LONDON, 16th November 2015: Metric Capital Partners (“MCP”, “Metric”), the European private capital group, has announced the completion of the sale of its investments in Centric Health and Global Diagnostics (the “Companies”). Metric’s credit and equity instruments were refinanced through the Companies’ institutional debt raise.
Centric Health is a leading provider of primary care in Ireland, offering a range of services to the Irish market through its GP practices, urgent care clinics and occupational health clinics. Global Diagnostics provides managed radiology solutions to public and private healthcare providers to improve quality of service and access for patients, whilst reducing the cost of delivery for providers.
The sale follows Metric’s investment in the Companies in November 2012 and takes the total number of realizations in Fund I to five.
John Sinik, Managing Partner of MCP, commented: “We are extremely pleased with our investments in Centric Health and Global Diagnostics and the returns that this transaction has generated for our investors. At the time of investment, we were attracted to the strength and depth of the management team and viewed their businesses, in both primary care and radiology services, as having unique opportunities for growth. During the life of our investment, the Companies have consistently achieved impressive growth rates, allowing management to refinance the Metric structure, consolidate their ownership, and provide an exit path to Metric as part of this transaction.”
Ilkka Rantanen, Partner at MCP, represented Metric on the Company’s board during the life of the investment.
Launched in 2011, MCP is an independent private capital group which invests in European small and medium-sized firms by providing debt and equity solutions to support the execution of strategic transactions including MBOs, MBIs, growth/development capital, refinancing and rescue financing.
For further information please consult:
John Sinik, Managing Partner, Metric Capital Partners – Tel: +44 (0) 203 540 1550
Ilkka Rantanen, Partner,Metric Capital Partners -Tel: +44 (0) 203 540 1550