Lauxera Capital Partners announces the acquisition of a majority stake in a German Medtech software company, Matrix Requirements, (a MedTech quality management software provider). The software editor helps medical device companies meet their growing need for quality and regulatory compliance in a world where the lines between medical devices and software are blurring.
Matrix Requirements is a perfect fit for medical device companies developing complex products, often with significant software-dependent features. In addition to more traditional MedTech clients, Matrix’s product portfolio is designed to serve the fast-growing “software as a medical device” field encompassing digital therapeutics, connected devices, and technologies leveraging machine learning/artificial intelligence.
This is the seventh investment made by Lauxera Growth I, a growth and growth buy-out fund dedicated to investing in European HealthTech.
More than 180 medtech companies rely on MatrixALM and MatrixQMS applications
Founded in 2014 by Wolfgang Huber (former VP R&D at Advanced Medical Diagnostics and co-founder of NeoMed Software) and Yves Berquin (former Program Manager at Advanced Medical Diagnostics and CTO at SleepOnWeb), Matrix Requirements has grown into a leader in the MedTech quality management system software space with two highly differentiated solutions:
• MatrixALM, flexible software for managing medical device technical files with the goal of accelerating regulatory approvals (CE marking, FDA approval, etc.) and reducing non-compliance risk
• MatrixQMS, a quality management system solution enabling MedTech companies to develop and maintain their own quality systems reflecting the specific needs of their products in compliance with ISO and FDA standards.
To date, these solutions have been adopted by more than 180 MedTechs throughout the world, including large accounts (Stryker, BBraun, Roche, Sanofi…), start-ups (Mindmaze, UgenTec, Robocath…) and academic institutions (University of Arkansas). To meet their needs, Matrix Requirements has a growing team of engineers and MedTech quality management system experts specialized in medical devices. Matrix Requirements is ISO13485 and ISO 27001 certified.
Wolfgang Huber and Yves Berquin, co-founders of Matrix Requirements, said: “We are delighted to partner with Lauxera to accelerate the development of Matrix Requirements and our products. We share the vision of continuing to offer the best solutions to make Matrix Requirements a global leader in its industry. This transaction provides the company with the means to significantly accelerate its growth by adding to the team of which we are very proud. Lauxera’s entrepreneurial culture, skills and experience make it an ideal partner. We are looking forward to this new step in our development.”
Samuel Levy, Founding Partner of Lauxera Capital Partners, added: “Yves and Wolfgang have built remarkable MedTech quality management system products that delight customers and accelerate time to market for life saving medical devices.
The MedTech eQMS software market exceeds $2.5 billion in size and is growing rapidly as software replaces paper and regulatory scrutiny grows. We are excited to work hand in hand with the Matrix management team to strengthen the company’s commercial engine and enable our customers to navigate rigorous audits without non-conformities.”
Laurent Grandidier, serial entrepreneur in the MedTech sector and Chairman of the Board of Directors concluded: “Unlike other software players, Matrix is entirely focused on MedTech companies. This focus is relevant in an increasingly complex regulatory environment.
More than ever, medical device manufacturers need risk management tools for the development of their technologies. The solutions developed by the Matrix team are the perfect answer to the challenges of digitization, cybersecurity, and traceability of these devices under development. Matrix products ensure that device designers are agile from the first stages of R&D through marketing registration on a global basis”.
Lauxera Capital Partners was advised by Tricon Law on legal matters in Germany (Hartmut Wollstadt & Thorsten Lill), Goodwin Luxembourg on legal and taxation matters in Luxembourg (Alexandrine Armstrong-Cerfontaine & Bastien Voisin), Flick Gocke Schaumburg on taxation matters in Germany (Matthias Full & Anne-Catherine Lorek), Ebner Stolz on taxation matters in Luxembourg (Claus Bähre), Luther on legal matters in Luxembourg (Hervé Leclercq & Amaury François), and Dechert (Sabina Comis & Etienne Bimbeau) on overall structuring and taxation matters in France.