H.I.G. Capital Makes Strategic Moves in Healthcare and Adjacent Sectors

In a series of recent transactions, H.I.G. Capital, a leading global alternative investment firm with $65 billion of capital under management, has demonstrated its continued interest in the healthcare sector and related industries. The Miami-based firm has been actively reshaping its portfolio through strategic acquisitions and sales, signaling a focus on growth opportunities in these markets.

Acquisition of SkinCure Oncology

On October 1, 2024, H.I.G. Capital announced the completion of its acquisition of SkinCure Oncology, a provider of image-guided superficial radiation therapy (IG-SRT) solutions for nonmelanoma skin cancer. This move positions H.I.G. in the growing field of non-invasive cancer treatments.

SkinCure Oncology, headquartered in Burr Ridge, Illinois, has partnered with over 500 physicians nationwide and treated more than 100,000 patients using its GentleCure^™ platform. The company's executive team, led by C.E.O. Kerwin Brandt, will continue to manage operations while retaining a significant ownership stake.

Scott Zhu, Managing Director at H.I.G., expressed enthusiasm for the partnership, citing "tremendous opportunities ahead for the Company, given its strong track record of delivering outstanding outcomes for both its physician partners and their patients."

H.I.G. Capital's Sale of BIOVECTRA

In a separate transaction announced on H.I.G. Capital completed the sale of BIOVECTRA, a contract development and manufacturing organization (CDMO) specializing in active pharmaceutical ingredients and intermediates. The company was sold to Agilent Technologies, Inc. for $925 million.

H.I.G. acquired BIOVECTRA in November 2019 and successfully established it as an independent entity. Under H.I.G.'s ownership, BIOVECTRA expanded its facilities, strengthened its management team, and shifted its focus toward commercial products, resulting in significant growth.

Oliver Technow, BIOVECTRA's C.E.O., commented on the sale, saying, "We are grateful for H.I.G.'s role in our success these past five years and are excited to further build on this success with Agilent through this synergistic pairing."

Investment in Naturalia Tantum

Expanding its reach into the organic and natural products market, H.I.G. Capital acquired a majority stake in Naturalia Tantum S.p.A., an Italian leader in organic Beauty & Personal Care products, on July 23, 2024. This move reflects H.I.G.'s interest in the rapidly growing natural and organic consumer product market.

Naturalia Tantum, based in Milan, develops, produces, and distributes a variety of natural and organic personal care products, natural food supplements, and ecological products for home and pet care. The company's C.E.O., Francesco Iovine, expressed excitement about the partnership, stating, "We are thrilled to partner with H.I.G. to further accelerate our growth path in Italy and abroad."

Acquisition in Adjacent Sector: Action Elevator

While not directly in the healthcare sector, H.I.G. Capital's acquisition of Action Elevator demonstrates the firm's interest in services that support healthcare infrastructure. Action Elevator provides maintenance, repair, and modernization services for elevators, serving customers in various sectors, including healthcare.

This acquisition and Action's concurrent purchase of Century Elevator expands H.I.G.'s presence in the Mid-Atlantic region's elevator services market.

Looking to the Future

These recent moves by H.I.G. Capital showcases the firm's strategy of investing in diverse sectors with strong growth potential. From innovative cancer treatments and pharmaceutical manufacturing to natural personal care products and essential building services, H.I.G. is positioning itself to capitalize on various aspects of the healthcare industry and its supporting sectors.