Exor N.V. (“Exor”), a leading diversified holding company controlled by the Agnelli family, has signed an agreement to acquire a 45% shareholding in Lifenet S.r.l. (“Lifenet Healthcare” or “the Company”), an Italian company active in the healthcare sector, particularly in the management of hospitals and outpatient clinics. The transaction, which will be executed principally via a capital increase reserved for Exor and the concurrent acquisition of shares owned by Invin S.r.l., the company that controls Lifenet, entails a total investment by Exor of €67 million.
Lifenet was founded in 2018 by Nicola Bedin, who through a combination of organic business development and a series of targeted acquisitions, has laid the foundations for the creation of a solid and dynamic group, that today has recognised and appreciated presences in four Italian regions (Lombardy, Piedmont, Lazio, Emilia-Romagna), including the Piccole Figlie Hospital in Parma, the Regina Apostolorum Hospital in Albano Laziale, the Centro Medico Lazzaro Spallanzani in Reggio Emilia and the CeMeDi in Turin. Thanks to the new resources provided by the transaction, Lifenet Healthcare will be further strengthened, supporting a development plan dedicated both to investing in technology and infrastructure focused on the quality of its services, and with new acquisitions consistent with the already initiated consolidation process.
Under the terms of the agreement, Nicola Bedin will continue to be Lifenet’s majority shareholder via Invin and will retain his role as Chief Executive Officer. The entire current Lifenet management team will also continue in their roles, while Exor will nominate the Company’s Chairman and will be appropriately represented in the Company’s governance.
The transaction is expected to complete by the end of the first half of 2022 and is subject to the customary regulatory approvals.
Commenting on the transaction, John Elkann, Chairman and Chief Executive of Exor said: “Lifenet, led by Nicola Bedin, is a young, dynamic and ambitious company providing much needed services in the healthcare sector in which we are keen to grow. 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.”
Nicola Bedin commented: “Exor is the ideal partner for Lifenet. Today is like a handshake between gentlemen who start to move ahead together, combining their respective strengths, on the basis of a series of shared values. All the management team and I are proud to be embarking on this new phase with the confidence that comes from having found the very best of partners for the journey ahead.”