November 3, 2025 – London: Jacobs Capital (“Jacobs”) has completed the sale of Stingray Healthcare (“Stingray”), a leading European radiotherapy group, to Amethyst Radiotherapy (“Amethyst”), a portfolio company of Fremman Capital (“Fremman”).
Since Jacobs partnered with Stingray management to establish the company in 2017, it has developed into a leading provider of high quality and innovative cancer treatments in Europe. Today, the company operates more than 20 linear accelerators and Gamma Knife machines over 11 outpatient facilities, treating over 11,000 radiotherapy and radiosurgery patients annually. Over the past few years Stingray has rapidly grown into a market leader in Germany and France through acquisitions and organic initiatives.
The transaction completed reinforces Stingray and the newly combined group’s position as the leader in cancer care across Europe.
Philippe Jacobs, Co-Chairman and Founder of Jacobs notes: “We are very proud of what we have achieved with Stingray. The doctor-centric business model has proven to be highly successful as it promotes innovation and growth, and supports excellent patient care and outcomes.”
Sami Kassam, Head of Healthcare at Jacobs adds: “We would like to thank Stingray’s management team for the successful partnership in founding and developing the company into a differentiated market leader. This transaction marks our third successful exit in healthcare. We continue to seek partnerships with exceptional management teams to support them in building leading healthcare businesses across Europe.”
Ralph Hefti, CEO of Stingray concludes: “In just a few years we have become a leading European platform for radiotherapy and oncology services. This would not have been possible without our partnership with Jacobs, and we thank the team for its great support and the resources made available. The management team are excited to continue on this path together with Fremman, with the ambition to develop further the reference platform in cancer care in Europe.”
Jacobs continues to invest in healthcare across Europe, focusing on leading businesses across Healthcare Services, Pharma Services and Medtech. In addition to Stingray, Jacobs is currently invested in leading healthcare platforms such as Colosseum Dental Group, North American Dental Group and Helios Global Group.
Jacobs was advised by Rothschild & Co (M&A), Linklaters, Forvis Mazars and Winston & Strawn (Legal), PWC (Financial and Tax), and BCG (Commercial).
