(Finance) – Exorthe holding company of the Agnelli family, has signed an agreement for acquire a 45% stake in Lifenet, an Italian company active in the health sector, in particular in the management of hospitals and clinics. The operation, which will mainly take place through a capital increase reserved for Exor and the simultaneous purchase of shares held by Invin Srl (the company that controls Lifenet), provides for a overall investment by Exor’s 67 million euros.
Lifenet was founded in 2018 by Nicola Bedin, who through a combination of organic business development and a series of targeted acquisitions, created a group present in four Italian regions (Lombardy, Piedmont, Lazio, Emilia-Romagna), including the Piccole Figlie Hospital in Parma, the Regina Apostolorum Hospital in Albano Laziale, the Lazzaro Spallanzani Medical Center in Reggio Emilia and the CeMeDi in Turin. The new resources of the operation will be used for investment in technology and infrastructure, as well as for new acquisitions consistent with the consolidation process already started.
Under the terms of the agreement, Nicola Bedin will continue to be the majority shareholder of Lifenet through Invin and will retain his role as CEO. Lifenet’s entire current management team will also continue in their roles, while Exor will appoint the president of the company and will be adequately represented in governance. The transaction is expected to close by the end of the first half of 2022.
“Lifenet is a young, dynamic and ambitious company providing much needed services in the health sector, in which we want to grow – commented John ElkannCEO of Exor – Consistent with our purpose of building great companies, we look forward to working with Nicola and his team with whom we share the same values to accelerate the development of Lifenet. ”