FORUM Family Office ("FORUM") has acquired 75% of the shares in MedNet GmbH, based in Münster. MedNet achieved a turnover of € 13 million in 2020 with 41 employees. In the last 5 years, the turnover has grown by an average of approx. +10% p.a..
As with every FORUM acquisition, turnover is strongly characterised by recurring sales with a high level of customer loyalty . MedNet generates the majority of its turnover with the distribution of high-quality components and connectors for fluid management. Customers are manufacturers of medical technology devices for which these C-parts are specified as part of regulatory approval procedures.
In the second business segment, MedNet, as the EU representative, helps medical technology companies that do not come from the EU to obtain and maintain the regulatory approvals necessary to market their products. Invoicing is based on an annual rental model, so this business is a classic subscription business. This business is to be further developed in the course of increasing international regulation in the field of medical technology and related areas.
The continuation concept of FORUM provides for a continuation of the previous corporate strategy in all essential points, especially the maintenance and further development of the staff at the Münster location, the strengthening of the sales organisation, as well as the focus on the further growth of the EU representation area.
MedNet is one of those cases where the founders have developed two strong managing directors from their own company. Ole Stein and Matthias Heinz impressed us in the discussions with their dynamism and customer orientation, and we look forward to working with them. Just as importantly, founder David Thaler remains involved and will continue to drive the EC-Rep business forward with unchanged energy. His comment on the acquisition:
"After more than 30 years, it is definitely not easy to let go. I looked at several alternatives, but Forum Family Office is without a doubt the best option for MedNet. On the one hand, MedNet can keep its unique spirit and character. On the other hand, MedNet gets the security and growth potential of a strong group with the ability to think and plan for the long term. This is a good day for MedNet and all employees."
FORUM Family Office is a long-term investor in medium-sized companies. The core are"subscription businesses" with recurring revenues. As long-term owners, we contribute our expertise primarily in the areas of corporate development, sales and human resources development. We are looking for majority shareholdings with € 2 million - € 50 million turnover.
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