IMAP Netherlands advises Thuisvaccinatie on sale to VaccinatieZorg
Thuisvaccinatie is the leading Dutch provider specialized in healthcare services on location, focusing on travel vaccinations for the private market, preventive medical examinations and group vaccinations (on location) for companies
Deal Overview
IMAP is pleased to announce that the founders and shareholders of PTV Holding B.V.(“Thuisvaccinatie”), have sold their shares to Veritas Investments B.V., the investment vehicle behind competitor VaccinatieZorg.
Thuisvaccinatie is the leading Dutch provider specialized in healthcare services on location, focusing on travel vaccinations for the private market, preventive medical examinations and group vaccinations (on location) for companies. A proprietary developed flexible IT platform is successfully deployed for the administering of travel vaccinations and medical testing through its network of registered doctors.
VaccinatieZorg operates nationally in the field of work-related infection prevention. With a team of doctors and nurses, the organization offers vaccination services and other infection prevention activities for business clients such as healthcare institutions, hospitals and security and surveillance companies. The transaction combines the strength of both companies and enables them to respond to current and future developments in infection control.
The IMAP Netherlands’ transaction team, consisting of Balthazar den Breems, Willem op de Hoek and Tjalie Steenbergen, advised the founders and shareholders on the sale of Thuisvaccinatie.
Market Outlook
Growth in the global travel vaccination services market has temporarily halted as a result of the COVID-19 pandemic. However, the global market for infection prevention continues to grow, partly due to the outbreak of COVID, but also as a result of increasing awareness in companies and organizations of the high costs that infectious diseases are causing for companies, such as loss of productivity following illness.
Once governments gain control over the pandemic and its implications the demand for travel vaccinations is expected to arise again. Moreover, infectious diseases will continue to affect society in the future, and vaccinations and other prevention programs are the most important weapons in the fight against them.
In the short term, there is potential for assisting the Dutch government in the administration of COVID-19 vaccinations.
Valuation Summary
Due to international travel restrictions, Thuisvaccinatie has witnessed a substantial drop in revenues. Therefore, 2020 was a challenging year for management and shareholders. Despite this, the long-term potential of Thuisvaccinatie is evident, thus acquirer VaccinatieZorg was willing to align its evaluation looking at the long-term horizon.