Renzenbrink & Partner advises IK on the sale of the Aposan Group to Santé Cie, an Ardian portfolio company

24 August 2020

Renzenbrink & Partner has represented funds advised by IK Investment Partners on the
sale of APOSAN (“APOSAN” or “the Company”), a leading German pharmaceutical
homecare provider, to the French home medical assistance provider Santé Cie Group,
majority-owned by funds advised by Ardian.

Founded in 1991, APOSAN is a specialised homecare provider in the field of outpatient
parenteral antibiotic therapy, one of the fastest growing segments in the German home
care market, as well as parenteral & enteral nutrition and ophthalmic injectables,
covering the full homecare value chain from pharmaceutical compounding to care
delivery. APOSAN is headquartered in Cologne, Germany, and serves over 15,000
patients per year.

Created in 2016, Santé Cie is the third largest home healthcare provider in France,
through its two operating networks Elivie and Asdia. The company supports over 160,000
homecare patients in France, covering a wide range of therapeutic segments including
perfusion, nutrition, insulin therapy, the treatment of Parkinson’s disease, respiratory
assistance and wound treatment and healing. Santé Cie has over 1,700 employees
across 80 agencies throughout France, through its Elivie and Asdia networks.

Renzenbrink & Partner has advised IK Investment Partners already on their acquisition
of APOSAN in 2016 and was now ‘counsel to the project’ for the sellers. The team of
Renzenbrink & Partner consisted of Dr Ulf Renzenbrink (PE), Marc H. Kotyrba (Tax),
Dr Bernd Egbers and Isabell Hitzer (both Finance), Dr Niels Maier, Christopher Blumenthal,
Dr Alexander Haunschild, Dr Vincent Nossek (all PE) as well as Nicole Militzer (Tax).