CVC Strengthens Healthcare Portfolio with Therakos Acquisition
In a significant move that reinforces CVC's position in the healthcare sector, the global private markets manager has completed the acquisition of Therakos, a key player in Extracorporeal Photopheresis (ECP) therapy. This acquisition, executed in coordination with Mallinckrodt plc, marks a promising step towards expanding advanced treatment options for immune-related diseases.
The Role of Therakos in Modern Therapy
Therakos has established itself as the leader in ECP delivery systems, providing vital autologous immunomodulatory therapies that are crucial for treating various immune-related conditions. With extensive approvals across major regions including North America, Europe, and Asia Pacific, Therakos' systems have become the first choice among healthcare professionals, improving patient outcomes globally.
Leadership Commitment
Returning to lead Therakos are healthcare executives Michael Rechtiene and Sandra Thompson, who have a shared vision for the company. They express enthusiasm about their renewed opportunity to invest in the domain of ECP therapy, reflecting their dedication to patient well-being and therapeutic advancements.
Future Aspirations
According to Cathrin Petty, Managing Partner and Global Head of Healthcare at CVC, the firm is poised to elevate Therakos into a world-class photopheresis company. She emphasized a commitment to nurturing innovation and expansion in this essential segment of healthcare, benefiting countless patients worldwide.
Investment Backing and Advisory
CVC’s strategic investment is strongly supported by a team of financial advisors and legal counsel. UBS serves as CVC’s financial advisor alongside Freshfields Bruckhaus Deringer for legal assistance and PWC for financial advisement, underscoring the seriousness and depth of this business move.
About Therakos
With a legacy spanning over 35 years, Therakos has delivered more than 1.3 million photopheresis treatments globally, demonstrating its commitment to improving healthcare through innovative solutions. The company operates in more than 350 treatment centers, largely independent and not under Mallinckrodt’s management, thereby ensuring broad accessibility of its therapies.
About CVC
CVC is renowned for its robust global presence, managing approximately €191 billion in assets. Their investment strategy integrates various sectors including private equity and infrastructure, indicating a diverse approach to capital management. CVC’s substantial portfolio includes investments in nearly 130 companies, employing over 610,000 people and yielding annual sales of around €158 billion.
Frequently Asked Questions
What was the recent acquisition by CVC?
CVC recently acquired Therakos, a leader in Extracorporeal Photopheresis therapy, enhancing its healthcare portfolio.
Who are the leaders of Therakos after the acquisition?
Michael Rechtiene and Sandra Thompson return as Co-CEO’s to drive Therakos' vision and operations.
What is Extracorporeal Photopheresis?
Extracorporeal Photopheresis (ECP) is a medical treatment that uses light to modulate immune responses, particularly in auto immune diseases.
What markets does Therakos serve?
Therakos operates in major global markets including the U.S., Canada, Europe, Japan, and several countries in Latin America and Asia.
What support did CVC receive for this acquisition?
CVC's acquisition was advised by UBS, Freshfields Bruckhaus Deringer, PWC, and Candesic, ensuring comprehensive strategic alignment.
