Clearwater International advises Symphony Technology Group on its sale of quCARE solutions to Nexus AG
Clearwater International advises Symphony Technology Group on the sale of quCARE Solutions to Nexus AG
Clearwater International has advised Symphony Technology Group (STG), a Silicon Valley based private equity firm, on the sale of quCARE Solutions, an eHealth software vendor to hospitals and mental health institutions, to Nexus AG, a developer and provider of IT solutions for the healthcare industry.
STG is a hands-on private equity firm with €1.9bn ($2bn) under management, focusing on data analytics and SaaS companies.
quCARE Solutions is one of the top three vendors of eHealth software to hospitals and mental healthcare institutions in the Netherlands. With 110 employees, the company generated turnover of approximately €15m in 2014. Prior to being acquired by STG in 2014, quCARE Solutions was known as McKesson Netherlands.
Quoted on the Frankfurt Stock Exchange, Nexus AG provides IT solutions that allow hospitals, rehabilitation, and social institutions to convert to digital patient information. The company employs over 700 staff and had a turnover of €74m with an EBITDA of €14m, in 2013.
STG acquired quCARE Solutions through its acquisition of the European healthcare technology activities of McKesson Corporation. Today’s acquisition is another step towards Nexus AG’s goal of becoming a leading European eHealth company.