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Engagement — Platform Due Diligence

Code & Co. provides Tech & Product Due Diligence to Bregal Unternehmerkapital ahead of its acquisition of medavis

Funds advised by Bregal Unternehmerkapital (“BU”) have acquired a majority stake in medavis, a leading radiology workflow software provider.

medavis’ RIS (radiology information systems) software is central to radiological practices and clinical departments across the DACH region, where it is relied on for workflow optimization, process integration and networking. Its modular, scalable applications connect patients, radiologists as well as referring physicians, and provide the information they need reliably and securely at all times.

The future focus of the partnership between BU funds and medavis’ two founders, who have retained significant stakes in the business, will be on the further expansion of the company’s strong position in the core RIS market, continued geographical expansion, and strategic enlargement into neighboring business areas.

“medavis is the market leader for RIS software in the DACH region, and a company whose success has been built on innovation. We are confident that it will continue to innovate around its core product offering and lead the development of digital networking in the RIS sector,” says Dan Bender, co-founder of Code & Co.

Scope of Work

Code & Co. provided Tech & Product Due Diligence to BU ahead of its acquisition of medavis, assessing the company’s core software offering, architecture and engineering processes. Code & Co. also assessed medavis’ ambitious product development roadmap, data and integration strategy, as well as growth plans.

Supporting BU in this acquisition underlines Code & Co.’s position as a leading Technology and Product Due Diligence provider on medical software mandates.

About Bregal Unternehmerkapital

Bregal Unternehmerkapital (“BU”) is part of a family-owned business that has grown over several generations. The BU funds invest in European mid-sized companies across a wide range of sectors with a focus on market leaders and “hidden champions” with strong management teams and outbreak potential. With patient capital, entrepreneurial expertise, and a partnership approach, our team works closely with entrepreneurs to develop, internationalize and digitalize portfolio companies, and to help them generate sustainable value on a responsible basis.

As part of its comprehensive commitment to ESG, Bregal also supports existing portfolio companies with loans at attractive terms to finance sustainability investments provided by Bregal’s dedicated EUR 40 million Sustainable Development Fund and, in 2020, with grants for charitable projects to contribute to portfolio companies’ pandemic responses provided by Bregal’s EUR 3 million COVID-19 relief fund. Furthermore, in 2021, Bregal committed to ambitious science-based climate targets for 2030 as part of its commitment to decarbonize its portfolio and achieve net-zero.

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About medavis

medavis GmbH is a leading software provider for radiological practices and clinical departments in the DACH region offering solutions for workflow optimization, process integration, and networking. For 25 years, medavis has offered tailored software solutions to doctors, specialist medical personnel, and patients with focus on radiological imaging processes.

About Code & Co.

Code & Co. is an independent advisory firm that specializes in providing modern, actionable Tech & Product Due Diligence for the global alternative investment industry. Our expertise uncovers risks that threaten asset value and opportunities to accelerate growth.