Austria: Schoenherr advises Cerba HealthCare on acquisition of Lifebrain from Investindustrial
Schoenherr advised French diagnostic centre group Cerba HealthCare on the acquisition of the Lifebrain Group from Investindustrial. Lifebrain owns and operates diagnostic laboratory centres throughout Italy and in Austria. The signing of the transaction took place on 18 July 2021 and closing is subject to regulatory clearances expected in Q4 2021.
Founded in 2013 by Prof. Michael Havel and Bernhard Auer, and owned by Investindustrial since 2018, the Lifebrain Group has grown significantly through a number of acquisitions. Lifebrain operates a large number of diagnostic laboratory facilities throughout Italy and Austria, and is active in the clinical laboratory analysis sector, serving both the private and public sectors. With over EUR 200m in turnover and over 2000 employees, Lifebrain currently operates approx. 360 laboratories and collection centres in Italy, and testing operations in Austria. Lifebrain responded rapidly to the COVID-19 pandemic by providing screening tests to the Italian and Austrian population. In Austria, Lifebrain operates a laboratory performing tests and analyses for the detection of COVID pathogens and runs testing stations throughout Austria. Tests are provided for private individuals, B2B and in the context of large scale projects in the public sector based on public tenders.
Cerba HealthCare, majority owned by EQT Partners, is headquartered in France and operates a network of clinical analysis and diagnostic centres in Europe; it also operates globally with its business unit for clinical studies to validate new active components and vaccines. It is uniquely positioned in the diagnostics market, covering the need for diagnostic tools and expertise for patients, physicians, hospitals and the pharmaceutical industry.
The Schoenherr team advising on all Austrian aspects of the transaction was led by Christian Herbst (partner) and Maximilian Lang (partner). It further included Volker Weiss (partner), Andreas Natterer (partner) as well as Teresa Waidmann (counsel), Veronika Wolfbauer (counsel), Johannes Stalzer (counsel), Alfred Amann (attorney), Evelin Hlina (attorney), Iliyana Sirakova (attorney), Nina Zafoschnig (associate), Michael Kern (associate), Daniel Neuwirth-Riedl (associate), and Daniel Komarek (associate).
Bank of America and Deutsche Bank AG acted as financial advisers to Cerba HealthCare in the transaction.