidly growing” European e-health market and to promote further profitable growth for Nexus, according to a release.

“TA has followed Nexus’s growth trajectory for many years as the company has established itself as a leading provider of healthcare IT solutions in Germany, Switzerland and Europe,” said Stefan Dandl, Director at TA, in a statement.

“We believe Nexus AG is well positioned to continue to grow and innovate with its modern technology platform, extensive industry-leading product portfolio and strong customer focus,” said Birker Bahnsen, managing director at TA, in a statement. The firm will look to “expand the business through a combination of strategic acquisitions and significant R&D investment in cloud and AI technologies.”

If the deal is successful, TA intends to delist Nexus from the stock exchange in due course after settlement of the takeover.

The management of the company will remain with the current management board of Nexus. Nexus’ headquarters in Donaueschingen, Germany and all other key locations are to be retained.

Nexus has a broad and interoperable product range that can cover almost all functional requirements of hospitals, psychiatric clinics, rehabilitation and diagnostic centers within its own product families. It employs around 2,030 people and has sites in nine European countries.

TA is a global private equity firm that invests in technology, healthcare, financial services, consumer and business services sectors.

TA is supported by Barclays as financial advisor and Kirkland & Ellis International as legal advisor.