Barings Supports Telemos Capital’s Growth of Sanoptis
Jul 17, 2019
Barings, one of the world’s leading financial services firms, today announced that it has served as mandated lead arranger on a senior secured credit facility to support Telemos Capital (“Telemos”) in their growth of Sanoptis, a European ophthalmology services group. Financial terms were not disclosed.
Headquartered in Pfäffikon, Switzerland, Sanoptis covers the full spectrum of diagnostic and surgical ophthalmic treatments, including cataract operations and intravitreal injections for age-related macular degeneration. With more than 500 employees, the Sanoptis group performed over 300,000 diagnostic consultations and more than 50,000 surgical procedures in 2018. The senior facilities have been partially utilised as acquisition financing in the establishment of the Sanoptis group and will continue to be used to support the company’s exciting buy-and-build strategy.
“Sanoptis is a market leading platform, poised for continued consolidation in the highly fragmented ophthalmology space in Europe,” said Sebastian Lorenz of Barings. “We are delighted that Telemos has chosen Barings to be the group’s financing partner. This transaction represents a milestone first deal closed with Telemos and we are looking forward to supporting them as they continue to grow the Sanoptis network.”
“The European ophthalmology services market represents an attractive investment opportunity and Sanoptis partners with leading ophthalmologists to provide high levels of patient care,” said Nils Hagerstål and Dipesh Mahtani of Telemos. “It has been a pleasure working with Barings. The team is supportive of Sanoptis’ growth strategy and shares our vision for the group’s international network expansion. The flexible financing solution provided by Barings will support the group in achieving its ambitions to create the leading pan-European ophthalmology services platform.”
Barings is a $317+ billion* global financial services firm dedicated to meeting the evolving investment and capital needs of our clients and customers. Through active asset management and direct origination, we provide innovative solutions and access to differentiated opportunities across public and private capital markets. A subsidiary of MassMutual, Barings maintains a strong global presence with business and investment professionals located across North America, Europe and Asia Pacific.
*As of March 31, 2019
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