Elaïs Capital invests in Santé Basque Developpement

Elaïs Capital has invested in Santé Basque Developpement. Financial terms weren’t announced. Santé Basque Developpement, of France, is an operator of mental health hospitals.

PRESS RELEASE

Paris, 31 August 2015 – Elaïs Capital announces the completion of its second deal with the subscription to convertible bonds issued by Santé Basque Developpement (« SBD »). In this primary transaction, a dedicated private equity fund managed by Elaïs Capital on behalf of 9 families becomes a significant investor in SBD alongside its founders, Olivier Amourous and Olivier Drevon. Through this transaction, SBD has also secured an additional equity line to finance the next steps of its development.

SBD was founded in 2011 by Olivier Amourous, a seasoned healthcare industry professional, and Olivier Drevon, an experienced psychiatrist, through the acquisition ofClinique Cantegrit, a mental health hospital with 42 beds located in Bayonne, with a view to build a leading player combining stringent ethical standards, superior quality of patient care and economic efficiency. In order to meet new needs identified in its region, SBD launched a day hospital unit in 2012 and a night hospital one in 2013.  In 2012, the group also integrated Clinique Argia, a mental health hospital located in Cambo-les-Bains, and in 2014 a unit specialized in eating disorders. With the acquisition of Clinique Béthanie, SBD becomes the leading private player in psychiatry in Aquitaine with more than 150 beds and places, 100 employees and an innovative medical project based on an open and evolutive psychiatry.

In addition, the group is currently finalizing the construction of a new facility at Château de Caradoc in Bayonne, where all its units of the Basque Country will be transferred at the end of 2015. The Caradoc unit will feature more than 100 beds and places, and will be one of the most modern private mental health hospitals in France. It is a perfect illustration of the stringent standards of quality of service and patient safety proposed by SBD.

SBD now intends to reach national scale, by continuing to follow the strategy that made its success in Aquitaine: to be an independent player, to offer an innovative and open psychiatry care which meets the national health policy objectives. This development will arise from extending the care offering of the existing units, by creating new units and by acquiring independent mental health hospitals.

OIivier Amourous, Founding Partner of SBD, declared: « We welcome Elaïs Capital as a partner who brings us capital and human resources to complete the acquisition of Clinique Béthanie and allows us to move on to the next stage of our development. »

Olivier Drevon, Founding Partner of SBD, declared: « Elaïs Capital clearly stood out as a different financial partner who understands how important the human factor is in our activity, and shares our vision of the relationship between quality of care and economic efficiency. »

Thibaut de Chassey, Managing Partner of Elaïs Capital, added: « The group founded by Olivier Amourous and Olivier Drevon fits perfectly with our strategy of investing in growing private midmarket companies on behalf of our client base of family investors. SBD is one of the most innovative players in psychiatry in France, and combines an undisputed regional leadership with attractive growth prospects. We are delighted to support this tandem of entrepreneurs. »

About Elaïs Capital:

Elaïs Capital is the French private equity specialist dedicated to family investors. It has developed a unique private equity investment offering serving a client base of twelve families sharing the same values: a passion for entrepreneurship, respect of the people, proximity with management teams, a long term vision of investment and strong business ethics. Elaïs Capital invests in MBO or growth capital transactions with enterprise values from €20 to €100 million. Over the past 15 years, its team completed 28 transactions that generated a 30% IRR and a 2.6x investment multiple. In addition, companies sponsored by its team created 16 subsidiaries abroad, including in China, Denmark, Germany, India, Italy, Mexico, Romania, Russia, Slovenia, Spain, the United Kingdom, the United States and Turkey.