Transaction date

July 2020

Sector

IT Services

Transaction type

Sale

Country

Switzerland

SMC Corporate Finance advises Logicare on its sale to Avectris

Logicare AG was founded in 2006 by four hospitals in the canton of Zurich with the aim of leveraging synergies in the area of IT and executing joint projects. Today, Logicare specialises in consulting/projects, operations and support for all IT resources of healthcare providers for its customers. With around 80 employees, the company operates IT systems and infrastructure for more than 6,000 users and offers a comprehensive range of IT services.

Avectris, a subsidiary of Axpo Group, is an experienced IT service provider for medium-sized Swiss companies primarily in the service provider, finance, healthcare, industrial, legal, public and utility sectors. Avectris offers its customers comprehensive one-stop IT services.

Logicare will be integrated into Avectris. With the merger, Avectris is expanding its industry-specific competence in the healthcare sector. The company operates four locations and employs now a total of 460 people.

Thomas Wettstein, CEO of Avectris: “Logicare has healthcare in its DNA. The company, which was founded by hospitals, has extensive experience in the field of specialist healthcare IT. With this acquisition, we are consolidating our position as one of the leading IT services providers in the Swiss market.” Stefan Steiner, CEO of Logicare, also sees nothing but advantages in the merger: “Switzerland’s healthcare sector is changing at a rapid pace. Hospitals and other players are being faced with new and complex challenges all the time, including in the area of information technology. In Avectris, we have found an excellent partner whose customer focus and IT expertise has impressed us.” Urs J. Fischer, Chairman of Logicare AG, adds: “Avectris AG has convinced us with its high level of expertise in the business areas that are important to us. The willingness to take the next step in development with Logicare AG was noticeable right from the start.” He also adds: “The process was very professional and judicious under the experienced direction of Thierry de Sépibus, Managing Partner at SMC Corporate Finance. Our interests were competently represented at all times.”

A SMC Corporate Finance team advised the sellers in the search for a suitable strategic partner and supported them in structuring, negotiating and closing the transaction in a competitive process.

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