HCD Healthcare & Diagnostics GmbH
Healthcare
Pathology consolidation concept in Germany
Überblick
HCD is a consolidation concept acquiring pathology and histology practices around Germany. The group comprises medical practices around 5 locations in Germany as well as a hospital in Lower Saxony. Analyzing more than 120,000 samples per year, HCD facilitates the shift towards outpatient services in the German healthcare system.
Capiton started the consolidation concept in 2022, acquiring a hospital in Lower Saxony and three medical practices in Northern Westphalia.
Investment Thesis
- Highly fragmented market offers significant buy and build potential fueled by synergies, such as overhead and procurement cost savings
- Strong, sustainable, and non-cyclical market drivers including inpatient to outpatient shift, demographic change, and the establishment of medical chains
- Scale enables quicker adaption to innovation, digitalization, and automation
Value Creation
- Inorganic growth potentials along a dedicated buy and build strategy incl. subsequent efficiency increase and expansion of the service spectrum
- Expansion of the standard business of pathology Viersen incl. expansion of the medical service spectrum
- Establishment of digitized processes incl. usage of digitized analysis machinery and introduction of dedicated pathology software
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Ihre Ansprechpartner zum Thema
Lukas Neske
Investment Director