Investcorp to acquire majority stake in Cambio Healthcare Systems

Transaction is the company's sixth healthcare deal in three years

Bahrain based Investcorp acquired German cybersecurity company Avira for $180 million. Courtesy of Investcorp

Investcorp, the alternative investment firm that counts Mubadala Investment Company as its biggest shareholder, will acquire a majority stake in Cambio Healthcare Systems based in Stockholm for an undisclosed sum.

Cambio operates in the electronic health records market, Investcorp said on Monday. The deal is the sixth for Investcorp in the healthcare industry over the past three years.

“We see solid growth potential in Cambio Healthcare System, which has already established itself as a strong player in the European region, offering innovative solutions in a promising healthcare market,” said Hazem Ben Gacem, co-chief executive of Investcorp.

Investcorp, in which Mubadala has a 20 per cent stake, has been snapping up assets as it seeks to double its assets under management to $50 billion from $22bn as of June 2018.

Last December, the company signed a deal with Coller Capital in London for some of its European private equity portfolio assets that will help create a new $1bn buyout fund. Investcorp said its technology unit transferred two of its portfolio companies with an enterprise value of $185 million to an investment fund.

The company has invested across a range of sectors with the total transaction value exceeding $57bn.

Since its inception in 1982, Investcorp has made more than 175 corporate investments in the US, Europe and the broader Middle East and North Africa region, including Turkey. Its previous investments in Nordic technology companies include: Abax, a developer and supplier of vehicle tracking systems in Norway; Coresec, a cyber security infrastructure and managed services provider in Sweden; and Asiakastieto, a Finnish business and credit information provider that Investcorp took public on the Helsinki Stock Exchange in 2015.