Gimv sells Oldelft Ultrasound, producer of innovative ultrasonic probes for medical diagnostics
In 2012, Gimv acquired a majority stake in medical diagnostics company Oldelft Ultrasound (Delft – NL, www.oldelft.nl), which develops and produces innovative ultrasonic probes for medical diagnosis, with the ambition of achieving further international growth through continuous development and expanding the product portfolio. Oldelft is the only independent player worldwide in the field of specialized TEE (transesophageal echocardiography) probes, serving, among other things, for cardiac imaging via the oesophagus.
Over the past seven years, continuous investment in R&D has further expanded Oldelft’s position as a technology leader in the growing echocardiography market. Leveraging its unique positioning, Oldelft has achieved impressive sales growth and built up an impressive global customer base of tier-1 OEMs in the market for ultrasound medical equipment. Recently a new type of probe, based on matrix/3D technology, has been developed and tested in the market.
Gimv announces today that it has sold on its majority shareholding in Oldelft in a management buy-out supported by Smile Invest.
Rob Smallenburg, CEO Oldelft: “ We are particularly happy at the support we have received from Gimv over the past 7 years. The good cooperation and Gimv’s knowledge of the field have enabled us to concentrate on Oldelft’s growth. Our continuous focus on innovation has enabled us to distinguish ourselves sustainably from other players. ”
Elderd Land, Partner, Gimv Health & Care platform: ” We look back with pleasure on the successful collaboration between Gimv and Oldelft. The growth figures and the recent development of the new matrix technology underline this success. Gimv is proud to have been to support Oldelf’s further expansion in recent years. Management has done an excellent job in this area. “
The yield on Oldelft over the entire investment period exceeds Gimv’s long-term average. No further financial details, however, are provided on the transaction itself. This transaction has no material impact on the NAV of Gimv.