GBL recently acquired a majority stake in Sanoptis, which operates a network of ophthalmology clinics across Germany and Switzerland. As part of the transaction, the incumbent management will also meaningfully increase their stakes in the company by way of substantial re-investment.

Founded in 2018, Sanoptis has achieved significant growth to become the second largest ophthalmology services provider in Europe with over 250 facilities, serving both publicly and privately insured patients. The company offers both conservative ophthalmology consultations and surgical treatments including cataract surgeries, intravitreal operative medicine injections, laser eye surgeries and retina surgeries. Sanoptis performs over 1.3 million consultations and 170,000 surgical procedures annually, whilst adhering to the highest standards of healthcare through its unique surgeon partnership model, leading doctor base and quality management.

Barings has been an established lender to Sanoptis since 2019, providing financing for the company’s successful organic and in-organic growth strategy during the former ownership by Telemos. The new senior secured financing package supports the buyout of Sanoptis by GBL and provides significant committed acquisition facilities to support the group’s continued consolidation ambitions.

Priyanka Surya, Director at Barings, said: “Sanoptis has been a top-quality asset in Barings private credit portfolio, demonstrating impressive and resilient growth in the DACH ophthalmology sector. We are delighted to complete our first transaction with GBL and to continue supporting Management’s ambitious growth strategy. We firmly believe that GBL’s approach will further solidify Sanoptis’ leading position across Europe.”

Volker Wendel, Founder and CEO of Sanoptis: “We appreciate Barings’ continued support, particularly for having scaled their financing to match our growth strategy. We are excited to realise our vision for Sanoptis across the DACH region and new European markets alongside our new partners, GBL.”

About Barings 
Barings is a $371+ billion* global investment manager sourcing differentiated opportunities and building long-term portfolios across public and private fixed income, real estate, and specialist equity markets. With investment professionals based in North America, Europe and Asia Pacific, the firm, a subsidiary of MassMutual, aims to serve its clients, communities and employees, and is committed to sustainable practices and responsible investment. Learn more at www.barings.com.

*Assets under management as of March 31, 2022

 About GBL
Groupe Bruxelles Lambert is an established investment holding company, with over sixty years of stock exchange listing, a net asset value of EUR 21.3 billion and a market capitalization of EUR 14.7 billion at the end of March 2022. GBL is a leading investor in Europe, focused on long-term value creation and relying on a stable and supportive family shareholder base. GBL is both a responsible company and investor and perceives ESG factors as being inextricably linked to value creation.

GBL strives to maintain a diversified high-quality portfolio of listed and private assets as well as alternative investments (through Sienna Investment Managers, the group’s alternative investment platform), composed of global companies that are leaders in their sector, to which it can contribute to value creation by being an active professional investor. GBL is focused on delivering meaningful growth by providing attractive returns to its shareholders through a combination of growth in its net asset value, a sustainable dividend and share buybacks. GBL is listed on Euronext Brussels (Ticker: GBLB BB; ISIN code: BE0003797140) and is included in the BEL20 index.

About Telemos
Telemos comprises a team of highly experienced investment professionals that combine the best of private equity and permanent capital. Founded in 2017, Telemos identifies and supports exceptional management teams in consumer goods, healthcare services, and business services to help them realise their long-term objectives. As a flexible and nimble investor, Telemos' distinct structure and expertise make it a leading, new generation European private equity firm, looking to identify and unlock attractive opportunities for growth and value creation.