PAI Partners enters exclusive negotiations with Partners Group and PSP Investments for the sale of Cerba HealthCare

22 January 2017

Paris, France – PAI Partners announces today that it has entered exclusive negotiations with Partners Group, the global private markets investment manager, and the Public Sector Pensions Investment Board, one of Canada’s largest pension investment managers, for the sale of Cerba HealthCare, a European leader in the clinical pathology business.

Paris, France – PAI Partners (“PAI”), a leading European private equity firm, announces today that it has entered exclusive negotiations with Partners Group, the global private markets investment manager, and the Public Sector Pensions Investment Board (“PSP Investments”), one of Canada’s largest pension investment managers, for the sale of Cerba HealthCare (“Cerba”), a European leader in the clinical pathology business.

Cerba HealthCare is a network of clinical pathology laboratories. It provides central, routine and specialised clinical laboratory testing services and is the only operator in Europe covering these three market segments in the clinical pathology industry.

Through its Routine Lab and Specialised Testing operations, Cerba offers a range of over 2,500 routine and specialty clinical tests used by doctors and medical institutions to diagnose, monitor and treat disease; whilst its Central Lab testing operations provide safety and efficacy testing services to pharmaceutical companies and contact research organisations worldwide.

Frédéric Stevenin, CIO of PAI Partners, said: “We are very proud to have partnered with Cerba HealthCare and helped expand the business to become a European leader in clinical pathology. We believe the company is very well positioned for the future and we wish everyone at the company success for the years ahead.”

Catherine Courboillet, CEO of Cerba HealthCare, said: “Cerba has been supported with talent and efficiency by PAI during seven years. Our managers and biologists who are shareholders of Cerba, all of our teams, our customers, our partners, can be happy about all the tremendous work performed together with PAI since 2010. This cooperation has fed Cerba’s growth and scientist, economic, social and international development. This support has also been reflected in the way PAI has managed the sale process and accomplished its favorable completion. We know that our new shareholders will pursue such a strong support for Cerba over the coming years.”

The transaction would be subject to the final and definitive agreement between the parties and customary conditions and provisions.

About PAI Partners

PAI Partners is a leading European private equity firm with offices in Paris, London, Luxembourg, Madrid, Milan, Munich, New York and Stockholm. PAI manages €8.3 billion of dedicated buyout funds. Since 1994, the company has completed 61 transactions in 11 countries, representing c. €41 billion in transaction value. PAI is characterised by its industrial approach to ownership combined with its sector-based organisation. They provide the companies they own with the financial and strategic support required to pursue their development and enhance strategic value creation.

About Cerba HealthCare

The Group has a presence in three complementary segments: - Routine medical biology, mainly in France, Belgium and Luxembourg, with more than 300 specimen collection centres and 50 technical platforms. - Specialised medical biology, through its historic laboratory serving more than 50 countries in Europe, Africa and Asia. - Clinical trial biology—essential in the process of development of new molecules by the pharmaceutical and biotechnology industry—through its subsidiaries set up across the 5 continents. Recently the Group diversified in the veterinary biology market by creating Cerba Vet, a dedicated entity. Cerba has almost 4,200 employees including 350 biologists. In 2015, its consolidated turnover was €605 million. www.cerbahealthcare.com