Affidea successfully adjusts its debt and raises an additional credit facility of €200 million to support the company's further growth plans

2024-02-27 21:13:20

THE HAGUE, Netherlands, Oct. 21, 2021 /PRNewswire/ — Affidea, Europe’s largest outpatient service provider focused on diagnostic imaging, offering a broad portfolio of services with symbiotic adjacent services including outpatient services, laboratory services and cancer treatment, announces the successful restructuring of its debt structure and the completion of a fungible loan B in the amount of 200 million euros. It complements the existing loan B worth 770 million euros. This latest credit facility further supports the company’s growth strategy.

Affidea has accelerated its growth strategy in 2023, investing in the expansion of existing clinics and greenfields, as well as in accretive acquisitions to expand its service portfolio and add new polyclinics and centers of excellence. In total, in 2023, Affidea completed 14 acquisitions in 8 countries (including Switzerland, the United Kingdom, Spain, Portugal, Italy and Romania), added 24 new centers to its network and made 9 new greenfield investments (Lithuania, Poland, Romania, Greece) opened.

Affidea is continually considering a series of bolt-on acquisitions to enhance its local reach and diversify its services so that it can better meet the needs of its patients and physicians in each community. The new credit facility is intended to support the company in pursuing its expansion plans over the next few years.

Guy Blomfield, Managing Director and Chairman of Affidea, said: “I am very proud of what Affidea has achieved in 2023 and how we have started 2024. In the first two months of the year we expanded in 5 of our countries with 3 acquisitions in Italy, Spain and Romania and 2 greenfields in Portugal and Switzerland. The success of this capital injection is a vote of confidence in our strategy, our operational and financial performance and our strong business model. This new credit facility gives us the flexibility to leverage our strategic initiatives and accelerate our expansion plans to deliver value to our more than 13 million patients who visit our 355 centers in Europe each year.”

Ronald Voordendag, Interim Chief Financial Officer of Affidea, added: “We are pleased to receive the support of debt investors for our refinanced loan with reduced interest costs, which supports our growth plans. This is an achievement that reflects confidence in the company’s resilience and our initiatives to strengthen cash flow and reduce debt over the next few years. The reduction in leverage will be driven by our like-for-like and broader growth prospects and the company’s ability to achieve significant cost savings.”

The new credit facility was jointly arranged by BNP Paribas, Goldman Sachs and KKR as physical bookrunners, with Citi and Unicredit acting as passive bookrunners and RBI as mandated lead arranger. Unicredit acts as an intermediary.

Information about the Affidea Group

Affida ( www.affidea.com ) is the largest European provider of advanced diagnostic imaging, out-of-hospital treatment and cancer prevention. Founded in 1991, the company operates 355 centers in 15 countries and provides high-quality medical services to nearly 13 million patients annually. Due to its track record in patient safety, the company has been named the most awarded diagnostic imaging provider in Europe by the European Society of Radiology, with over 80% of the centers recognized on the Eurosafe Wall of Stars belonging to Affidea. Affidea is majority owned by Groupe Bruxelles Lambert (GBL), a leading investment holding company focused on long-term value creation with a stable and supportive family shareholder base.

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