Telemos Capital (“Telemos”) announces that its portfolio company Stingray Healthcare, a leading European cancer care group, has successfully secured debt financing from Ardian. The senior facilities have been partially utilised as acquisition financing of Stingray Healthcare’s first French acquisition and will continue to be used to support the company’s exciting buy-and-build strategy.
The financing is reflective of the strength of Stingray Healthcare’s proposition and ability to execute on the organic and inorganic growth opportunities within the European cancer care market, with three radiotherapy centres already acquired since establishment.
Nils Hagerstål and Dipesh Mahtani of Telemos said: “We are delighted to have secured debt financing for Stingray Healthcare, which reinforces the strength of the strategy and execution capabilities of the management team. Ardian have shown themselves to be ideal partners to flexibly support Stingray Healthcare as it pursues its ambitious buy-and-build strategy.”
Ralph Hefti, Stingray Healthcare’s CEO, commented: “Ardian’s ability to offer a flexible solution to the Group’s requirements was key to this partnership. Ardian has been extremely responsive and creative and has set up financing that is very well suited to the way Stingray Healthcare intends to move forward.”
Guillaume Chinardet, Head of Ardian Private Debt France, said: “We look forward to the long term cooperation with the Stingray Healthcare management team and Telemos Capital, valuable partners with strong expertise in the European healthcare services market. We are convinced that Stingray Healthcare will achieve further growth via strategic acquisitions in the fragmented European radiotherapy market.”
Note: Stingray Healthcare at the time was called MedEuropa, prior to rebranding in September 2022.
