415 CAPITAL Management GmbH (“415 CAPITAL”) today announced that it has entered into a strategic alliance with Dublin-based Uniphar Group PLC, a diversified international healthcare service provider and distributor of pharma and medical device products.
Uniphar Group PLC is headquartered in Dublin, Ireland with over 3,000 employees and presence across Ireland, U.K., Benelux, the Nordics and the U.S.
“As an early- and development-stage medical technology investor, we have always been focused on leveraging our clinical and commercial access to create value for our portfolio companies,” added Frederik Groenewegen, Co-Founder & Managing Director of 415 CAPITAL. “For our investment franchise, this new strategic alliance is a huge leap forward, as it provides us with significantly expanded clinical and commercial reach across complementary European geographies, as well as access to a large clinical and retail sales infrastructure that supports almost €2 billion in annual revenues.”
The partnership was formed on the back of Uniphar Group PLC’s acquisition of CoRRect Medical GmbH, a leading distributor of innovative medical devices in Germany and Switzerland, co-founded by Michael Braun, Frank Groenewegen, and David Thompson in 2010. The CoRRect Medical acquisition constitutes Uniphar Group PLC’s entry into Europe’s largest and most important healthcare market, Germany, and also adds activities in Switzerland. CoRRect Medical GmbH will further complement the Uniphar Group’s existing strong position within the interventional space across a number of brands: EPS Vascular, Angiocare, M3, Synapse Medical and MacroMed.
Following the acquisition, Michael Braun will remain as CoRRect Medical’s CEO and also continue to serve as a Senior Venture Partner of 415 CAPITAL, thereby acting as a close link between the medical technology VC and the healthcare services powerhouse. In addition, 415 CAPITAL Managing Director David Thompson will serve on a newly established strategy committee established between both groups. “We will be working closely with Uniphar Group to continuously explore and realize value-creation opportunities between our investment portfolio and the Uniphar Group of companies,” said Mr. Thompson.
